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In five years, Togo's banks have cut their exposure to public debt by about 29% (28.88%). This information comes from a report by the International Monetary Fund (IMF) during Togo's recent economic assessment under the Extended Credit Facility (ECF). As of January 2024, the total receivables from the State and public enterprises made up 22.9% of the total assets in Togo's banking sector, down...
As of mid-2024, two years after its launch, the Tinga Fund had successfully connected 21,430 households to Togo’s power grid. The achievement is detailed in the "Reform Implementation Report" recently released by the Ministry of Economy and Finance. According to the document, the program has reached 54% of its goal of connecting 40,000 households.
However, it is important to note that from...
Togo will be hosting the second edition of the West African Leisure Festival on November 15 and 16, 2024, at the Kégué stadium in Lomé. This year's theme is "Leisure: vectors of social cohesion and community development."
Launched on October 28 in collaboration with the Confederation of Ministers of Youth and Sports of the Francophonie (CONFEJES), the event aims to showcase the often...
The Chamber of Commerce and Industry (CCI-Togo) is set to support 150 small and medium-sized enterprises (SMEs) with their digital transformation. The goal is to enhance the competitiveness of Togolese businesses through digital technology. The CCI-Togo has launched a call for expressions of interest in partnership with the German Cooperation (GIZ).
The call, open to companies that provide...
Kossivi Hounaké, Togo’s Trade, and Local Consumption Deputy Minister, recently outlined ways to address the issue of coffee and cocoa producers selling off their stocks. This announcement came at the launch of the 2024-2025 marketing season for these cash crops.
Selling off stocks poses a significant challenge for coffee and cocoa growers during marketing campaigns, affecting the...
In Togo, users of the Directorate of Cadastre and Land Conservation (DCCF), including notary offices, must pay their fees and taxes by December 31, 2024. The Togolese Revenue Office (OTR) recently issued the deadline in a press release. The fees mentioned are linked to processes like first registration and land transfers and must be paid in cash.
After December 31, tax authorities may take...
In Togo, tax expenditures reached an estimated CFA143.2 billion in 2023, up 25% from 2022’s CFA114.1 billion. Tax expenditure refers to government cuts to ease the tax burden on taxpayers or specific sectors. These measures often serve as support or incentives, leading to lower taxes for taxpayers and a permanent loss of revenue for the State.
The Ministry of Economy and Finance reported in...
The Haho 2 municipality, located in the Plateaux region of Togo, is drawing its Communal Development Plan (PDC). Local officials launched the planning phase last week in Asrama, the municipality's capital.
During this meeting, municipal leaders and experts outlined the main goals of the PDC, which will guide the commune's development. Planned actions will focus on key areas like health,...
Togo will present 35 projects at the 29th United Nations Climate Change Conference (COP29) starting November 11 in Baku, Azerbaijan. These projects include renewable energy, access to water, sustainable agriculture, reforestation, and electric mobility. The goal is to secure funding through meetings with potential contributors and financial partners.
Last week in Lomé, the Ministry of...
On October 28 and 29, the city of Aneho, near the border with Benin, hosted a training workshop for 50 women and young traders from Togo’s maritime region. Participants learned about customs procedures and regulatory requirements for cross-border trade, particularly along the Abidjan-Lagos corridor.
The workshop was organized by the Ministry of Trade and Crafts, and backed by the World Bank's...
The technical committee that monitors Togo’s Waste Management Project or GEDEC Togo met on October 22, 2024, in Lomé, the capital. They reviewed and finalized waste management policies for five municipalities: Zio 1, Ogou 1, Tchaoudjo 1, Kozah 1, and Tône 1. Organized by the Ministry of Territorial Administration, the meeting aimed to improve the living conditions of over 750,000...
The Togocom group, which is 51% owned by Madagascar's Axian, is separating its mobile money services into a new entity called Tmoney S.A. This company was established in April with a share capital of CFA1 billion and is registered as a financial company focusing on money transfers and e-money services. Catherine Savery has been appointed as the Managing Director of Tmoney S.A. Savery previously...
Mandatory product marking controls will start in Togo on November 4, 2024. This announcement was made on October 22, 2024, during a meeting in Lomé between the Ministry of Trade and relevant importers. The initiative is part of the Automated Marking Solution (SAM), which aims to tackle smuggling and counterfeiting.
Marking has been required since September 2020 and is designed to secure tax...
A Togolese delegation will visit Sochi, Russia, in November for the first ministerial conference of the Russia-Africa Partnership Forum. This was confirmed by Igor Evdokimov, the Russian ambassador to Togo, during an event on October 20, 2024, in Lomé. Several diplomats attended the event, including ambassadors from China and India. There were also officials from Togo's Ministry of Foreign...
A mass biometric census campaign is underway in Togo. Training for supervisors and biometric registration operators started today, October 28.
The training, organized by the National Institute of Statistics and Economic and Demographic Studies (INSEED), takes place across the country's five regions until November 18.
The campaign is part of the WURI-Togo project, which the World Bank...
The European Union (EU) delegation in Togo seeks to foster partnerships between Togolese businesses and Western companies. This initiative was discussed in a meeting earlier this week in Lomé between EU Ambassador Gwilym Jones and José Syménouh, President of the Togo Chamber of Commerce and Industry (CCI-Togo).
The cooperation will focus on attracting European investors to partner with...