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This year, the UMOA-securities Agency plans to issue recovery bonds which would help WAEMU States raise up to 3,768 billion CFA.
The securities will be issued in partnership with the Central Bank of West African States, to enable eligible beneficiaries to recover from the pandemic.
These countries should be able to subscribe to the bonds at a special Recovery window, UMOA-Titres said.
The...
Last week, Myriam Dossou-d’Almeida, Minister of Grassroots Development, took part in a webinar on the expansion of social protection for informal workers in Togo. The webinar was organized by UNDP Africa and the International Labor Office (ILO).
The goal of the webinar is to make Togo a model for other African countries.
“I talked about social protection and the informal sector in African...
An agropastoral university is going to be built in Kpalimé, a town located in the Kloto prefecture 120 km from Lomé.
This project directly aligns with the Government’s 2020-2025 roadmap according to Majesté Ihou Wateba, Minister for Higher Education and Research who visited the site.
The university will mainly produce agronomists, in situation where the country aims to tap into its...
The National Agency for the Promotion and Guarantee of Financing for SMEs and SMIs (ANPGF) and African Lease Togo have teamed up to help local businesses (SMEs and SMIs notably) get the equipment they need.
Interviewed by Togo First about the initiative, Toussaint Sossou, MD of African Lease Togo, declared that "the ANPGF will provide the financial lessor a credit line to finance equipment...
Togo’s Ministry of Energy and Mines launched a call for proposals targeting local businesses interested in extending medium and low tension power distribution systems in the coastal region and some urban zones. Overall, 32 firms led by young Togolese male and female entrepreneurs will be selected for the project.
This project aligns with the authorities’ ambition to provide its whole...
In Togo, the Ministry of Health recently issued an official statement asking its regional and prefectural officers to start the count of the first targets of its incoming Covid-19 vaccination campaign.
According to the Minister of Health, Prof. Moustafa Mijiyawa, "the first phase of the vaccination will be done with AstraZeneca and it will take place in the coming weeks". The vaccine was...
Regus, the workspace provider which forms part of Swiss-based IWG Holding, announced it would soon open a franchise in Lomé, Togo’s capital.
This, it intends to do in partnership with Confortis International. The move aims to provide a "wide range of workspaces including coworking options, private offices, meeting rooms, or business lounges".
Regus will leverage development facilities and...
The capital of Cofina Togo, the subsidiary of the eponymous meso-finance Ivorian financial group is estimated at Five hundred million CFA
Cofina Togo was to be headed by Kindoh Rodrigue Kouadio, but since he resigned it is finally Charles-Eric Akoumian Moulod who will occupy this position. The substitute was unanimously picked by the firm’s top management.
In Togo, Cofina’s main rival will...
Throughout last year, Venture Capital Funds invested $3.8 million (CFA2.05 billion in Togo’s digital and tech startups. This was disclosed in a recent report by Partech, a transatlantic venture capital fund specialized in ICTs.
Across Africa, tech startups raised about $1.429 billion in 2020, against $2.02 billion in 2019 (-29%) according to the report. The decrease was...
In Binah, a district located in the northern part of Togo, a rice mill generated CFA432 million over the past two years. The figure was published by the Shared-risk Agricultural Financing Incentive Mechanism (MIFA) which supported the company over the period concerned.
The mill, headed by Aristide Agbossoumonde, produces and processes paddy rice, and sells it under the brand Riz Délice....
Following a tender, four companies - one Tunisian and three locals, have been contracted for the water network displacement project along the 75km-long Sokodé-Bassar road. The beneficiaries will cash in around CFA390 million for their services.
In detail, the Tunisian Soroubat will carry out construction works falling under the project while the other three, BTP CGCO, IMS & A, and...
In the 2021-2022 agricultural campaign, CFA500 million will be dedicated to cattle production development zones (ZAPB). This was reported in the minutes of the council of ministers held on February 10, 2021, in Kara.
A ZAPB is an area where cattle from a given region are raised. It has natural assets and basic social infrastructure such as schools, dispensaries, veterinary clinics,...
For the 2021 calendar year, Togo reduced its legal interest rate to 4.2391%. This was disclosed during the meeting of the council of ministers that was convened on Feb. 10, in Pya (in the Kozah prefecture).
Last year, the rate was 4.5000%, the same as in many countries of the West African Economic and Monetary Union (WAEMU), according to data from the Central Bank of West African States...
Diwa Industries made an investment of CFA7.5 billion that should generate 180 permanent jobs in Togo.
The cooking gas company sells Sodigaz and Enora gas bottles in the country with an annual production capacity of 500,000 cylinders (and 1,200 cylinders per day for requalification). Through this project, Diwa Industries wishes to "position itself as a strategic actor in the African...
Steel Cube Togo announced it would soon create over 1,000 direct jobs, in line with the government's ambition to massively create jobs for the Togolese people. The Kara-based steel producer intends to double its initial projections (400 direct jobs and 800 indirect jobs).
The plant, which runs on 40,000 t of raw material per year, was recently visited by the minister of trade,...
Over the next few months, informal workers will benefit from an old age guarantee. This would be a major achievement considering that they don’t even have a social guarantee.
The government decided to expand this guarantee to informal workers (which was accessible to formal workers only) based on latest data from the International Labor Organization (ILO) which shows that more than three...