In 2017, the extractive sector generated CFA13 billion for the State

Mining

Tuesday, 01 December 2020 17:47

In 2017, the extractive sector generated CFA13 billion for the State

(Togo First) - In 2017, all 23 companies active in Togo’s extractive industry generated around CFA13.2 billion for the State. 86% of the sum came from mines (around 75%) and quarries (12%) and were allocated to the national budget. The rest (around 14%) came from the exploitation of groundwaters (6.7%), gold sales (6.5%), and artisanal mining (which represented 0.1% of budget revenues.

The figures were disclosed in the presentation of the report on Togo’s initiative for transparency in extractive industries (ITIE-Togo) in 2017. The document, which is being validated, was presented on November 30, 2020, during the 35th ordinary meeting of the committee steering the initiative.

On this occasion, the committee concluded that “overall, Togo has made significant progress in the implementation of the ITIE Norm.”

“Mining contracts have been published in Togo, as well as the operating permits of mining companies, which are available on the websites of the General Directorate of Mines and Geology (...). Generally speaking, the companies have declared their real shareholders,” said Didier Kokou Agbemadon, national coordinator of ITIE-Togo.

Moreover, “companies have published their financial statements, especially crown corporations.”

The report was presented to the minister of energy and mines, Mila Aziable, who opened the meeting. She used the opportunity to reiterate the government’s commitment to clean up the sector and “ensure together that the ITIE becomes a model for the good management of the extractive sector, and the management of the State’s finances.”

Ayi Renaud Dossavi

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)

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.