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Last Friday, Togo’s ministers’ council announced that 2018 budget was reduced by 1%, from CFA1,318,500,000,000 to CFA1,308,134,862,000.
This is due to the sociopolitical crisis that has been affecting the Togolese economy since the second half of 2017. Moreover, there are claims of education workers, an increase of subsidies to the universities of Lomé and Kara, among others. “Looking at...
As member of the African Risk Capacity-ARC, Togo was selected to host the pilot phase of a project that aims to insure risks related to flooding. This aligns with the government’s goal to make agriculture a true economic driver.
ARC will, in the framework of the project, not only identify risks related to flooding and drought, but also increase the country’s capacities in terms of disaster...
Togo’s President, Faure Essozimna, was named “champion” of the Single African Air Transport Market (SAATM) by his peers, on May 28, 2018. This was during the fourth reunion of ministers for the treaty’s operationalization.
Faure Gnassingbé indeed provided a boost to related works by fully participating at the opening ceremony for the meeting. Present also was the president of the...
The Bloomberg New Energy Finance (BNEF) mission, carried out as part of the implementation of the Climatescope independant assessment 2018, ended on Friday 25 may 2018 after three days of intensive work.
Led by Mrs. Eleanor Lazat, the mission on the attractiveness of investments in clean energy sector was successfully completed in line with the set goals. The mission's work provided an...
In 2017, the West African Development Bank (BOAD) secured CFA1.3 billion of grants from the Global Environment Fund (GEF) for clean energies development in Togo. This was disclosed by the institution’s president, Christian Adovèlandé, ahead of the 45th anniversary of the bank.
The financing was provided to “boost Climate projects that are likely to benefit from funding falling under...
Last Friday, Eleonore Lazat, head of the Bloomberg New Energy Finance (BNEF) mission recently in Togo to collect data for the 2018 Climatescope report, was received by officials from the ministry of environment and forest resources. This was the last day of the mission in the country and on this occasion, Lazat told the minister’s cabinet director and others concerned by the study, about its...
Togo, like all other countries of the West African Monetary Union (WAEMU), is going through a true mobile revolution.
According to the country’s minister of posts and digital economy, Cina Lawson, who is currently attending the 2018 VivaTech Paris Conference with 10 Togolese startups, “in the past five years, mobile penetration rate in Togo has soared by 700%”.
The official made this...
May 25, the Togolese Revenue Office (OTR-Office Togolais des Recettes) launched at its headquarters in Lomé, a national census to develop a land inventory. This was disclosed to the press by tax commissioner, Adoyi Esso-Wavana Ahmed.
According to the commissioner, before collecting land tax, it is important to have crucial information about the given land, such as the name of its true owner or...
A group of ten Togolese startups led by the minister of posts and digital economy, Cina Lawson, is currently in Paris for the Vivatech conference, which is under the patronage of French President, Emmanuel Macron.
“I came with about ten entrepreneurs who develop many apps. I would like to congratulate them for their constant genius,” the minister said in a tweet, adding that she is “proud...
A mission from Bloomberg New Energy Finance (BNEF), a U.S. research firm that helps energy actors study investment niches and opportunities, is actually in Togo. The mission which came on May 23 will leave on May 25.
It came to collect data for its 2018 Climatescope annual report. The latter looks at the profile of about 100 nations and assesses their capacity to attract investment into clean...
Last Wednesday, Togo’s employers association (Conseil national du patronat –CNP Togo) validated in Lomé its 2018-2022 strategic plan. This plan will cost CFA5 billion and support firms towards sustainable growth.
“This plan will help CNP-Togo overcome challenges that will arise in the years to come while analyzing social and economic environments and to anticipate and adapt to changes in...
Togo: Health-accident and car insurances contributed about 70% of monies paid to insured individuals
In Togo, 70% of monies paid to users subscribed to insurance policies, yearly, come from health-accident insurances and car insurances.
Car insurances provide 33% of this value while 36.6% fall under health and accident insurances.
Meanwhile, penetration rate of insurance in the country is quite low, contributing less than 1.5% of GDP. According to the cabinet director of Togolese ministry of...
The World Bank has granted a funding of $200 million (about CFA110 billion) to 19 West African and Sahel countries, including Togo. This is in the framework of its Regional off-grid electrification project (ROGEP), which aims to provide beneficiaries support to foster a sustainable and scalable off-grid electrification market to meet the electrification needs of unserved populations (remote...
Digital transformation. That is what the Togolese Social Security Fund (CNSS in French) relies on to accelerate its processes and improve the quality of its services.
Indeed, the fund which is headed by Ingrid Awadé, launched since November 2017 a major project for digitalization. E-declaration was one of the services falling under this project.
Others such as requests for social...
Ahead of the fourth ministerial meeting for the launch of the Single African Transport Market (SATM) which will be held in Lomé, on May 25-28, 2018, Asky Airlines, from Togo, and Rwandair, Rwanda, inked on May 22, a bilateral agreement to serve the countries respective capitals at lower costs.
Representing the two airlines during the signing ceremony were the respective ministers of transport...
Lomé-based pan-African bank Ecobank has won the Best Digital Strategy Award at the Retail Banker International Awards ceremony held in London last week.
Commenting on the development, the group’s CEO, Ade Ayeyemi, said: “This award is a real vote of confidence for the hard work of everyone at Ecobank and the massive strides that we have made in meeting the changing ways that consumers are...