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Moody's Ratings has upgraded Togo's economic outlook from "negative" to "stable." In a rating published on September 27, 2024, Moody's maintained Togo's B3 rating for foreign and local currency borrowings. This upgrade follows a positive assessment from Standard and Poor's (S&P) about the Togolese economy.
Moody's cites improvements in Togo's budget management as a key reason for the...
Launched four years ago, Gozem's V+ program has helped 1,000 drivers become vehicle owners, including motorcycles, cars, and tricycles. This announcement was made on September 25, 2024, during a ceremony in Lomé where drivers received the keys to their vehicles.
The drivers are the first group to complete the process and are now financially independent thanks to this initiative. "We set up this...
By the first half of 2025, the French Development Agency (FDA) will provide Togo with €30 million to support local SMEs.
According to Papa Amoudou Sarr, Executive Director of FDA, the new funding falls under the Choose Africa program. Sarr announced this on September 27, in a meeting with Togolese Prime Minister Victoire Dogbé.
The funds will target startups and micro,...
Togo and Uzbekistan have established diplomatic relations. The agreement was signed last week in New York by the foreign ministers of both countries, Robert Dussey and Bakhtiyor Saidov. With this agreement, Togo becomes the 155th country to recognize Uzbekistan.
The cooperation between Togo and Uzbekistan will focus on economic partnerships. Uzbekistan is the second-largest economy in Central...
Lomé will host its first Children's Book Fair, the Salon du Livre Jeunesse (SALIJEL), from October 17-19, 2024. Organized by the "Lire au Togo" association and the Ministry of Culture, the event aims to attract over 5,000 fans of children's literature, including authors, publishers, and book professionals from across Africa.
"Books are not just pages to be turned; they are worlds to be...
Daba Finance, an Ivorian fintech company, won the 2024 Ecobank Fintech Challenge, taking home $50,000 and a strategic partnership with Ecobank. Kenya's Melanin Kapital finished second in the competition, winning $10,000, while Guinean fintech YMO took third place with a prize of $5,000. The People's Choice Award went to Togolese startup MiaPay.
The competition took place on...
During the 79th session of the United Nations General Assembly in New York, Togolese President Faure Gnassingbé met with UN Secretary-General António Guterres on September 23, 2024.
According to the Togolese Presidency, the two men discussed Togo's efforts to advance the Sustainable Development Goals (SDGs) and promote peace in West Africa. The political and security situation in West...
Lomé hosted the 6th Congress of Chartered Accountants of the West African Economic and Monetary Union (WAEMU) last Friday, September 27. The meeting gathered about a hundred chartered accountants from Union and Nigeria.
They discussed their contributions to the sustainable development of SMEs and the regional economy, focusing on "the role of chartered accountants in the inclusive and...
Togo’s Golfe 1 municipality has reported a budget surplus of CFA277 million for 2023. The commune raised CFA3.3 billion to finance its budget, initially set at CFA3.1 billion. These figures were shared during a public accounting session on September 24, 2024.
Under the leadership of Koami Gomado, now Minister of Territorial Planning and Development, the municipality spent CFA3.07 billion last...
On September 25, Togo presented feasibility studies for several energy-related projects it seeks to have covered by the Compact Program of Millenium Challenge Corporation (MCC). The projects aim to expand the electricity grid, boost access to electricity, and enhance regulatory policies and the skills of energy sector workers.
They include the PEREGL, which aims to extend electricity networks in...
Lomé will host the second edition of the National School on Internet Governance (École Nationale sur la Gouvernance de l'Internet) from October 7 to 9, 2024. Organized by Internet Society Togo, the event aims to train 50 participants from various sectors, including government, private industry, civil society, universities, and the technical community, on Internet governance issues.
Attendees...
In the first half of 2024, Togo's exports to West Africa reached nearly CFA400 billion, driven by strong port activity and re-exports. The country maintained a positive trade balance with other ECOWAS countries. The ECOWAS has 15 member States. Burkina Faso, Niger, and Mali recently exited the block.
According to data from the National Institute of Economic, Statistical, and Demographic Studies...
In New York, Togolese President Faure Gnassingbé called for a global response to the crises affecting many countries during his speech at the Summit of the Future at the UN on September 23, 2024. He emphasized the need for international cooperation to tackle food, security, and environmental challenges.
Gnassingbé stated, "There is no better future than in the collective action of our States...
The 9th Pan-African Congress, set to take place in Lomé from October 29 to November 2, has been postponed to an unknown date. The Togolese Ministry of Foreign Affairs announced this on September 23.
This is the second time the event has been postponed. It was initially scheduled for Oct. 22-25.
The congress aims to discuss "Renewal of Pan-Africanism and Africa's role in the reform of...
In Togo, a census campaign for administrative reserves began on September 23, 2024. The campaign will last two weeks and will focus on the 13 municipalities of the Greater Lomé Autonomous District. The goal is to identify and secure state-owned land to prevent speculation and illegal occupation.
By listing these administrative reserves, the government aims to clarify property boundaries. These...
During its 143rd board of directors meeting, the West African Development Bank (BOAD) approved a CFA6 billion allocation to support rural electrification in Togo.
The BOAD approved a total of CFA105.6 billion in new financing to support the region's economies. Including the recent funds, the Bank has disbursed CFA8,854.3 billion for the Union since its launch in 1976.
? 143ème CA...