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Many years after health insurance was made compulsory for all State workers, authorities are now thinking of extending health coverage to the informal sector in Togo.
In fact a workshop focused on this topic is taking place on Feb 7 and 8, 2018. The meeting regroups officials from the ministries of health, civil service, labour and administrative reforms, as well as representatives of the...
By 2027, Togo’s tourism industry should generate 86,000 direct and indirect jobs, up 0.7% or 8,000 jobs, compared to 2016. The figure would represent 5.9% of all jobs generated by the economy, according to the latest report of the World Tourism Organization (WTO) on tourism’s impact on Togo’s economy.
According to the report, the sector of tourism and travels should generate 38,000 direct...
Three consulting firms, of which two are Togolese, were selected following the international tender launched at the end of June 2017 to assess financial and organizational capacities of seven Togolese cities. The firms concerned are Conseils-Réunis et Audit & Conseils-Réunis, Poly Consult Togo, and SONED-Afrique Sénégal & ECU CANADA. The latter is a Senegal-Canada-Togo...
Initiated some months ago, the procedure for the purchase of the Banque Populaire pour l’Epargne et le Crédit (BPEC), by insurer Sunu Assurances, is about to be finalized, sources close to the deal revealed.
Sunu Assurances has already spent CFA18 billion to fix the lender’s finances which were not doing well. With 30 billion more, experts estimate, the bank should be revived effectively....
On February 27-28, 2018, Togo will host its first blockchain technology and cryptocurrency focused conference. The initiative comes from Technologies Réseaux et Solutions (TRS) and Ghana Dot Com (GDC).While blockchain and cryptocurrency’s emergence is revolutionizing commercial transactions all around the world, Togo still records a very low penetration rate for cryptocurrencies.The event,...
This year, the African Import-Export Bank Bank (Afreximbank) should raise funds to support trade and construction projects in the sectors of transport, energy and logistics in Togo. This was disclosed by Coface last week, in its latest economic outlook.Though the credit-insurer did not precise the amount to be disbursed, the Cairo-based lender could spend up to a billion dollars, according to its...
To improve land management in Togo and simplify procedures to obtain land titles, the Office of Domains and Cadastre has decided to rely on digitization.Falling under reforms initiated to facilitate property transfer, a land digitization operation helped dematerialize 43,880 deeds out of 46,183 issued. Thus, at Dec. 31, 2017, 95% of issued deeds were digitized. This was disclosed in a document...
Seven months after putting in place a State-Private sector consultative committee, the government of Togo just launched the Business Climate Cell (CCA). The latter’s objective is to coordinate ministries’ efforts, in order to insure synergy and efficient follow-up in the implementation of reforms aimed at improving businesses in Togo.The launching ceremony and validation of global action plan...
Soon, a single desk dedicated to youth and women will be opened to federate all operations related to the issuance of administrative documents requested during public tenders. This was revealed in a document signed by the National Directorate of Public Procurements Control (DNCMP).The desk will help centralize in one place, all operations for the issuance of documents necessary to economic actors...
German firm Petrofer which specializes in industrial lubricants, oils and greases, has announced last Saturday it entered the Togolese market.In effect, it is the Togolese firm, Equilibro Distribution, which will be in charge of selling Petrofer’s products in the country.With more than 60 years of experience, the German company is the world’s number one industrial oil maker. It provides...
Togo’s economic actors are complaining about how fast taxes of regional and sub-regional integration institutions are being implemented. In fact, they denounced this to the government’s delegation presenting new provisions of the 2018 finance law.This was last Wednesday, during a meeting organized by the Employers’ association national council.The private actors ask the government to create...
During the last ministers’ council, held on Febuary 1, 2018, the government has adopted a bill on the new tax code.According to the minutes of the meeting, the need to reform the general tax code is to be attributed to a number of reasons; the main one being that Togo’s general tax code which results from a law passed on December 30, 1983 and has been amended repeatedly, has become obsolete....
As promised by President Faure Gnassingbé, the government has adopted Feb. 1, 2018, a decree stating regulatory provisions regarding the awarding of part of public procurements to youth and women. “Each contracting authority is to set aside at least 20% of procurements under its plan for public procurements to the Togolese youth (18 to 40 years old) and entrepreneur-women (no age limit)...
From CFA252,600 in 2012, one must pay CFA29,500 now to create a company in Togo. This amount is to be paid to the Centre for Companies Formalities (CFE).This was disclosed by Prime Minister Komi Selom Klassou, on the sidelines of a workshop to validate and launch the action plan for business climate’s improvement in Togo. The meeting took place last Tuesday at Sarakawa hotel, Lomé.The decrease...
Personal initiative training pays about three times more than standard business training programs. This is the result of an experiment conducted by World Bank on some micro businesses in Lomé, Togo.“The personal initiative training increased firm profits in Togo by 30%…” while those who received traditional training (accounting, marketing, and human resources management mainly) increase...
Telecommunications sector should grow by 6.5% average per annum in 2018-2020, generating $617 million of revenues by 2020, against $451 million in 2015. This is revealed by Pyramid Research in its last report focused on the telecommunication sector in Togo.According to the report, in the years to come, mobile market’s growth will be driven by a great penetration rate for mobile,...