The 19th edition of the International Fair of Lomé (FIL) kicked off on November 22, 2024, for two weeks. This year, the fair which is dedicated to trade, innovation, and economic exchange is held at the Centre Togolais des Expositions et Foires (CETEF). Mali is the guest of honor for this edition.

Togolese Prime Minister Victoire Dogbé chaired the opening ceremony, with other government officials, economic operators, and visitors from diverse backgrounds. 

Mali's presence at this trade event is significant. It is represented by a large delegation of economic operators eager to showcase the richness and diversity of their country's products. The Malian pavilion highlights handcrafted textiles, shea butter, artistic creations, and agricultural produce.

In his address, Massoudou Cissé, spokesman for Mali's economic operators at the fair, noted that Mali’s selection as a guest of honor reflects the Togolese authorities' commitment to strengthening the friendship and cooperation between the two nations while promoting economic opportunities.

This year, a highlight of the fair is the Mali Economic Day, which aims to provide a platform for discussions and opportunities for investors and entrepreneurs to forge partnerships with Togolese counterparts. 

Alongside this one-day event, several conferences are scheduled to focus on themes such as the interconnectivity of African markets and capacity-building for small and medium-sized enterprises (SMEs).

Kayi Mivedor-Sambiani, Togo's Minister of Trade, emphasized that the FIL presents a unique opportunity for economic operators to meet and exchange ideas. Organizers anticipate over 1,000 exhibitors and half a million visitors throughout the event.

Esaïe Edoh

Togo holds its first National Week of Protected Areas (SNAP). Started on November 26, the event ends on November 28. Held in Afito, in the Yoto Prefecture, 70 km northeast of Lomé, the capital, the SNAP aims to underscore the significance of protected areas and the vital role that local communities play in their sustainable management.

Themed “Local Communities at the Heart of the Sustainable Management of Protected Areas in Togo,” the event focuses on raising awareness among the Togolese populace regarding environmental issues, especially regarding how these natural spaces contribute to Togo’s socioeconomic development.

Participants are covering key topics related to protected areas, such as the current state of floristic and faunal diversity in these regions, their ecological, social, and economic importance, and the impact of community and communal forestry on conserving forest resources.

Togo currently boasts 83 protected areas, established between 1938 and 1958. These areas span 793,300 hectares or about 14% of the national territory. According to the Ministry of Environment, many of these areas currently face significant challenges, including increased human encroachment and pressure.

The ongoing event complements various recent actions taken by Togolese authorities to tackle these challenges. Such initiatives include the launch of the Gestion intégrée des Périphéries des Aires Protégées du Togo (GIPAP) project. Funded by the European Union with a budget of CFA19 billion, the GIPAP aims to preserve and enhance natural landscapes, particularly those within the Fazao-Malfakassa and Abdoulaye complexes. 

The GIDAP, a five-year program, seeks to align conservation efforts with local community needs while promoting innovative approaches to sustainable development.

Esaïe Edoh

Togolese microfinance institutions (SFDs) loaned CFA4.2 billion more in Q2 2024 or 1.2% than they did in the previous quarter.

 According to the Central Bank of West African States (BCEAO), which disclosed the data, Togo recorded the second-highest absolute growth within the West African Economic and Monetary Union (WAEMU) in H1 2024. Senegal came first, with loans surging by CFA42.1 billion from Q1 to Q2. After Togo came Côte d'Ivoire (CFA+2.8 billion), Benin (CFA+910.9 million, +0.4%), and Niger (CFA+350.5 million).

Overall, SFDs active in the WAEMU loaned out CFA2,561.2 billion in H1 2024. Over this period, Togolese SFDs recorded outstanding of nearly CFA400 billion (CFA395.697 billion), up by 13.3% from H1 2023.

Deposits Also on the Rise

Similarly, deposits collected by Togolese SFDs increased by CFA8.9 billion (+2.2% between Q1 and Q2 2024), sustaining the regional trend. According to the BCEAO, savings are predominantly held by men, but women and groups are beginning to play a more significant role in deposit mobilization.

Ayi Renaud Dossavi

A dozen Togolese startups are in Cape Town, South Africa, for the "Soft Landing" immersion program. The program began on November 25 and will end on December 2. It aims to provide Togolese entrepreneurs with insights into South Africa's technological and economic landscape, a crucial hub for businesses seeking opportunities across Africa.

Participating companies include Anaxar, Aviocole, Edole, Klumer, Kondjigbale, Robaloto, Semoa, Silimi, and Trankyl, all of which operate in sectors such as Fintech, HealthTech, and business networking. On their first day in Cape Town, the entrepreneurs visited Methys French South African Tech Labs—a prominent technology space—and WESGRO, the agency dedicated to promoting trade, tourism, and investment in Cape Town and the Western Cape. 

The Togolese entrepreneurs had valuable discussions with representatives from the European Union and international startups, exploring opportunities for enhancing Africa's tech ecosystem. The immersion trip is supported by Agence Togo Digital and the German Cooperation (GIZ). 

Ayi Renaud Dossavi

In Togo, President Faure Gnassingbé met with Jeremy Awori, the CEO of Ecobank, on Monday, November 25, 2024. They discussed the bank's operations and its impact on the Togolese economy.

"Our head office [Ecobank Transnational Incorporated] covers 35 countries across Africa and is based here in Lomé, Togo. It's essential to update the Head of State on our company and explore partnership opportunities to support Togo's development," Awori said after their meeting.

Supporting the Togolese economy

The leaders focused on initiatives to boost Togo's economic growth in areas like agriculture, entrepreneurship, infrastructure, and green energy.

"We are discussing opportunities for financing SMEs, agriculture, infrastructure projects, and green energy initiatives that can drive future economic growth," Awori stated. "We have a plan under his leadership as President, and we will follow that as we progress," he added, referencing the government's Togo 2025 roadmap and its key projects.

From December 3 to 5, 2024, Lomé will host the first West African Energy Cooperation Summit (WA-ECS). Organized by EnergyNet Limited with the Togolese government and support from the World Bank, the three-day event will gather experts, policymakers, and investors under the theme “Stimulating West Africa's Growth through Strategic Partnerships in the Energy Sector.”

The summit will feature sponsors like African Trade and Investment Development Insurance (ATIDI), EDF, AMEA Power, Kekeli Efficient Power, and ContourGlobal. Some of the key projects that will be covered at the summit include the West Africa Energy Pool, The solar farms project in Mauritania, Togo, and Mali, and the Nigeria-Morocco gas pipeline. 

The event will foster partnerships that support industrialization, agriculture, and other vital sectors in the region. It will also help local companies enhance their technical skills and access innovative financial solutions.

Mainly, the participants will cover topics such as attracting investment for energy infrastructure, cross-border collaboration, regional integration, and deploying renewable energies to meet 2030 targets. The strategic role of gas in the region's energy future will also be highlighted. “Improved energy availability is essential to boost industrialization, agriculture, and other sectors, including mining. This will contribute to the country's sustainable development,” said Abdoulaye Sylla, Managing Director of EnergyNet Limited. He added that “organizing such an event will position Togo as a key player in discussions about the future.”

Register to the Summit

Ayi Renaud Dossavi

The International Monetary Fund (IMF) considers Togo as an emerging model of economic stability. The Fund’s Executive Director for sub-Saharan Africa, Ouattara Wautabouna, said so last week during a meeting with Togolese President, Faure Gnassingbé. The two men met in Lomé on November 20, 2024. 

On the occasion, Wautabouna emphasized that Togo's economic performance reflects exemplary management, with macroeconomic indicators showing positive results. He pointed out that the nation has sustained robust economic growth above 5% while maintaining an inflation rate of around 3%. “Togo is a good pupil at the level of the International Monetary Fund, simply because the economic performance indicators are in the green,” Wautabouna said.

These remarks align with findings from an IMF mission in Togo last month. The mission, led by Hans Weisfeld, commended Togo's progress in implementing reforms under the 42-month program supported by the Extended Credit Facility (ECF). 

The IMF delegation also expressed satisfaction with the Togolese government's economic and financial reforms, noting that they are proceeding as expected. This progress sets the stage for a forthcoming disbursement of $58.7 million (approximately SDR 44 million) under the IMF arrangement.

Wautabouna's observations underscore international acknowledgment of Togo's efforts to maintain economic and financial stability while fostering sustainable growth. Recent ratings from Moody's and Standard and Poor's (S&P) have also reflected optimism regarding the Togolese economy's prospects.

Esaïe Edoh 

Africa Global Logistics (AGL), formerly Bolloré Transport & Logistics, has launched its "Accelerate" program in Abidjan, Côte d’Ivoire. The program targets African startups operating in the logistics sector. Six startups have been selected for the inaugural cohort. One of them is Lomé-based Eazy Chain, founded by Wilfried Dabire. The five others are PAPS and ALAL from Senegal, APPLOAD from Mozambique, and TAMBOUR and ALIA from Côte d'Ivoire. 

The incubation program will help selected startups engage with mentors, explore innovative logistics solutions, and participate in project sprints to refine their offerings. The initiative is hosted at AGL's Yiri Innovation Center in Abidjan. It will last six months and incorporate diagnostics, pilot projects, and comprehensive follow-up to foster participants’ rapid growth.

"Through the [Accelerate] program, we will benefit from AGL's strategic resources and high-level coaching to realize this vision and sustainably transform the African maritime sector," said Eazy Chain founder, Wilfried Dabire.

According to Asta-Rosa Cissé, Regional Director of AGL Côte d'Ivoire and Burkina Faso, the program is designed to accelerate the development of startups across Africa while enhancing their contributions to the digital transformation of the logistics industry.

Leveraging an Attractive Business Climate in Togo

Eazy Chain operates nationally under the brand "Togo Cargo" and aims to leverage this program to expand in Africa and abroad. "We chose to set up shop in Togo because of the ease of doing business, the security, and Lomé's strategic position as a regional hub," Dabire added.

The Eazy CHain CEO added: “Our flagship project is a feeder vessel service, designed to transform shipping in the region. This service will link the deep-water port of Lomé to the port of Praia in Cape Verde, with calls at strategic ports in the region. It will efficiently connect secondary ports to the main hubs, thus reducing logistics costs, transit times, and load breaks."

Over the next six months, Dabire’s firm will capitalize on the expertise of Africa Global Logistics (AGL), a significant player in the logistics sector with operations in 47 countries across Africa. The startup will mainly focus on enhancing its ship consignment capabilities, port management, and goods transit. This will improve its services and competitiveness in the sub-region.

Ayi Renaud Dossavi

The Electric Energy Company of Togo (CEET) will launch a satisfaction survey on December 1, 2024. The utility will evaluate the quality of its services and products among subscribers. The survey will last two months and cover all six regions of the country. 

“The operation consists of collecting subscribers’ opinions and measuring their satisfaction or dissatisfaction level regarding the quality of products and services provided by CEET,” the company stated in a press release.

The CEET hired Afriksurvey, a Senegalese firm, to conduct the survey. The deployed Afriksurvey staff will be “identifiable by vests and personalized badges,” the CEET informed.

The survey’s results will help the CEET better understand customer expectations and potentially enhance its services in Togo.

Ayi Renaud Dossavi