TICAD VIII: Japan commits $30 billion to Africa over the next three years

Economic governance

Monday, 29 August 2022 16:35

TICAD VIII: Japan commits $30 billion to Africa over the next three years

(Togo First) - Japan’s PM, Fumio Kishida, announced last weekend that his country will spend $30 billion on various African projects over the next three years. This was during the Tokyo International Conference on African Development (TICAD VII).

Speaking in a videoconference, the Asian leader said Japan “prioritizes an approach that values human investment and quality growth.”

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Togo sent a delegation led by the president of the national assembly, Yawa Djigbodi Tsegan, to attend the event. Other members of this delegation included the Minister of trade and local consumption, Kodjo Adedze, and the Minister in charge of universal access to health care, Dr. Mamissilé Akla Agba-Assih.

5 impots le cameroun collecte 1 597 milliards de fcfa a fin juillet 2022 soit une hausse de 23 sur un an L

Togo-Japan cooperation

Japan, let’s emphasize, supports Togo in many areas, such as logistics, education, health, water, energy, fishing, and agriculture. Let’s also add that Lomé wants to revitalize its cooperation with the Asian country.

Some of the projects that Japan financed in Togo include the fishing port of Gbétsogbé, a project to reinforce its main corridor, and efforts to cope with Covid-19. Tokyo also supports Gnassingbé’s nation through the Kennedy Round.

Before TICAD VIII, Togo pleaded with Japan for the reallocation of special drawing rights (SDRs), to help revitalize African economies.

This year, the TICAD was held in Tunis, on August 27 and 28. It was attended by heads of state and government, institutions, economic operators, Japanese officials, members of the African Union, the UNDP, the World Bank, the African Development Bank (AfDB), and the UN Secretariat for Africa.

Written by: Ayi Renaud Dossavi

Translated from French by Schadrac Akinocho

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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 .

TRADING ACROSS BORDERS (more info)

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)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

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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.

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