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Gathered last Thursday, the council of ministers of Togo assessed and adopted a draft bill amending laws in favor of strengthening women’s rights in the country.
The Council, in line with its ambition to promote equal rights between women and men, approved the draft bill. The latter aims to “further strengthen the rights of women in the areas of marriage, maternity, work, protection against...
Togo raised CFA30 billion on the WAEMU market last Friday, July 8. The country issued recovery bonds with maturities of three and seven years.
In detail, CFA20 billion was retained on the five-year bond and the remaining CFA10 billion on the 10-year bonds.
According to the WAMU securities agency, regional investors mobilized more than CFA87 billion for this operation. This corresponds to...
As part of its contribution to Togo’s recovery from Covid-19, Orabank reiterated its ambition to support the country’s agricultural sector and financial inclusion.
Guy Martial Awona, MD of Orabank Togo, disclosed this ambition during a meeting with PM Victoire Tomegah-Dogbe, held on July 5 in Lomé.
“We discussed several issues, mainly financing the economy in the areas of...
Togolese government supplies 82,000 t of fertilizer to farmers for the ongoing agricultural campaign
For the 2022-2023 agricultural campaign, the government of Togo provided 82,000 t of fertilizer to farmers across the country. This is about 7% more than the 76,000 t initially announced.
In detail, the supplies include 43,000 t of NPK and 39,000 t of urea. They add to 3,000 t of certified seeds that were distributed to various regions at a subsidized price of CFA18,000 (for a bag of...
The National Federation of Cotton Farmers of Togo (FNGPC) increased its shareholding in the New Cotton Company of Togo (NSCT). From CFA800 million, the Federation’s stake now stands at CFA6 billion, which represents nearly 25% of the firm’s total shareholding.
The news was disclosed at the FNGPC’s ordinary general meeting, held last week in Lomé. On the same occasion, financial and budget...
Togo now has a national agency for the development of micro, small, and medium enterprises (MSMEs). The related decree was issued on July 7, 2022, during the council of ministers.
The new agency aims to centralize and steer all SME support initiatives in a “coherent and structural way.”
“Its launch will help better control and monitor all financing actions aimed at fostering SMEs’...
The Togolese Ministry of Housing and Urban Planning introduced a standard contract for residential leases and rentals, which is aimed at harmonizing the rent caution and guarantee fees across the country. The move aligns with the new housing contract regulation in place in the Grand Lomé region.
The new contract was presented and adopted on July 5, 2022, during a meeting organized by the...
Over the past year, the Togolese State received CFA14.7 billion in dividends from the companies it owns fully. That is 22.6% less than it did in 2020, according to the 2023-2025 Multi-year Budgetary and Economic Programming Document (DPBEP), which was examined by the parliament on June 30.
Thus, the decline started in 2019 continues. Indeed, dividends collected that year stood at CFA25.5...
The International Development Association, the World Bank’s financing arm, set aside $60 million for Togo to implement one of its projects: the Gulf of Guinea Northern Regions Social Cohesion project (COSO). This was recently disclosed by the Togolese government.
Togo is not the only country in the region that is covered by the project. It extends to Benin, Côte d’Ivoire, and...
Asky and Ethiopian Airlines want to open an aviation school in Lomé. The news was reported by several media, including Ecofin Agency, which quoted Ethiopian Airlines’s manager, Mesay Shiferaw.
The school will train pilots, aircraft maintenance technicians, and flight attendants who are much sought after in Africa.
According to the source, talks are already underway between the...
The Public Procurement Regulator of Togo (ARMP) is introducing public agents in charge of procurement to standards governing these contracts. It started a 10-day workshop to this end last Tuesday, July 5.
In detail, the workers will learn quality standards that are applicable in Togo. According to the ARMP, the standards cover the planning, provision, and execution of procurement.
The...
Togo inaugurated last Tuesday a risk-assessment cell in Lomé.
The cell will collect data on terrorist threats that other countries face. Then, resident experts will analyze this information towards taking adequate steps to eliminate or mitigate a given threat. "These data allow us to know the nature of the threats, which will help experts in Togo to propose better responses," said Akseli...
IB Bank Togo (former BTCI) and Togo’s National Council of Employers (CNP-Togo) inked last Friday a partnership agreement that will help local SMEs and SMIs readily secure financing. The agreement was signed by the bank’s MD, Nabil Tahari, and Laurent Tamegno, who heads the CNP.
“The goal is to review the offer provided to these types of clients,” said Tahari before adding that “IB Bank...
The World Food Program, WFP, greenlit Togo’s 2022-2026 food security strategy last month in Roma. The $17 million plan aims to help around 260,000 people who face food insecurity in the West African country. Also, it aligns with the ambitions falling under the government’s 2020-2025 roadmap.
Concretely, the WFP will provide food and cash to those facing multi-dimensional crises in...
The Togolese government will indemnify the families of soldiers killed during military operations carried out inside the country. The grief-stricken will get CFA10 million.
Both agreeing on the amount, the minister of economy, Sani Yaya, and the minister of security, General Yark Damehane, disclosed it in a joint decree.
According to the decree, the sum, “chargeable to the State...
Togo plans to digitize 75% of its administrative processes, via the dematerialization of 20 public services, by 2025. The country will spend no less than CFA8 billion on this massive project.
“When we speak of digitization, our goal is to make life easier for citizens and get them closer to the administration. As for the administration, this digitization will make it more efficient....