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Adoyi Esso-Wavana Ahmed (photo), tax commissioner of the Togolese revenue office (OTR), product of the merger between tax and customs in 2014, provides an insight on various measures undertaken by his administration as well as upcoming ones. OTR has considerably helped boost the country’s tax earnings, recalling that these were barely above CFA400 billion in 2013.
Togo First :...
Among reforms implemented by the business climate cell to make Togo’s business environment more attractive, there is the reduction of cost for construction permit.
The National laboratory for Construction and Public Works (LNBTP) has indeed in January 2018, the 10th, reduced cost for soil survey from CFA900,000 to CFA350,000, before building a warehouse. Subsequently, construction permit’s...
At the end of 2017, Lomé’s court of first instance created commercial courts to handle minor conflicts involving sums ranging between zero and one million cfa.
Via the decree n° 2699 I2OI7, the president of Lomé’s court appointed two magistrates to oversee these cases. This is to ensure they are rapidly processed.
The decree states that related hearings will be taking place every...
DNCMP has released a note listing requirements that will be alleviated in the framework of the reform to provide 20% of public procurement to youth and women in Togo.
The document said that in regard to the requirement for a guarantee and a proof of financial ability, youth desiring loans will be backed by the national agency for the promotion and guarantee of financing for small and medium...
During the second edition of the Senegal-Togo economic and business days, Germain Mèba, president of Togo’s chamber of commerce and industry, and Daouda Thiam, his peer from Senegal, signed an agreement to reinforce the economic and commercial relations between the two countries.
Under the agreement, the two nations promised to improve their respective business climate, to attract more...
The Technical Secretariat for Transparency in Extractive Industries initiated a forum which began May 16 in Lomé to discuss ways to achieve transparency and accountability in mining industries, in Togo.
According to Didier Kokou Agbémadon, recommendations that will stem from the meeting will enable relevant services to better adapt mining governance to local realities. This comes after 8...
Japan International Cooperation Agency (JICA) will invest around CFA1 billion in a project to connect IT systems of Burkina and Togolese customs. The project aims to shorten time spent at the two nations’ customs office, while crossing their shared border; in addition, it should prevent issues on the road.
The project’s main goal is to facilitate trade, especially transiting of goods between...
Togolese firm Jus Délice just raised from Moringa fund €2.6 million (CFA1.7 billion) making it the third largest African investment of the fund ever.
The firm will use the monies to produce top-quality natural (organic) pineapple juice. It targets the Europe which represents more than 50% of global consumption for organic healthy juices. This market is expected to grow by about 10%...
Under the Threshold program of the Millennium Challenge Account, Togo should have started implementing various reforms in its land and ICT sectors. This, backed by a $35 million financing.
However, newspapers L’Union pour la Patrie, revealed on May 15, 2018, that the prerequisite for the program’s effective launch, which is the adoption of a new land code, has not been...
Under its 2018-2022 national development plan which is being finalized, Togo’s government plans to establish a manufacturing hub and two industrial parks in the country. Each of the parks will have 15 intensive factories producing textile, shoes, among others, for export.
Indeed, the plan should help boost Togolese textile exports to many countries, such as the U.S (in line with AGOA).
The...
Apparently, in Togo, commercial banks are the main financial contributors to firms’ investments in secondary and tertiary sectors.
Indeed, according to the 5th edition of the macroeconomic forecast investigation (a study based on a sample of 200 firms), local banks are about to become the leading funders (both internally and externally) of Togolese companies.
30% surge
Between 2015 and 2016,...
In Togo, the agropole development project will significantly impact trade balance, decreasing trade deficit from -44% to -38%.
These agropoles will help the country boost its agricultural output and agricultural processing capacity. Locally processed products should be enough to meet local demand but they will mostly be exported.
Pilot stage for the agropoles development will be carried out in...
Togo’s head of husbandry, Dr. Komlan Batawui wishes for more entrepreneurial initiatives in this sub-sector. He said this in an interview with local TV channel TVT.
According to the official, though entrepreneurship is taking over the agricultural industry overall, it should focus more on husbandry, to boost related output.
From 2002 to 2015, output in the sector grew relatively well....
After being in Kara last month, young high school and college students, women-entrepreneurs and digital lovers are in Lomé since last Monday for the 5th edition of the Female Techcamp. The event is organized by Education Citoyenne et Changement (E2C Togo), a non-profit organization which invests in education, in Togo.
The techcamp can be followed using the hashtag « #FTCLome2018 »,...
NUTRI-TOGO, a successful enterprise, headed by Edem Bessanh, has a business model that draws more and more attention in Togo. The firm produces Champiso, a mushroom-based drink.
To let those it incubates know more about entrepreneurship, Innov’Up, an incubator of women-entrepreneurs, has invited M. Bessanh for a training session called Innov Up Coach. It will take place on May 23, 2018.
This...
Asky Airlines has announced last May 9, that it got a new plane in its fleet : a Boeing 737 Next Generation. “We are happy to announce the arrival of the new ET-AVO B737 plane, which we baptized belle pluie”, a statement released on the firm’s Facebook page reads.
The new aircraft effectively landed in Lomé on May 7, from Addis Ababa. Its first flight took place on the...