Togo to focus on cashew processing to boost the sector

Economic governance

Monday, 02 September 2019 13:14

Togo to focus on cashew processing to boost the sector

(Togo First) - Togo intends to focus on cashew processing to boost the performances of this sector and related exports.

In this regard, last Wednesday, President Faure Gnassingbé discussed with top management of Japanese firm Export Trading Group to set up in Togo an industrial cashew processing plant.

According to credible sources, the Asian firm will help local authorities set up the infrastructure. “This plant’s installation should create jobs and wealth, and this will be a major milestone in the country’s strategy to process cashew nuts and develop the sector,” experts said.

Export Trading Group, it should be noted, has been operating in Togo for 10 years, knowingly in the sectors of coffee, cocoa and leguminous crops. The new move between the two parties follows a tax implemented in October 2018, whereby respectively XOF5 and XOF45 were levied on a kilogram of processed and raw cashew. Just like the plant’s project, this tax aimed at strengthening the industry.

This year, Togo eyes a cashew output of 24,000 Mt which it plans to raise to 30,000 Mt in the next four years. Over the period, 20,000 new jobs should be created in the sector.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

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Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

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