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President Faure Faure Gnassingbé is currently in Abidjan. The leader is attending a summit dedicated to the 20th edition of the International Development Association (IDA20). which is being held today.
In all, around 20 African leaders and executives from the World Bank should regroup at the event. They will talk about the increase of IDA financing for African economies; to enable the...
Togo has officially joined the shareholding of the Africa Finance Corporation (AFC), two and a half years after becoming a member. This was disclosed on the institution’s website on July 13.
“AFC has been a critical development partner in supporting key sectors of our economy including power, transport and logistics. Becoming a shareholder in AFC is a natural next step to further...
From August 19 to 21, 2021, Lomé will host the first edition of the Togo Food Safety Week. This was disclosed by the MIFA S.A (Mécanisme Incitatif de Financement Agricole Fondé sur le Partage de Risques).
The event, themed “agro-entrepreneurship and the integration of the quality approach for a sustainable local consumption” will gather local production actors, including producers,...
"There are ways to transform the Togolese rural economy through a new integration dynamic, by leveraging energy and digitalization." Ibrahim Thiaw, Under-Secretary-General and Executive Secretary of the United Nations Convention to Combat Desertification said this last week, in Germany, while meeting with Togo’s PM, Victoire Dogbé.
Thiaw believes the transformation is a real opportunity...
Brazil, South Africa, India, the United Kingdom, Russia, and Portugal. Passengers flying to Togo from these countries will be systematically quarantined for 10 days.
This was announced on July 13 by Prof. Moustafa Mijiyawa, the Togolese Minister of Health and Public Hygiene, via a circular note.
The measure follows, according to the official, “reports of coronavirus variants with high...
This quarter, Togo’s public treasury aims to raise CFA110 billion on the WAMU securities market.
To this end, it will issue 10-year fungible bonds on July 23 and August 20. Lomé eyes a turnover of CFA50 billion for these two issues - CFA25 billion respectively.
To close the quarter, the country plans to undertake, on September 17, two simultaneous issues (of fungible...
ARISE Integrated Industrial Platforms (ARISE IIP) plans to develop, in Togo, a 390 MW PV solar plant, paired with a 200 MWh and a 161 kVA substation. To this end, it launched a call for tenders targeting companies specialized in large-scale solar projects.
In the long run, the projected plant will supply power to the Adetikope Industrial Platform (PIA) and companies that will settle there....
Togo produced nearly 153,000 tons of rice last year. The figure, revealed by the BCEAO, is up compared to the outputs recorded in 2019 and 2018, respectively 147,000 tons and 145,000 tons.
Though it keeps producing more over the years, the country is still far from being self-sufficient. Regarding imports, the US Department of Agriculture (USDA) estimated that Togo received 150,000 tons...
The National Food Security Agency of Togo (ANSAT) sold 887 tons of cereals over the past month.
This includes 874 tons of corn and 13 tons of sorghum. The 50kg-bag of the former was sold at CFA9,500 while the 50-kg bag of sorghum was sold at CFA10,500.
The supply helped lower market prices of corn - the bowl (2.5kg) is now sold at around CFA700 (against CFA750-800 previously) in...
For the second consecutive year, Togo is the country that exported the largest volume of organic soybeans to Europe. The West African nation, according to a report recently released by the EU Commission, sent 51,000 of the crop to the Schengen Area.
This is 20% more than the volume it exported to the same region in 2019, knowingly 42,300 t.
In the 2020 ranking, Togo came ahead...
Togo should disburse CFA199 billion between July and September 2021 to service its debt on the WAMU’s Public Securities Market (MTP).
The figure breaks into CFA163 billion for principal payments and CFA36 billion for interests.
Lomé, which paid back CFA4 billion on July 5, plans to pay, in all, CFA65 billion before the month ends. In August, it intends to pay CFA109 billion, and...
Togo raised CFA183 billion on the regional money market in Q2 2021. This is 11% more than what it expected - CFA165 billion.
The unexpected increase was driven by the 10-year maturity issue of fungible Treasury bonds Lomé completed on April 16.
For that issue, the country, which was seeking CFA15 billion, raised CFA87 billion and retained CFA59 billion (at an interest rate of...
The ministry of finance of Togo and the World Bank supposedly teamed up to give entrepreneurs subsidies totaling $61.4 billion. This information is false.
It was issued by ill-intended individuals on a fake Facebook page pretending to be the ministry’s. This page was reported to Facebook by the Togolese authorities, according to a tweet released on the ministry of finance’s...
Burkinabe construction mogul and owner of EBOMAF, Mahamadou Bonkoungou, has decided to enter Togo’s bank and finance industry. The businessman launched June 29, 2021, a financial firm called IB Holding.
Registered as a one-person limited company (OPC) at the Togolese Trade and Property Credit Office, the firm has a seed capital of CFA30 billion. IB Holding will “acquire stakes in the...
The Togolese government is on the brink of adopting a national strategy for financial inclusion. A seminar was held yesterday, July 7, to discuss this strategy.
The document will be a formal framework consolidating initiatives related to financial inclusion. Official sources said it aims to “tackle regional disparities in accessing financial services." "This," they added, "will help...
In Togo, the cost of the Covid test for those traveling by air was reduced from CFA40,000 (about $70) to CFA25,000 ($45). The decision was validated by the government on July 7 in a decree signed by the minister of health, Moustafa Mijiyawa, and the minister of finance, Sani Yaya.
“The subsidized price of the SARS-CoV2 diagnostic test is set at CFA25,000. Payment terms will be set...