The Competence Center for German Export Financing for West and East Africa is now open in Togo. On June 3, in partnership with the Togo Chamber of Commerce and Industry (CCI-Togo), the German Center presented its export credit guarantee opportunities to some 400 Togolese entrepreneurs in Lomé.

Through the Center, Togolese businesses, SMEs especially, can benefit from substantial financial support for their projects. For example, a Togolese entrepreneur wishing to set up a production plant could obtain a loan covering a third of the total cost of the equipment purchase. This loan can be repaid over up to 20 years.

The Center also facilitates negotiations and the signing of collaboration agreements between the Togolese operator and the German supplier.

This offer from Germany, according to Nathalie Bitho, President of the Special Delegation of the CCI-Togo, "responds to the major problem of the low financial capacity of Togolese companies".

For her part, Emilia Von Mittenheim, the Center's Director, notes that her structure's main ambition is to increase partnerships between Togolese and German economic operators.

Esaïe Edoh

Togo will close a new issue on the WAEMU securities market on June 7, 2024. Through the simultaneous issue - fungible bills and fungible bonds - the country hopes to raise CFA35 billion. 

In detail, Lomé plans to raise CFA15 billion through the bills and the rest through the bonds. The former securities have a par value of CFA1 million, mature over 182 days, and offer varied interest rates. The latter securities have a par value of CFA10,000 with two maturity periods: three and five years. The securities yield an interest of 6.15% and 6.40%, respectively. 

As usual, proceeds will help plug the 2024 State budget which stands at CFA2,179 billion, spending and income.

So far this year, Togo raised CFA393 billion on the WAEMU Securities market. This is more than 50% of the amount the country seeks on this market in 2024, knowingly CFA607 billion. 

Esaïe Edoh

Togolese President, Faure Gnassingbe, is in Seoul, South Korea. The African leader attends the first Korea-Africa Summit which began today and ends tomorrow.  

The event aims to bolster and diversify cooperation between the host and participating nations. 

On the summit’s sidelines, an economic forum will be held to deeply explore partnership opportunities between Togo and South Korea, in sectors including investment, energy, trade, infrastructure, agriculture, digital, health, and education. 

Read Also: Togo and South Korea Look to Deepen Their Cooperation

Togo and South Korea have been diplomatic partners since 1963. Over the years, they have cooperated in various areas, such as food security, health, and climate change. For example, the Asian country backs the Kara Agropole project and various projects to advance education in the Savanes region. 

Ayi Renaud Dossavi 

The Artificial Intelligence Week (AIW) is on. The event opened today and will close on June 4, 2024. It is hosted at the 2 Février Hotel in Lomé, Togo, under the high patronage of President Faure Gnassingbé.

Held under the theme "AI IN TOGO AND AFRICA: CURRENT STATE, OPPORTUNITIES, AND SOCIETAL CHALLENGES," the event promises a diverse program, including conferences led by experts, interactive workshops, technological demonstrations, and presentations by innovative companies in the field of AI.

It aims to raise awareness and educate the general public about AI and its current impacts. Professionals, academics, and tech enthusiasts will have the opportunity to exchange on the technology and better appropriate it, through practical exercises. 

This is also a networking event for participants.

Ayi Renaud Dossavi

Lomé will host the next Pan-African  Congress. The event will receive 20 young Africans and Afro-descendants and various delegations. The Togolese Ministry of Foreign Affairs recently unveiled the chosen 20. 

Following a call launched by the Ministry, they were picked ahead of preparations for the forum.  The youths come from different parts of Africa, its diaspora, and communities of ancestry (West Africa, Central Africa, North Africa, East Africa, Southern Africa, African diaspora, and Afro-descendant communities). 

Set to take place from October 29 to November 2, 2024, the 9th Pan-African Congress aims to foster dialogue, innovation, development, and cooperation in Africa. For the coming edition, the theme is "Revival of Pan-Africanism and the Role of Africa in Multilateral Institution Reform: Mobilizing Resources and Reinventing to Act".

See the list of the 20 selected youth here.

The Regulatory Authority for Electronic Communications and Posts (ARCEP) in Togo is launching a new satisfaction survey on June 3rd. The goal is to evaluate consumer perceptions of telecommunications operators, including mobile and fixed internet services.

The survey will cover the entire country, focusing on user satisfaction with services and customer relations. It will also identify reasons for dissatisfaction and areas for improvement.

Consumers will be notified through SMS and asked to participate in the evaluation. The aim is to gather a wide range of opinions and experiences, reflecting the diversity of telecommunications users in Togo.

This survey is part of a continuity of similar actions conducted by ARCEP in previous years to ensure the quality of telecommunications services in the country.

Previous surveys have led to specific recommendations for each operator in Togo or have paved the way for sanction procedures.

Togo has announced several projects as part of the Urban Water Security Improvement Project (PASH-MUT). The Ministry responsible for water recently launched an international call for tenders for various activities aimed at strengthening urban water security.

The announced works include improving the operational and financial performance of the Togolese Water Company (TdE). This will involve reducing non-revenue water, supported by partial rehabilitation of the distribution network. The works will also aim to increase the collection rate of unpaid bills, with the goal of ensuring the financial viability of the water sector.

The selected company will be required to implement innovative and modern procedures, ensuring knowledge transfer, to enable the Togolese Water Company to sustainably reduce the level of non-revenue water to an economically acceptable threshold.

Submissions for this call for tenders are open until July 24th. The PASH-MUT, launched in October 2023 with the support of the World Bank, aims to address challenges related to urban water security in Togo.

Esaïe Edoh