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Invoice factoring could soon become more accessible to businesses in Togo. Indeed, the country’s council of ministers adopted last Monday a uniform draft bill covering this activity in the West African Monetary Union member states.
Factoring is a transaction whereby businesses fund their cash flow by transferring their receivables to a third party (the factor). The Togolese government...
Last Monday, Feb 7, Togo's Council of Ministers adopted a draft bill aimed at accelerating the digitization of visa and resident permit applications and issuance. The meeting was held in Kara (412 km north, from Lomé).
"The main purpose of this draft bill is to update the general rules applicable to the entry, stay, movement, and settlement of foreigners on Togolese territory. In...
The government recently encouraged UN bodies in Togo to increase their actions, those that will greatly impact the people and accelerate inclusive development. In this framework, following a meeting to review the UN’s activities in the country, representatives from both sides picked some key areas where these actions can be carried out. They include health, education, and...
Between its launch in 2016 and the end of December 2021, the Support Project for Youth Employability and Integration in Growth Sectors (PAEIJ-SP), distributed CFA17.2 billion to young Togolese agripreneurs, according to data provided by this program.
The sum is twice the CFA7.5 billion the institution planned to share over the period under review. It was raised through 15 financial partner...
It’s been over 10 years since the Economic and Social Council (ESC) was approved by the Togolese Parliament. At last, the country plans to launch it this year.
In this framework, the government allocated a budget of CFA500 million (payment credit) to the body which will advise public institutions, especially the Presidency and the Parliament, and take part in the elaboration of economic...
In its latest report, venture capitalist Partech estimated that the Togolese startup ecosystem raised about $6 million in 2021, mostly through equity investments. The figure is up by 57% compared to that recorded in 2020 – $3.8 million.
Togo ranked 16th in Africa, among countries whose startups raised the most funds last year. At the top of the ranking are Nigeria ($1.8 billion),...
Togo’s Treasury successfully closed, last Friday, its latest fundraising on the UMOA-securities. The country secured CFA35 billion by issuing fungible treasury bonds, with a 10-year maturity period and an interest rate of 5.90%.
This was Lomé’s third issue on the regional money market this year and according to the UMOA-Titres Agency, 22 regional investors subscribed, raising CFA69 billion,...
Togo’s government plans to pump around CFA150 billion into its education system this year. The figure was set in the 2022 Finance Act.
The amount is almost the same as that set in 2021 (CFA154 billion) before it was scaled down (to CFA137 billion) by the rectifying bill adopted at the end of the year. Most of the funds will be shared among the four departments of the ministry of...
Last year, the Togolese state, its partners, and the private sector mobilized about CFA18.8 billion for the Ministry of Grassroots Development. The figure was recently disclosed by Myriam Dossou-D’almeida, who heads this ministry, during its last annual performance review.
Compared to 2020, the funds were down by 24.81%, mainly because a number of projects and programs were halted or...
As in recent years, Togo will rely heavily on the regional financial market to fund a large part of its 2022 budget. The country will mainly rely on long-dated bonds, based on a successful issue of a 15-year bond at the end of 2021.
While the amount set in Finance Act for the issues it plans to carry out on the regional money market in 2022 stands at CFA533 billion, the Togolese treasury will...
Already active in Senegal, the Thione Niang Group now eyes Togo’s agricultural industry, among others. On Feb 4, 2022, Thione Niang, executive director of the company, met with Victoire Tomégah-Dogbé, the Togolese Prime Minister, to discuss the matter.
Specializing in agriculture and digital services, the group plans to expand to Togo, leveraging new technologies. "The specificity is that we...
African leaders, including Togo’s President, Faure Gnassingbe, are working to give a new impulse to education on the continent. This was disclosed on Feb 1, 2022, during the 39th Session of the NEPAD Heads of State and Government Orientation Committee (HSGOC) held via videoconference.
After watching a presentation on the "link between education and development: a paradigm shift," the leaders...
The Board of Directors of the Bank of Africa (BOA) will host a meeting in Lomé this week, on the 6th and 7th. The news was announced Tuesday, Feb 1, by the group’s MD, Youssef Ibrahim, during an audience with Togo’s Prime Minister, Victoire Tomégah-Dogbé,
Ibrahim told the PM that leaders from all 19 subsidiaries of BOA, including Togo’s, would attend the meeting. He said they...
The Togolese government is currently working on its 2023-2025 Public Investment Program (PIP). A workshop, chaired by Sandra Ablamba Johnson, Minister, Secretary-General of the Presidency of the Republic, was launched last Monday in Lomé in this framework.
The new program should align with reforms introduced by the public investment programming (in July 2021), and even more with the...
In Togo, nearly 95,000 pupils (94,712) received over 14 million hot meals in 2021, as part of the government’s school canteen program. The figure was recently reported in the annual performance review of the Ministry of Grassroots Development. The document adds that the meals were shared among 337 preschool and primary schools, which is 8% of these school categories in Togo.
Steered by the...
Togo will soon have a new local airline connecting its northern and southern regions. This was revealed on Jan 31, 2022, by Col. Dokisime Gnama Latta (photo), who currently heads the Société Aéroportuaire Lomé Tokoin (SALT). The announcement was made at the 35th-anniversary celebration of the SALT, which manages Lomé’s airport.
"There is a project, for a company - whose name I do not yet...