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In the 2018 edition of its yearly report, the African Economic Outlook, African Development Bank (AfDB) said Togo’s GDP should grow in the next two years.
According to the report, the economy should grow by 5% this year, a forecast that is below World Bank’s (5.3%) but exceeds last year’s growth (4.5%). The growth should be driven by abundant rains paired with appeasement of political...
According to a statement Central has been authorized to temporarily take charge of the technical management and exploitation of parking spaces in Lomé by Fongan Adegnon, president of the special delegation of Lomé. For the time being, this contractual approach to the management of parking spaces is experimental. According to the statement, the reason for outsourcing the management of these...
WAEMU wants to eradicate road overload through the adoption of its 14/2005 regulation on harmonization of standards and procedures for checking template, weight and axle load of heavy goods vehicles in its Member States. Togolese government, in order to assess real impact of road overload, will carry out an impact assessment as of March 2018 over 6 months, with AfDB’s financial support. The...
As of this year 2018, Togo economy will start benefiting from the numerous reforms initiated by the government. According to the African development bank (AfDB), the reforms initiated to improve the business climate and support the private sector, the incentives measures for transfer of ownership rights notably, should help boost private investments in 2018 and 2019. These private investments...
Togolese government continues its reforms and, in this regard, has considerably lowered the cost of online legal advertisements. While it was CFA5000, it has been recently reduced to CFA1000, thus reducing by 80%. Indeed, the government materialized a reform aiming to transfer to the business formalities center (CFE), exclusivity for legal advertisements on its website http://cfetogo.com/cfe/....
Still in line with its strategy to improve business climate, Togo’s government has announced tax incentives for companies registered at the Centre de Gestion Agréé (CGA).
Indeed, under its 2018 finance bill, article 1478, it provides tax incentives, not only to businesses registered under the single tax business regime but also to those registered under the real regime.
In effect,...
In Togo, the number of firms established by private deed, that is without resorting to an authentic deed, has almost doubled, soaring from 947 in 2015 to 1339 in 2017 (+40%).
Last year, 76% of firms that were established were LLC (limited liability companies), against 54% in 2015. A boom fostered by the reduction of minimum share capital to create an LLC, to CFA100,000.
In addition, other...
Last December 20, Togo’s parliament has approved the 2018 finance bill. The latter was amended slightly, in regards to taxes, compared to last year’s.
In fact, the government, this time, is betting on tax relief to efficiently tackle poverty, unemployment and boost consumption and investment in the country.
Lomé’s new strategy involves a battery of measures which should provide both...
Government wants to limit age of imported used cars in the country. This is the main substance of the decree adopted during a ministers council held on January 10, 2018. The limit itself is however yet to be disclosed.
Uncontrolled import of used cars, not meeting standards, and their use are causing health and environmental issues. Among others, there is noise pollution, pollution by chemicals...
In its New Year’s message, President Faure Gnassingbé has promised to award 20% of public procurements to young local entrepreneurs. “I plan to set aside up to 20% of public procurements to young entrepreneurs and women, who by the way will benefit from simplified procedures,” the president said.
This commitment aligns with the government’s will to boost socio-economic inclusion of...
Soon, the University of Lomé will have a mining information center. Its establishment will be part of a project to rehabilitate buildings and practical training rooms of the departments of chemistry and geology, at the faculty of science of Lomé.
The government will pay works for the project with a loan it secured from the International Development Association under the mining governance and...
Atcha-Dédji, managing director of state-run telecom firm Togocellulaire was recently appointed as the new head of the telecom holding TogoCom.
Also, Col. Gnama Latta, managing director of the national civil aviation agency, was named chairman of TogoCom, thus replacing Taïrou Bagbiegue.
Created on July 13, 2017 by a decree falling in the framework of the major transformation and upgrade...
Togo’s parliament has enabled the government to ratify the Seoul protocol to end illegal tobacco trade signed in November 2012.
The implementation of this regulatory framework aims to protect public health by enhancing the legal system with stricter penal sanctions and international law enforcement and judicial cooperation.
To be more specific, adopting this protocol should boost the...
In the event of a positive outcome following the dialogue between political actors of Togo, the country will receive $35 million from the US under the Millenium Challenge Account Threshold Program.
This was announced during the last quarterly meeting of the Millenium Challenge Corporation (MCC) board held on Dec 19, 2017. “Concerning Togo, the board is encouraged by the possibility of an...
The ministry of infrastructures and transports has officially launched the project for “digital payment” of road and railway fees.
Hence, subscription fees for driving license exam, car registration, registration card and other services provided by the road transport and railway office, will be paid digitally.
The related service can be accessed by calling *145#.
The project is part of a...
Togo’s government has canceled the measure requiring that one has a minimum social capital of CFA10,000 to create a limited liability company (LLC). This was decided during a ministers’ council held on December 19, 2017.
Hence, no such capital is required before creating an LLC, and the amount to be paid is actually set by venture associates. Entry capital is divided into equal social...