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In Togo, 10 new toll booths will be automated soon. This was announced by Societe Autonome de Financement de l’Entretien Routier (SAFER) which launched a tender in this framework.
The concerned toll booths are those of Sanguera, Vogan, Dzemenyi, Adeta Badou, Sotouboua, Alédjo, Défalé, Mango and Ponio. Just like the toll stations of Davié, (Zio prefecture) Vodougbé (Lacs), and...
Last Wednesday, the Council of Ministers adopted a draft law that gives magistrates of the Court of Audit a special status that takes into account their peers from regional courts.
The new law provides for annual assessment mechanisms that will enable the Court to comply with the best standards relative to the control of public finances and accounts. With it, the government wants to boost...
Togo’s economic growth rate at the end of 2020 was 1.8%. While the figure is way below the 5.5% forecasted at the beginning of the year, it stands above subsequent projections, respectively 1.3% and 0.7%, that took into account the Covid-19’s impact on the economy.
The actual growth rate was disclosed by Sani Yaya, minister of finance, on April 15 while he was presenting the...
South African group Novus Holdings, which specializes in industrial printing, plans to expand in Togo. In this framework, representatives from the firm met last Monday with the Togolese minister of trade and industry, Kodzo Adedze.
Present in 14 African countries, including Ghana and Nigeria, the Cape Town-based group wants to take advantage of the AfCFTA’s establishment to develop its...
A national strategy to promote local consumption to soon be submitted to the government for approval
Validated earlier this year by various actors of the public and private sectors, the national strategy for the promotion of local consumption will soon be submitted to the government for assessment and approval.
According to minutes from the latest council of ministers which contains the information, the strategy specifically aims to boost Togo’s goods and services supply, but also facilitate...
In Q2 2021, Togo plans to raise CFA165 billion in the regional market, according to the provisional bond issue program published on April 14 by the UMOA-Securities agency.
The funds, which will be mobilized mainly by issuing fungible treasury bonds, will help meet the country’s national budget needs.
On April 16, three fungible Treasury bonds will be issued, simultaneously....
Starting from June 30, 2021, heavy-duty vehicles that have their bodyworks modified and also increased the number of axles they have, without the required permissions, will no longer be allowed to transit the Togolese territory.
Those who fail to comply with this measure will be sanctioned according to law. The warning was issued in a joint statement signed by Gal Damehane Yark, minister of...
Last Tuesday in Lomé, Togo’s Prime Minister, Victoire Tomégah-Dogbé, commissioned the Higher Council for Youth Employment. The new entity should consolidate the government’s efforts to boost employment (for the youth especially) in the country. It is an initiative of the National Coalition for Youth Employment (CNEJ).
“The Higher Council for Youth Employment, which is under...
Together, Orabank and Ecobank claim slightly over 42% of the Togolese banking assets. This is according to the latest data published by the Central Bank of West African States, BCEAO (2019).
This puts the two lenders among WAMU’s banks with systemic importance, which means that if any of them were to go bankrupt, Togo could plunge into a major financial crisis. Besides Orabank and...
The Regional Fund for Mortgage Refinancing of the WAEMU (CRRH-UEMOA) increased its capital to CFA9.888 billion, from CFA9.688 billion.
To this end, the Lomé-based institution-issued 20,000 new shares having a nominal value of CFA10,000 each.
By increasing its capital, the CRRH-UEMOA hopes to have more leeway to make new investments or develop its mortgage funding segment....
Quite active in Africa, Aera Group, a French firm that delivers environmental certificates, is looking to reinforce its presence in West Africa, especially in the climate finance sector. In this framework, the president of the company, Fabrice Le Saché, met a few days ago with Togo’s leader, Faure Gnassingbe. He believes Togo is a great starting point in the region.
“Lomé is a major...
The Togolese minister for investment promotion, Rose Kayi Mivedor, signed on April 13, 2021, a memorandum of understanding (MoU) with Singapore Corporation Enterprise (SCE). The signing ceremony was virtual.
Under the MoU, Togo will receive SCE’s support to boost investment in key sectors like agribusiness, industrial zones’ development, infrastructure, and the digital industry....
Togo and France are working on a legal framework that will enable the former to easily leverage the expertise of its diaspora living in the latter. To this effect, an agreement was signed by President Faure Gnassingbé and the French minister of foreign affairs, Jean Yves le Drian, to initiate the "Talents en commun" (Common Talents) project. This was on the sidelines of the visit of the Togolese...
Few days after initiating the renewal of its aerodrome certificate, the Gnassingbe Eyadema International Airport (AIGE) was just issued its health accreditation by Airports Council International (ACI).
“We are proud to have received the Airport Health Accreditation of Airports Council International, ACI. This accreditation validates new travel procedures we put in place, to fight the...
Togo and the Singapore Cooperation Enterprise (SCE) are to sign today an economic and technical partnership agreement, under which the West African nation will benefit from Singapore’s experience to develop its economy.
According to the Togolese minister for investment promotion, Kayi Mivedor, the deal aligns with Lomé’s efforts to boost investments and improve business climate. It...
One of the global leaders of the road infrastructure market, Vinci, is looking to join the project to double the Lomé-Cinkassé road (National Road N°1) in Togo. The French firm will operate through its Togolese subsidiary Sogea-Satom.
Subsequent to a meeting with President Gnassingbé in France, Jean-Michel Guelaud, chairman of Sogean-Satom declared: “The Head of State asked us about...