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“This is a bipartite agreement between our group Sanlam and the NSIA group,” commented Simon Pierre Gouem, MD Sanlam Togo, after the group sold some of its insurance units to the Ivorian NSIA.
“Sanlam sold its life insurance units in Togo and Gabon, its non-life units in Congo and Guinea to the NSIA group. At the same time it acquired NSIA’s life and non-life units in...
The African Solidarity Fund (ASF) will help COFINA -an Ivorian meso-finance group- raise CFA5 billion for its expansion in West Africa, and Togo especially.
The two signed a guarantee agreement in this framework on Sept. 22. In line with the agreement, the funds will be raised by COFINA’s holding, Compagnie Transnationale d’Investissement (CTI), from Sunu Participations Holding...
Société Générale de Micro et Méso finance or Sogemef said it has loaned over CFA15 billion to its customers in Togo, between 2017 and now.
The lender, which focuses on small businesses (SMEs, SMIs, TPMEs, TPMIs) emphasize that the funds went to sectors like agriculture, crafts, trade, hospitality, tourism, and construction. It also offered "more flexible guarantees as well as adapted...
Only 6% of companies registered in Togo earn more than CFA500 million. However, they account for 88% of the total turnover declared in the country.
The figures were disclosed by the Chamber of Commerce and Industry of Togo (CCIT) on Sept. 21. These are the preliminary results of a study the Chamber conducted, with the support of INSEED - the national statistics institute.
Most of the companies...
The Togolese government launched a call for applications to recruit an internal auditor to assess the West Africa Coastal Areas Resilience Investment Project (WACA ResIP) which is being implemented in the country.
Auditors interested have until October 1 to submit their offer. The winning applicant will verify that procedures related to general administration, program management,...
The committee in charge of "Basic Health Services of Quality for Universal Health Coverage in Togo” adopted yesterday a work plan to initiate the scheme. The document was adopted during the second session of the committee; the meeting was chaired by Togo’s PM, Victoire Tomegah Dogbe. The plan covers the period from July 2021 to December 2022.
Conceived by the government and financed by...
NSIA - the Ivorian Insurer - has acquired four Sanlam subsidiaries, including its Life Insurance unit in Togo. The three others are Sanlam's Life Insurance unit in Gabon, Non-Life Insurance in Congo, and Non-Life in Guinea, a statement read.
“For 26 years, the NSIA Group has been undertaking a controlled development strategy for its activities. This has enabled us to establish ourselves in...
Togo shares its post-covid recovery strategy during a forum that regrouped least developed countries
Togo presented its post-Covid-19 recovery strategy to the international actors of the LDC (Least Developed Countries) Group, during a ministerial meeting last weekend. The country was represented by Sandra Ablamba Johnson, Minister Secretary-General of the Togolese Presidency.
“The Covid-19 crisis is unprecedented in both scope and suddenness. Estimates show it cut the GDP by 4 percentage...
So far into the month, Togolese financial institutions asked and obtained CFA610 billion from the Central Bank of West African States (BCEAO).
In detail, the entities secured CFA425 billion on Sept. 6. The funds were collected separately - CFA243 billion at the monthly window and CFA182 billion (for the interbank market) at the weekly window.
The remaining CFA185 billion were raised on...
Togolese businesses that want to attend World Expo 2020 in Dubaï have until October 31 to register. The deadline was recalled today by the country’s ministry of trade.
According to the ministry, participating in the event will enable Togo to “show the world the Togolese innovation and genius,” by showcasing some local inventions and products.
The event will not host only exhibitions....
The Development Bank of Mali (BDM) was recently introduced to the National Council of Employers of Togo (CNP) by Guindo Amidou, the lender’s MD. BDM-Togo is registered at the Centre de Formalités des Entreprises (CFE).
While the new bank will, in general, conduct all financial, commercial, industrial, and securities operations, its MD talked with Coami Sedolo Tamegnon, chairman of...
Within the framework of the Kennedy Round food aid program and the 2021 economic and social development project, Japan recently donated 500 million Yen (about CFA2.5 billion) to Togo.
The grant agreement was signed on Sept. 16, between Japan’s ambassador to Togo, Hideaki Kuramitsu, and Togolese ministers of agriculture and health, Antoine Lékpa Ggbegbeni and Moustafa Mijiyawa,...
Togo received 101,760 new doses of Astrazeneca from Germany, via the Covax initiative. The donation falls under the country’s Covid-19 vaccination campaign.
According to Prof. Moustafa Mijiyawa, Min. Health, the provision “will further strengthen Togo’s vaccination system,” at a time when “more people are getting vaccinated against Covid-19.” Last Thursday alone, 40,608 people got...
Togo just raised CFA66 billion on the regional financial market through two simultaneous bond issues. Investors in the region pumped around CFA153 billion in the issues, from which Lomé was expecting 60 billion.
The issues recorded a 255% subscription rate; a performance that reflects investors’ confidence in Togolese securities, and a market afloat. The proceeds should finance the...
Togolese SMEs, SMIs, and artisans will soon get part of the public procurements issued by the State. This is one of many reforms found in the public procurement draft bill examined and passed last Wednesday during the council of ministers.
Another reform is the reduction of the time needed to provide public contracts from 180 to 90 days.
The new law should soon be submitted to the...
The French Development Agency (AFD) has spent, so far, CFA130 billion to support projects in Togo. The information was revealed last Tuesday by the Presidency during the first review of the institution’s portfolio.
“The total amount that the AFD invested in Togo is CFA130 billion, including CFA49 billion in subsidies. The portfolio covers ten projects in agriculture, education, professional...