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In Togo, fuel prices at pumps have slightly risen in the wake of rising prices of oil barrels on the eve of a crucial OPEC meeting in Bakou, Azerbaïdjan.
On average, these pump prices rose by 2-3% (15 to 18 CFA Francs).
As of today March 19, 2019, the price of super unleaded rose by 16 FCFA to be 564 FCFA. Kerosene is now 505 FCFA and the two-stroke oil mixture is 661 FCFA. For gasoline, it...
Providers of innovative solutions for sustainable development are invited to apply for the Zayed Sustainability Prize edition 2020. This competition, designed to reward innovative achievements for sustainable development, comprises five categories which are Health, Food, Energy, Water and Global High Schools.
Applications are open until May 30, 2019. According to the United Nations reports on...
In Togo, it is now possible to create a company within seven hours. This was revealed by Samuel Sanwogou, director of the business start-up centre (Centre des formalités des Entreprises-CFE), last Friday at the exchange workshop organized by the business council (Cellule Climat des affaires-CCA) to present the new reforms initiated this year.
According to the official, since...
In Togo, almost all land titles have been digitalized, with only one percent left. The remaining titles are those that date back to German colonization which are yet to be found. This was revealed in the latest report on progress made with structural reforms agreed with IMF, under its extended credit facility (ECF).
At the end of 2018, 95% of the titles had been digitalized (43,880 titles out of...
Banque togolaise pour le commerce et l'industrie (BTCI) will also soon start offering services to enable taxpayers pay their taxes and duties online. The Togolese Revenue Office made the announcement this Friday, during talks on reforms initiated to improve the local business climate.
The bank will thus become OTR’s third partner in this regard, after Ecobank and more recently Union Togolaise...
In 2017, Togo exported 30,265 tons of fruits and vegetables, according to the national institute of statistics, economic and demographic studies (INSEED). This volume was valued at CFA4.5 billion.
Over the same period, the country imported 8,385 tons of fruits and vegetables, valued at 1.5 billion CFA.
To date, Togo produces 60,000 tons of fruits and 40,000 tons of vegetables every year. These...
Germany recently decided to provide Togo €66.5 million, under their bilateral cooperation.
“Germany is ready to inject an additional €66.5 million to support the Togo-Germany cooperation,” said Brigitte Pickel, head of a German delegation which came to Togo at the beginning of the week to discuss furthering cooperation between the two countries.
Parts of the funds will be used...
On the second day of President Gnassingbé’s trip in the United Arab Emirates, two major Emirati groups committed to invest in Togo’s agriculture and energy sectors respectively.
On March 12, Faure Gnassingbé met with the vice president and co-founder of Al Dahra Holding to talk about Togo’s goals in the agro-food industry. On that occasion, Al Dahra’s co-founder declared : “I...
Togo’s revenue office (OTR) signed last Tuesday a deal with Union Togolaise de Banque (UTB) to simplify and ease online payment of taxes and duties.
With this, UTB becomes the second bank to partner with OTR in the framework of e-payment’s implementation. The first bank was Ecobank transnational incorporated (ETI).
For the OTR, this partnership falls in line with its strategy to...
A delegation of the Abu Dhabi Fund should soon visit Lomé, according to the communication division of the Togolese presidency.
This visit falls under the fund’s desire to support Togo’s 2018-2022 national development plan (PND 2018-2022). It was decided during talks between President Gnassingbé and Mohamed Saïf Al Suwaidi, director of the Abu Dhabi Fund.
The talks concerned improving...
The eleventh edition of the notaries forum opened in Lomé, last Monday, March 12.
During the event, notaries will be updated on the new land code, their roles and responsibilities.
The three-day forum will help notaries better do their work, amid a changing regulation.
“The notaries’ forum is a real chance, an opportunity to boost skills,” Pius Agbetomey (photo), minister of justice...
In Q2 2019, Togo will try to raise CFA115 billion on the regional financial market. Broken down, the country’s public treasury should seek CFA40 billion as fungible treasury bonds and 75 billion as fungible treasury bills.
The figure was released in a statement issued by the West African Regional Debt Planning Agency. Provisional calendar for the fundraisings is however yet to be...
Togo’s Trade and Industry Bank (Banque togolaise pour le commerce et l’industrie – BTCI) has just committed five billion CFA to the agricultural financing promotion mechanism, MIFA. The facility, yielded after talks between the two parties involved, will support agricultural value chains in Togo.
Launched last June, the MIFA’s purpose is to encourage financial institutions to fund...
Odalys, Europe’s second largest tourist accommodation group, plans to set shop in Togo by 2022, in line with its expansion strategy in sub-Saharan Africa (SSA).
Besides the Togolese capital, the French group, which has already started operating in Douala, also intends to extend its footprint to Abidjan, Côte d’Ivoire by 2022. More than 10 projects are also being studied in markets such as...
AIM-listed mining firm Keras Resources has secured the approval of theTogolese government to export a 10,000 ton bulk sample of its manganese production of Nayega.
“I am delighted to announce that we have completed the bulk sample and received all the required authorisations to begin shipping for metallurgical testwork at the third-party ferromanganese smelter facility. The shipping is the...
Establishing the African Continental Free Trade Area (AfCFTA) could be detrimental to West African integration if all countries in this region fail to sign and ratify the related agreement. This was a concern expressed by the heads of the ECOWAS and WAEMU commissions during the two institutions’ latest joint meeting, on March 8th 2019.
To date, only eight countries in West Africa, including...