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While growth forecast is estimated at 5.3% this year, real gross domestic product (GDP) of Togo should reach $5.3 billion, against $4.8 billion in 2017.
Comparing with data we obtained, this would mean that Togo’s economy has doubled over 10 years. Indeed, back in 2007 the economy weighed about $2.53 billion, according to data from African Development Bank (AfDB).
Also, GDP per...
During the recent ministers’ council held on March 7, 2018, a bill for a new land and State property code was adopted. This is as previous laws were outdated causing a rise in the number of land-related conflicts.
The new bill should thus help “handle the consequences of strong land pressures caused by a rapid growth of population”. In addition, it will also allow to “satisfy...
ECOWAS’ Investment and Development Bank (BIDC), along with some other financial institutions, soon plan to inject $60 million to establish a regional maritime company. Sealink will be its name.
Overall cost for the project, backed by ECOWAS’ federation of West African chambers of commerce and industry (FEWACCI), is $100,000,000. Out of this, Togo is to invest $500,000.
The...
In 2017, overall, 200 young entrepreneurs were trained on management and 300 projects were funded by the Support Fund for Youth’s Economic Insertion (FAIEJ). Reporting this figure, local website Republic of Togo added that the fund spent CFA500 million to this end, creating by the way nearly 1000 jobs.
Launched in 2012 to tackle youth unemployment and promote entrepreneurship, FAIEJ exists to...
During a council of ministers held on March 7, a decree was signed to make ECOWAS insurance brown cards immediate and compulsory for every person with a motor liability insurance.
This is to better protect drivers within the community. Indeed, in case of accidents, Togolese nationals will be compensated rapidly and fairly for damages caused by non-resident drivers from other ECOWAS...
At the begining of January 2018, Togo’s President, Faure Essozimna Gnassingbé, had announced in his New Year’s address, a forum with the youth to know their expectations and suggestions regarding solutions to their challenges.
This meeting should be held in the first half of April 2018, according to a press release from the Presidency’s communication department.
Presentation of...
For the fifth time this year, Togo will issue fungible treasury bonds on the regional debt market, on March 16 to be precise. This was disclosed in a notice from the regional agency in support of the issuance and management of public securities in the WAMU (UMOA-Titre). Just like it aimed to raise during its latest issuance (Feb 26), the country seeks CFA20 billion through the...
Under its national electrification strategy, in rural areas particularly, Togo’s government benefited from US support through the US Power Africa Initiative.
US organization, Overseas Private Investment Corporation (OPIC), in fact informs that over the past 5 years, $2.4 billion were granted to nine African nations, namely South Africa, Togo, Ghana, Guinea, Nigeria, Kenya, Senegal,...
In West Africa, French-speaking countries listed under Ecobank’s WAEMU segment drive trade in the region with main hubs in Abidjan, Cotonou, Dakar and Lomé which is also a financial center. This was revealed in an analysis conducted by the research team of Ecobank Transnational Incorporated (ETI).
“Abidjan, Dakar, Cotonou and Lomé are key commercial hubs, canals for import and export...
Initially meant to occur last Saturday, the Takpapièni power plant was effectively commissioned on March 6, 2018. Present at the inauguration was the President himself, SEM Faure Essozimna Gnassingbé.
With a production capacity of 100 kWc, the new facility has an 8km-long Low Tension distribution network, equipped with 80 lighting poles and connection meters for users.
This way, just like...
Togolese population, both inside the country and outside, should exceed 8 million in 2018. This is according to the latest demographic projections of Ecobank’s research team released yesterday on africaficc. The latter is a new website dedicated to forecasts and analyses of economies where the pan-African bank operates.
According to data from Ecobank, given the strong economic growth that Togo...
In Togo, a firm specialized in solar power production (PES Togo) recently celebrated its 10-year anniversary in the country.
In this framework, it held open houses from February 24 to March 3, 2018. On that occasion, the firm’s Managing Director, Souleman Nana, recalled advantages of renewable energies while reiterating its commitment to their development. Amongst advantages cited, he...
From credible sources, we learnt that the government wishes to boost access to mining-related information, through the Mining Governance Development Project (PDGM).
In this framework, it plans to put in place a team to draw specifications related to the creation and commissioning of an information access system. The latter’s goal is to disseminate information on mining operations and its...
Last Friday at Kpalimé, a touristic city located 120km north-east of Lomé, the Association of Kloto’s Civil Society Groups organized a workshop to validate the first draft of the Tourism Development Plan.
The workshop’s main objective is to establish a favorable framework for the development of responsible and quality tourism in order to mitigate impacts on environment, economy and...
In Togo, value of mobile transactions more than doubled in 2016, from CFA101 billion in 2015 to CFA263 billion, report from BCEAO shows. Recalling that this figure stood at only CFA5.4 billion in 2014, this is a significant improvement mostly driven by the introduction of many innovative services in the country.
Not only did the value of these transactions soar but their volume did as well....
Togo will be steering the Abidjan-based regional academy of Marine Sciences and Technologies (ARSTM) for the next 12 months. This was decided during the 11th session of ARSTM’s board which just ended in Lomé.
Togo’s minister of transports, Ninsao Gnofam, who will head the entity will have to make sure that all member-States pay their contribution and continue ongoing projects. “Nowadays,...