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Togo wants to establish a new investment framework, in line with its development goals.
Indeed, during the recent council of ministers, Sani Yaya, minister of economy and finances, declared that the measure would involve reforming existing framework, “so it becomes more attractive for investors, while ensuring their contribution to public finances”.
Streamlining tax expenditures could boost...
Yesterday, the Justice Support Programme was reviewed during the third meeting of its Steering Committee.
In detail, the program’s four axes of intervention were reviewed. These include the reinforcement of justice’s regulation framework, improving access to law and justice for the people, reinforcement of framework relating to fight against corruption and illicit enrichment. Last is the...
In 2017, Togo exported CFA88.579 billion of agricultural products, up 29.9% compared to the previous year (CFA68.173 billion). This was revealed in the balance of payments and global external position of Togo released by the BCEAO.
The surge was mainly driven by a 39.9% rise in cotton fiber exports, as well as of other agricultural commodities and vegetal food products.
In detail, Togo exported...
The African Development Bank (AfDB) and the European Union (EU) just decided to disburse $22.7 million for the construction of the Abidjan-Lagos corridor. The related financing agreement includes a $10 million grant from the European commission, and was signed last Monday.
The Abidjan-Lagos corridor which passes through Côte d’Ivoire, Ghana, Benin, Togo and Nigeria, will serve local...
Whilst the banking sector in Togo is showing interest in promoting renewable energy and protecting the environment, the local subsidiary of Oragroup is the first to truly commit to a transition from fossil fuels to renewable energy.
The banking institution plans to deploy, at its Lomé-based headquarters, a PV system of 400 MW under a construction deal signed with Otamari. The project has a...
A delegation of Togolese ministers recently visited the site for the construction of the Kpendjal bridge in the Savanes region. The infrastructure which is 45% completed will help boost trade between Togo, its neighbors, Benin and Burkina Faso.
The bridge aims at opening up the Kpendjal community, whose inhabitants mostly live on commercial husbandry and farming, to the countries mentioned...
The West African Development Bank (BOAD) is organizing in Lomé a five-day workshop on new procedures relating to the provision of public procurements to economic actors in Togo.
The workshop aims at “helping actors concerned by public procurements to get more acquainted with these new tools”, says Christophe AGUESSY, special advisor at the BOAD. This would according to him “increase funds...
China will be giving Masters and Phd scholarships to Togolese students during the 2019-2020 period. The information was revealed by the country’s Office of Scholarships and Internships (DBS).
Eligible candidates must have a “six-semester bachelor's degree and a four-semester masters degree”. “Applicants interested in a masters degree must not be more than 25 years old while those...
Addis Ababa, Ethiopia’s capital, will host this month the 32nd ordinary session of the Africa Union’s Heads of State and Governments Conference. On this occasion, Togo’s President, Faure Gnassingbé, will present an assessment report on immediate measures implemented to ensure the effective functioning of the Single African Air Transport Market (SAATM).
The document contains results of the...
Coris Bank International Togo (CBI-Togo) just got an ISO-9001-2015 certification under the serial number FS 703571. This certification, the first obtained by a bank in the country, rewards Coris for the good quality of its management.
Delivered by London-based British Standard Institution (BSI), the certification “attests of the commitment of CBI-Togo to improving its processes and services in...
Togo Telecom will get its license renewed. The decision was approved during the recent council of ministers held last Wednesday, under its second decree. Approbation decree for the license’s renewal will be signed by the ministers of posts and digital economy.
This decision (license renewal) falls under the “opening of capital of Togocom Group” (product of the merger between Togo Telecom...
From January 28 to 30, 2019, Guinea Conakry hosted the West Africa regional meeting of the Africa Renewable Energy Initiative (AREI). Abass Aboulaye, Togo’s director of energy, represented his country at the event.
At this occasion, the AfDB which organized the meeting presented to participants available financing tools revolving around climate or energy, especially in regards to access to...
Togo has adopted a new legal framework for its clean power sector. This was during the recent council of ministers held last Wednesday.
In effect, under the third and fourth decrees passed at the council, Togo wants to “tackle the various challenges related to power insufficiency”, increase power supply and reduce power dependency by diversifying sources of energy. These require an...
Since it was established in 2014, the National Fund for Inclusive Finance (FNFI) disbursed CFA80.847 billion worth of loans. In detail, more than 1,553,201 loans were provided by the entity, including 626,849 renewals.
According to the institution, 95% of the loans have been repaid. This is about 2% more compared to end-June 2018.
Danyi, in the Plateaux region, is the prefecture to have repaid...
The Kuwait Fund for Arab Economic Development (KFAED) just provided Togo a CFA12 billion financing for its drinking water supply project in Kara (414km north of Lomé) and its surroundings.
The related signing ceremony took place on January 31, 2019, in the presence of Sani Yaya, Togo’s minister of economy and finances, and Nedhal A. Al-Olayan, Managing Director of KFAED.
The concerned...
Togo aims to have 28% of business owners operating in the country by 2022 to be women, in line with its gender equity promotion strategy.
Compared to 2015, this would represent a 6% increase and a 3% increase compared to 2018 where this percentage was 25%.
In terms of access to loans for women, this rate is forecast at 60% by 2022, against around 45% in 2015.
The various financial inclusion...