Togo: SOGEHP opens up and boosts its capital to raise funds for the Dogta-Lafiè hospital complex project

Health

Monday, 20 June 2022 17:25

Togo: SOGEHP opens up and boosts its capital to raise funds for the Dogta-Lafiè hospital complex project

(Togo First) - In Togo, the Hospital Management Company (SOGEHP), in charge of the operation of the Dogta-Lafiè hospital (formerly called Saint-Pérégrin) launched on Friday 17 June, a capital opening and fundraising operation.

The capital opening aims to diversify 49.975% of the operator’s shareholding, raising CFA25.01 billion in the process. However, the SOGEHP will remain the main shareholder in the project which is steered by Togo’s National Social Security Fund, CNSS.

Target: CFA15 billion in private placements

Concretely, 10,000 shares, at a unit cost of CFA1.5 million, will be sold, thus making a total of CFA15 billion. This will add to CFA10 billion contributed by the CNS and the SOGEHP’s share capital of CFA10 million.

"It is a private placement that has been recommended for this operation and there is a minimum subscription of 50 shares that have been defined, which would make a minimum of 75 million FCFA per investor," the SOGEHP said, adding that "any individual or legal entity can subscribe, regardless of their place of residence.”

"Strengthen the contribution of the private sector"

For Gilbert Bawara, Minister of Labor and Chairman of the Board of Directors of the CNSS, the operation is an opportunity "to strengthen the contribution of the private sector not only to the economic dynamism" of the country but also "to position Lomé as a destination of choice in medical tourism."

"Participatory governance and the quest for greater efficiency call for win-win cooperation. By joining this participatory financing, [economic operators will contribute to] ensuring the equipment of the hospital with an ultra-modern technical platform and to provide it with highly qualified medical staff," said Gilbert Bawara.

Improving the supply of health services and reducing medical evacuations

The Togolese government believes that once the project is operational, it will “serve a large part of the population, and, attract more people who were not used to going to the hospital, due to its low costs and health care quality”.

Nearly 600 employees are expected at the new complex, according to CNSS Director General Ingrid Awade. These will include specialists from the Togolese armed forces.

As a reminder, the hospital will be specialized in the fields of Medicine, Surgery, and Obstetrics (MCO).

Octave A. Bruce

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.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

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)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.