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Initially cut by 30%, fees for connection to medium-voltage distribution networks of the nation’s power utility, Compagnie Energie Electrique du Togo (CEET), have now been reduced by 50%, Togo First learnt.
“Fees for provision and installation, VAT excluded, and advances on consumption, in relation to connection to the medium tension (electric equipment and meters) which were initially...
Next year, the government plans to spend CFA35.4 billion to pay part of the arrears it owes local companies. This is after recently announcing that it had, by the end of November 2018, paid for the arrears of a total of CFA55 billion out of 64 billion it initially planned to pay under its yearly budget forecast.
By clearing part of the arrears, authorities wish to instill a new dynamic in the...
Next year, the government intends to allocate CFA284.4 billion to public investments, down 9.5% compared to this year where it planned to set aside 314.7 billion for these investments.
Despite the decrease, capital expenditures which should cover the investments represent almost a third of budget expenses. The latter are expected to amount to CFA894 billion, down nearly 3% compared to the figure...
In Togo, Nouvelle Société Cotonnière du Togo (NSCT) plans to rehabilitate and build infrastructures under its 2019 budget. For example, in the Savannas region, the company wishes to build cottonseed storage facilities for its Dapaong plant.
In the Central region, in Blitta more precisely, the NSCT also intends to build similar facilities.
These, the firm hopes, would help it manage its...
Anoumou Djidjolé Placca, a Togolese, just won the Vlisco Fashion Fund 2018. This was revealed by Vlisco itself on its facebook account.
The youth thus gained a CFA3 million financing which he will use to finance his fashion project. He will also follow in Amsterdam, Holland, a two-weeks sewing course at the renowned fashion school “Meester Coupeur”.
According to Vlisco, the work and talent...
Starting January 1, 2019, Togo’s government will provide a set of exemptions to firms undergoing restructuring and facing some difficulties.
In effect, tax reliefs will be granted for a maximum of five years, with the approval of the ministry of finances. This measure will benefit firms that operate in strategic sectors which are promising, in terms of employment and growth, as well as those...
Next month, a major beekeeping project will be launched in Togo, leveraging a fund of CFA500 million.
The project which is an initiative of the government, with the World Bank’s support, aims to boost employment in the beekeeping sector. Overall, 500 jobs are to be created in its framework, 100 in each region of Togo.
This project mainly focuses on youth who will receive adequate training and...
Recognized as a national park in 1975 and recommended, along seven other sites in Togo, to be listed on the UNESCO’s world’s cultural heritage in 2001, the Fazao-Malfakassa national park is about to be recognized as a biosphere reserve.
This title is given by the UNESCO to protected areas that contribute to reduction of biodiversity loss, improve local populations’ livelihood as well as...
In Lomé, the end of year’s 2-week business fair was launched on December 15, 2018. This year, it is simultaneously being held on three different sites: at the Agbadahonou site and at two other decentralized sites; Baguida and Adéticopé namely.
The aim of this event is to help economic operators take advantage of the latest opportunities and get closer to consumers.
This event and the Lomé...
This year, just like the previous one, the Togolese diaspora was one of the most dynamic in Africa, in terms of remittances. This was disclosed in a recent study of the World Bank on migration and development.
Aligning with a growth trend in other diasporas from the region, remittances from Togolese migrants to their home country should exceed $400 million (CFA232 billion) in 2018.
As a...
Earlier this week, the UNCTAD published the 2018 UNCTAD B2C E-commerce Index, which determines the place of e-commerce in 151 economies. Four key indicators are considered in this index.
For Togo, this edition portrays a nascent and lagging e-commerce sector, following the same trend as in Africa that is clearly poorly prepared for e-commerce and taking less advantage of the digital...
Togolese economic operators are taking part in the 1st Inter-African Trade Fair -IATF- currently being held in Cairo, Egypt. The 7-day show, jointly organized by the African Union, Afreximbank and the Egyptian government, opened doors December 11.
It aims to boost intra-African trade and support the implementation of the African Continental Free Trade Area (ZLECA), the agreement of which was...
The amount remaining to be paid by Togo as public debt securities issued via the regional financial market of the West African Monetary Union (WAMU) has, for the first time, exceeded 1,000 billion CFA. Indeed, BCEAO indicates, the figure stood at 1,039.7 billion at the end of September 2018.
According to the Apex bank, the volume of outstanding public debt securities, which is included in the...
With support from the Francophone Union for Internal Audit (UFAI), The Institute of Internal Auditors (IIA-Togo) will organize from January 9 to 11, 2019, the third edition of Togo’s national forum for internal audit.
Themed “Internal audit for Concerned Parties”, the upcoming edition will take place in two sessions. The first which is to take place on Jan 9 will be dedicated to...
Following deliberations last July 25, the African Biofuel and Renewable Energy Company (ABREC) recently increased its capital by CFA182 million.
In detail, Togo First learns, 182 new shares with a nominal value of one million were issued to this end. According to the document disclosing the information, the shares have been fully subscribed by legal entities with preferential subscription...
For the first time since the end of 2016, economic growth (GDP) in Togo exceeded 5%, data from the BCEAO shows.
Indeed, the figure which stood at 4.4% in 2017, 4.5% in Q1 2018 and 4.7% in Q2 2018, passed 5% at the end of the past quarter. For the whole year, Togo’s average GDP is expected to stand at 4.9%.
Compared to other countries of the sub-region like Benin, Côte d’Ivoire,...