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To boost investment, employment and inclusive growth in its partnering nations, in Africa especially, the European Union has during the last AU-EU summit launched its External Investment Plan (EIP).
On February 12, 2018, the European institution in effect presented this plan to Togolese political and administrative authorities, as well as to economic operators.
On this occasion, Eric Galley,...
After its successful bond issuance on WAEMU’ financial market (oversubscribed at 107%), last Jan. 26, Togo will re-attempt the operation to raise CFA20 billion.
Par value is CFA1 million which should be paid after 12 months. Togo’s treasury plan to issue the fungible bonds at many rates.
Looking at the similarity between the upcoming operation and the one carried out on January 12, 2018,...
From 2011 to 2016, Togo’s coffee output grew from 10,000 tons to 17,010 tons. Over the same period, areas where the crop was grown expanded from 37,768 ha to 40,499 ha while yield grew from 0.26 t/ha to 0.42 t/ha.
According to data relayed by newspaper l’Oeil d’Afrique, the rise has boosted the impact of the cocoa-coffee sector in terms of added value. In effect, in 2016, the sector...
Togo’s Revenue Office (OTR) started today, February 12, a nationwide exercise to sensitize lorry drivers about payment of the tax on road haulers income (IRTR) via mobile (Tmoney).
OTR, in this framework, has teamed up main syndicates, namely the Union Syndicale des Conducteurs Routiers du Togo (UNATROT) and the Union des Routiers du Togo (URT). A round in major bus terminals was organized.
...
Traffic at the Autonomous Port of Lomé (PAL) rose by 59.5% year-on-year, at Q3 2017. This was revealed in a sectoral report for this quarter released last Thursday by the Ministry of Economy and Finance.
From July to September 2017, port traffic reached about 6 million tons (5,751,600 tons),which is a 9.9% increment compared to the previous quarter.
Over the first nine months of last...
Last Friday, a meeting between the Commerce Chamber of Togo (CCIT), experts from the African Development Bank (AfDB) and actors of Togo’s automobile sector took place. At this occasion, the various participants debated the elaboration of a policy for the automobile industry within ECOWAS.
According to CCIT’s president, Germain Meba, the meeting was in line with the process aimed at...
At the end 2016, WAEMU’s automated processing and settlement system (STAR-UEMOA) had 118 participants, with four new comers, two from Togo. The latter are Coris Bank and Société Générale Togo. This was revealed in the latest annual report of the Central Bank of West African States, obtained by Togo First.
According to the document, intra-WAEMU transactions stood at CFA26,272 billion...
The 2018 edition of the Female TechCamp will be held in April-May. This was announced by the event’s promoter, the E2C TOGO association.
Registration to the camp have already started. While it will occur in May in Lomé, in Kara, it will be the month before (April). This edition will give young girls a new chance to fully dive into the tech world. The event targets mainly high school students,...
Soon, the college of agronomy overseen by the Univeristy of Lomé will have its tech hall renovated. Related works fall under the additional phase of the Programme for Agricultural Productivity in West Africa –Togo Project (PPAAO-Togo).
The programme is financed by the International Development Association and spearheaded by the ministry of Agriculture, Husbandry and Water, which is the...
In Togo, the government’s operation to improve public finances started at the beginning of 2017, and aiming to bring debt down to a bearable level, should bear fruits this year. According to Coface’s report on the country’s economy, “public debt should continue decreasing to stand below the WAEMU’s standard”, namely 70% of GDP.
At the end of 2017, public debt was at 77.3% of...
Last Tuesday, the 57th general annual meeting of the Inter-African Coffee Organization (IACO) came to an end. It was held in Grand-Bassam, 43km East of Abidjan, Côte d’Ivoire.
The meeting which opened a day earlier was placed under the theme: “Developing a sustainable coffee sector towards the emergence of Africa’s economy”. It regrouped 26 countries which discussed various ways to...
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,...