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Ecobank and the African Union Development Agency (AUDA-NEPAD) have raised $2 million (about CFA1 billion) for the 100,000 MSMSEs Finance program launched in June 2020.
According to the statement announcing the mobilization, “a total sum of $2.0 million will be extended in the form of working capital to beneficiaries who meet the set criteria across the eight countries in this...
Works to expand Cimtogo’s cement plant are almost done. The Managing Director of HeidelbergCement’s subsidiary, Eric Goulignac, announced on May 18, 2021, that the plant’s first output would be produced in June 2021.
The announcement was made during a visit by the minister of investment promotion, Kayi Midevor, and the minister of trade, Kodjo Adedze.
The plant, which...
After the aid to African countries summit in Paris, Togo’s President, Faure Gnassingbé, will head to Brussels to meet with eminent figures such as the President of the European Council. The information was disclosed by the Togolese Presidency.
“At the invitation of the President of the European Council, H.E. Charles Michel, the President of the Togolese Republic will then go to...
As he lauded the organization of the Africa Finance Summit, Togolese President Faure Gnassingbé acted as the flagbearer of the African private sector, which is underrepresented, at the event in Paris.
“Sustainable financing of economies is an important issue and the issue of supporting the African private sector is even more important,” said Gnassingbé who put, since 2017, the improvement...
As part of its financing strategy to revive economies in the WAEMU post-covid, the ECOWAS Bank for Investment and Development (EBID) has raised about CFA50 billion on the WAEMU’s debt market.
The sum, part of a total of CFA240 billion, is to finance various projects in 7 of the WAEMU States. So far, 19 eligible projects were preselected. One of them is Togo’s Agricultural Development...
Moov Africa Togo will appear in a public hearing before the Telecommunication and Posts Regulatory Authority (ARCEP) this Tuesday 18 May 2021.
The telecom operator will respond to a “failure to meet the obligation of permanence, continuity and availability of its services, in accordance with its specifications.”
The case comes after service interruptions in several localities in Togo,...
In Togo, the National Harmonized Index of Consumer Prices (INHPC) stood at 109.7 in April 2021. This is an increase of 2.7% compared to March, according to data compiled by the National Institute of Statistics, Economic Studies, and Demography (Inseed).
The rise in inflation rate was mainly driven by higher prices of food products and non-alcoholic drinks- which grew 7.7% - and a...
From CFA516.3 billion in 2015, tax earnings in Togo surged 21.29% to 626.2 billion in 2019. The increase was driven by the Tax Governance Support Project (PAGFI), indicates a report of the African Development Bank (AfDB), the project’s main financial backer.
The period corresponds to the first years of operation of the PAGFI. The project’s goal is to sustainably increase Togo’s...
The EU delegation in Togo plans to financially back projects and programs under the government’s 2020-2025 roadmap.
Joaquín Tasso Vilallonga, EU ambassador to Togo, in an interview with Focus Infos, declared: “the financial instrument (formerly European Fund for Development) will be replaced with a new budget instrument and a plan for the coming years that will integrate the strategic...
The creation of the A new ROAD (A new Round-Table On African Debts) think tank comes at the right time, says Sanda Ablamba Johnson, Minister-Secretary General of the Togolese Presidency, and also one of the founding members of the group of experts advocating for the financing of African economies at fair conditions.
The ceremony to launch the think tank which aims to dedramatize the risk induced...
Timeless Capital Technology (TCT), the fintech of former Togolese international Donaldson Sackey, has signed a partnership with South African crypto-currency platform Xago.
This new partnership, coupled with the recent commitment of a new investor, is a milestone in the startup's growth. Xago will facilitate and accelerate the spread of the Timeless Capital Coin, offering a solution...
On May 12, 2021, Togolese authorities approved the possibility to set up ad hoc expropriation commissions to support the Expropriation Committee created to manage expropriations for public use.
During the recent council of ministers held Wednesday, the government amended and completed the decree related to the organization and operation of the Expropriation Commission. The latter was...
To revive its economy post-Covid, Togo is proceeding again to an issue of fungible treasury bonds that will close on May 21, 2021. The country seeks CFA20 billion via the operation.
In detail, according to the UMOA-securities agency, each of the securities issued has a nominal value of CFA10,000. The proceeds raised from businesses and individuals will help “cover financing needs of the...
The Global Environment Facility Small Grants Program (SGP) launched a call for projects to boost environmental initiatives in Togo. The call, which will close on June 30, 2021, is focused on innovative projects aiming at, among others, increasing forest coverage, identifying, designing, and disseminating appropriate agricultural production technologies and techniques.
Additionally, the projects...
Morocco announced it will increase the number of scholarships it grants to Togolese students. The information was relayed on May 10, by Togo’s minister of foreign affairs, Robert Dussey, following a videoconference with his Moroccan counterpart, Nasser Bourita.
In effect, the northern African country plans to grant over 100 scholarships to Togolese students yearly, up from 70 now....
Every mobile user living in Togo is to have no more than 3 active SIM cards per operator henceforth. This was decided in a decree dated 29 April 2021 and signed by the Minister of Digital Economy and Transformation, Cina Lawson.
According to a press release issued by the Autorité de Régulation des Communications Électroniques et des Postes (ARCEP) on 10 May, which was consulted by Togo First,...