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India was Togo’s biggest buyer in Q3 2022. The Asian giant absorbed nearly a fifth (19.4%) of the West African country’s exports over that quarter, according to data from the Togolese Institute of Statistics, Economic and Demographic Studies (INSEED).
Togo exported 161,050 tons of goods to India in the third quarter of 2022, with an estimated value of CFA27.38 billion.
Behind...
Togo, Chad, Liberia, and Sierra Leone will receive $311 million from the World Bank as part of the Regional Emergency Solar Power Intervention Project (RESPITE). The latter was approved on December 20, 2022, by the Bank’s fund for the poorest, the International Development Association (IDA).
The RESPITE aims mainly to “rapidly increase grid-connected renewable energy capacity and...
This year, Togo intends to borrow CFA557 billion from the regional money market to finance its annual budget (of about CFA2,000 billion).
This is less than the amount expected in the 2022 rectifying finance bill, knowingly CFA663 billion.
Also, data from the UMOA-securities agency indicates that Togo, last year, raised 473 billion from regional investors, thus 71% of its annual...
Togo’s new press code will come into force on January 7, 2023. It was adopted in 2020 but its implementation was delayed to give press actors enough time to adapt to the changes it brings.
These changes include, notably, the conditions to be recognized as a journalist in Togo, the creation of "press companies" instead of "organs" of the press, the decriminalization of press offenses, and the...
The Togolese government and its social partners (central trade unions and professional employers' organizations) recently agreed to raise the country’s minimum wage to CFA52,500 from CFA35,000 (since 2012).
Announced last Friday, the change came into effect on January 1, 2023.
In his end-of-year address to the Nation, President Faure Gnassingbé welcomed the change saying: "I would like...
A total of 24 new investment projects were approved in Togo in Q3 2022. Valued at CFA107.1 billion, according to the Ministry of Investment Promotion, these include 10 projects approved under the Free Zone regime and 14 under the Investment Code. All of them should generate 2,000 permanent local jobs.
Regarding investment sources, there are 14 foreign direct investment (FDI) projects,...
Togo received last Monday, another white rice shipment from Japan, the third this year, as part of the 2021 Kennedy Round (KR). This shipment (2,748 tons) is worth about CFA1.7 billion (350 million yen).
A delegation from the Togolese ministry of agriculture, led by Konlani Dindiogue, head of the ministry’s cabinet, received the shipment at the Autonomous Port of Lomé (PAL).
Under the...
For the third consecutive year, The Banker, a specialized magazine, ranked Ecobank Togo the Bank of the Year. It was revealed during the media’s annual Banks of the Year Awards.
This year, Ecobank was able to keep its crown in Togo by launching new bancassurance products and improving its customer care.
“Togo’s Bank of the Year award for 2022 goes to Ecobank, whose highlights...
The Minister, Secretary General of the Presidency of the Togolese Republic, Sandra Ablamba Johnson, received on December 23, 2022, in Abidjan, the "Special Prize for the development and promotion of private investment in Togo" and the "Women leadership Prize in Togo".
She received the awards during the 2022 Gala Dinner of the African Observatory for the Promotion of Good Governance.
In recent...
On the night of Dec 22-23, the Togolese Parliament adopted the budget for 2023. The bill, which was approved unanimously, totals CFA1,957.9 billion in revenue and expenditure. This is 4.4% more than 2022’s rectifying budget.
Defending the bill during its adoption, Sani Yaya, the minister of finance, talked about the current international context, which is “marked by the persistent effects of...
Coris Bank Togo (CBI-Togo) opened a new branch in Agoè Sogbossito (northwest of Lomé) yesterday, December 22.
According to Alassane Kaboré, MD, CBI-Togo, the recent opening falls under the lender’s strategy to become a reference in the country and help boost financial inclusion. The executive noted that more branches would be opened in the near future.
"No matter what,...
The National Employment Agency of Togo (ANPE) is working on a digital platform dedicated to employment. The platform, which is backed by the UNDP, will collect and make available to the general public and decision-makers data on the local labor market. The project was revealed to the press and the public on December 21, in Lomé.
“It is important for the government to keep track of the...
Rose Kayi Mivedor, Togo’s minister for the promotion of investment, had an official meeting with several Togolese embassies yesterday, December 22. Mivedor and her staff were looking to establish a collaboration framework with the embassies to attract more investments in Togo.
Around 30 embassies -including France, England, the U.S, Japan, and India’s- took part in the talks.
"You are...
On December 21, 2022, the council of ministers of Togo examined a draft bill that would help the country boost innovation, with a focus on the digital sector.
This draft bill emerges amidst efforts to modernize the Togolese economy and develop digital activities in the public and private sectors, for the good of people and businesses, reads the council’s minutes.
According to the...
Togo will soon have an agency specifically dedicated to ensuring the quality of higher education, the ANAQES. The government adopted a decree in this framework on December 21, 2022, during its Council of ministers.
According to the government, the agency’s main mission will be to coordinate the implementation of the Togolese quality assurance system in higher education and research." ...
In Togo, the public procurement regulator, ARCOP, met with the press and other concerned actors last Tuesday, December 20. On the occasion, the regulator unveiled its new legal framework.
“The ultimate goal is to achieve a better quality of investments, attract more investors in the country, and allow the country to record the best growth performances for the good of the people,” said...