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AFDB injects €12.5M into Adiwale Partners Co to support SMEs’ development in francophone West Africa
The African Developent Bank (AfDB) has approved a €12.5 million financing in first generation private equity fund Adiwale Fund 1. The information was revealed by the pan-African institution in a statement issued last Thursday.
“The Bank’s investment in Adiwale Fund 1 will improve financing options and SMEs capacities in French-speaking West Africa,” said Alhassane Haidara, head of...
From now on, the national agency for food security (ANSAT) will pay grain farmers their production via bank accounts.
“We have put in place a new procedure that involves prior stock declaration. In effect, ANSAT agents will visit the farmers to check the stock’s quality, after which the money will be wired to the cooperative’s account,” said Napo Gnofam, Sales Head at ANSAT.
This is a...
Liquid Telecom, subsidiary of Zimbabwean group Econet Wireless, could soon enter the Togolese market.
Last Monday, the group announced in Kigali, at the Africa CEO Forum, which was attended by a Togolese delegation led by President Gnassingbé himself.
If Liquid Telecom succeeds in entering Togo, it would be its first step in West Africa. However it will be the country’s fourth Internet...
In the West African Economic and Monetary Union (WAEMU), actors of the cotton sector wish to put in place a regional consultation framework. This was revealed during an exchange workshop held in Ouagadougou regarding the sector’s structuring in the region.
According to Zourata Lompo-Ouedraogo, cabinet director of Jonas Gbian, head of agriculture, water resources and environment of the WAEMU...
A total of hundred projects will be financed in the framework of the coming Togo-EU economic forum next June 13-14.
The call for the projects was recently launched on forumtogo-ue.tg, the website dedicated to the event.
The projects cover sectors such as agrofood and agriculture, bank and insurance, construction and related equipment, trade, services and enterprises, transport and...
Coastal degradation cost Togo $310 million in 2017. This was disclosed in a World Bank report on the hazard’s impacts in West Africa, especially in Benin, Côte d’Ivoire, Senegal and Togo.
In the report, three major factors were discussed: floods, coastal erosion, pollution (water and air) and waste management.
In detail, coastal erosion alone cost the country $213 million, thus...
French group Africar, leading small car ads network in Africa revealed March 27 that it would launch in Togo Carasigbe.com, the first-ever online car dealing platform.
This website adds to about 20 others already operating across Africa. With it, both individuals and concessionaires will be able to “sell cars, bikes and trucks, more safely and rapidly.”
Carasigbe.com can be accessed on...
Only 8% Togolese would go to Europe if they had to emigrate. This was revealed in Afrobaromètre’s latest survey on emigration in Africa.
The survey conducted in November 2018 indeed shows that 4 out of 10 Togolese would rather go to another West African country (43%) or another region in Africa (12%).
These figures align with a global trend emerging across the continent.
Africans often...
Ethiopian Airlines won the African Champion of the Year at the 2019 Africa CEO Forum in Kigali. This reflects a “vote of confidence” in the company, two weeks after it suffered the crash of one of its Boeing 737 max; an accident that killed 157 people.
The title rewards the airlines’ efforts in contributing to regional economic integration in Africa. Ethiopian airlines competed with other...
From April 11 to 19, 2019, an agricultural fair will be held at the Palais des Congrès of Kara. This, ahead of the 11th National Togolese Farmer Forum (FNPT).
During the fair, local agricultural products will be promoted, same for technological innovations, agro-industrial products, and many more.
The fair’s goal, according to the ministry of agriculture which is behind the initiative, is to...
On March 25, 2019, a three-day workshop on social entrepreneurship was started at the University of Lomé. Initiated by the US embassy and the national coalition for youth employment (CNEJ). This workshop aims at helping young people build their ideas and turn these into products meeting international standards.
What distinguishes social entrepreneurship from traditional entrepreneurship is that...
On the sidelines of its fifth anniversary, the National Fund for Inclusive Finance unveiled new products it will be offering. These include a solution to directly refinancing beneficiaries reaching out to financial partners and another to help beneficiaries formalize (PAF).
The two products were launched in Kara last Saturday during a ceremony presided by Togo’s head of State, Faure...
Almost a million beneficiaries. That is the number of people that received BBOXX solar kits worldwide so far.
The British firm indeed declared: “To date, we have provided clean, cheap and reliable electricity to about a million people.” Africa is the greatest beneficiary since it has the highest demand for BBOXX’s products.
BBOXX on the continent operates in Rwanda (its largest market),...
In Togo, 85% of LLCs created in 2018 were under a private deed, meaning involving no notarial deed. This equals 2,200 companies over a total of 2,587, the rest having been established with a notarial deed.
This data comes from the Centre for Business Formalities (CFE) and reflects the multiple reforms initiated by the government in the recent years to improve business formalization.
More...
Today as announced earlier, the special Invest in Togo session dedicated to the PND’s promotion in Kigali opened, chaired by the Togolese president.
Hosting the session are President Gnassingbé himself, Sani Yaya, his minister of finance, Gregory Krief, Managing director MSC Togo and the Lomé Container Terminal (LCT), and Frederic Dovi-Akué, MD Do Pharma SA.
“65% of funds needed for...
After rising in the previously released Doing Business 2019, Togo now aims to be among the top 100 of the global ranking in the next release. To this end, it implemented various reforms focusing on key indicators.
There is for example the execution of commercial contracts to ease access to allow business owners to access commercial courts more easily. The information was disclosed by the...