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In 2017, all 23 companies active in Togo’s extractive industry generated around CFA13.2 billion for the State. 86% of the sum came from mines (around 75%) and quarries (12%) and were allocated to the national budget. The rest (around 14%) came from the exploitation of groundwaters (6.7%), gold sales (6.5%), and artisanal mining (which represented 0.1% of budget revenues.
The...
On November 30, 2020, Togo received the green light to ratify the Bangui agreement on the creation of an African Intellectual Property Organization (AIPO).
According to the national assembly, the document is “a legal tool that enables Togo to better protect inventions and creations, and to efficiently fight counterfeiting, especially that of pharmaceutical products.”
Meanwhile,...
Orabank Togo partnered with Miaplenou, a local startup, to launch an e-commerce service that enables users to make purchases with their banking card (Visa or MasterCard).
“The new service, designed for sellers who have a website, allows them to sell but also receive payments safely with Visa or MasterCard from customers,” affirmed Guy-Martial Awona, MD of Orabank...
Ecobank announced it will launch a program to finance and support female African entrepreneurs. The program baptized Ellever mainly aims to help the businesswomen, in all 33 countries where the Lomé-based group is present, boost their turnover through financial solutions and added-value services.
Ellever will also allow its beneficiaries to “secure loans at favorable interest rates as...
Classes at the Co-op development training institute of Barkoissi, devoted to husbandry, could begin in September 2021. This was announced by Togo’s PM, Victoire Tomégah-Dogbé, while she was visiting the site last week.
Construction works for the project are 40% complete according to the director-general of the institute, Lieutenant-colonel Napo Kpandja. Commenting on the progress,...
Last Friday, Togo’s public treasury retained CFA22 billion through the issuance of two bonds maturing respectively over 5 and 7 years.
Overall, subscriptions to the operations exceeded CFA59 billion, marking a surge in confidence of investors in the regional market.
The funds retained - in line with the norm forcing issuers to collect at most 110% of the initial target - will,...
The Threshold program was launched in Togo last Friday, following a meeting that gathered ministers, members of the Millennium Challenge Account cell (MCA-Togo), American officials and others.
For the program, which ultimately aims at reducing poverty and accelerating economic growth, Togo secured $35 million worth of donations. The threshold program will mainly focus on ICTs and Land...
Consulting firm BAGE has received the greenlight to technically assist project carriers selected during the previous Togo-EU economic forum (FETUE).
The firm was given approval by Minister Sandra Ablamba Johnson on Nov. 17, 2020, during a meeting held at the Togolese presidency, in the presence of the Cooperation chief of the EU delegation and BAGE’s Chief of...
Togocom, a subsidiary of Axian Group, has activated its 5G network in Togo. It thus makes Togo the first country in West Africa, and the third in Africa, to test the technology commercially.
The achievement was lauded by the operator's managing director in Togo, Paulin Alazard, who observed that the country "rose up to the challenge of launching 5G in one year only, as it was planned in the...
Moov and Togocel will again readjust their call rates and cancel the recent increases criticized by the telecom regulator, ARCEP.
In detail, both operators reduced their off-network tariffs by around 30%, following a recent warning by the regulator. The latter thus took note of the cessation of on-net, and off-net price differentiation practiced by the companies.
Now, there remains the...
CFAO Technology & Energy, a subsidiary of CFAO Group (Corporation For Africa & Overseas), wants to advance Togo’s energy transition in the construction sector.
On Nov. 26, 2020, the international company presented its new range of eco-friendly elevators to architects and other actors of the Togolese construction industry.
The elevator, named GeN2 Life Switch, can run on...
The West African Development Bank (BOAD) and KfW, the German development bank, are getting ready to launch a fund to promote digital transformation in West Africa. This was disclosed on the BOAD’s Twitter account.
The fund will finance projects to digitize administrative procedures and foster the digital economy across the WAEMU.
It should be recalled that the World Bank recently...
Togo’s various ministries will adopt the new program budgeting system adopted by the country. In this framework, they will all have a financial affairs division.
The decision was announced following the council of ministers held on November 25, 2020.
For the Togolese authorities, the adoption of the program budgeting system “requires a reorganization of the financial division of...
As part of measures to support the 2020-2021 academic year, the Togolese government will forego around CFA2 billion of registration fees for various exams. The news filtered from the council of ministers held on November 25, 2020. Overall, the education sector should benefit this year from over 3.5 billion worth of initiatives.
Another measure includes the mobilization of CFA1 million to supply...
Next year, seven billion CFA will be devoted to a new government program of free care for pregnant women in Togo. The program aims at reducing maternal and neonatal mortality, in line with a commitment made by President Faure Essozimna Gnassingbé.
This was disclosed in a statement issued by Mamissilé Akla Agba Assih, Minister delegate in charge of universal health care, during the...
Few days after cautioning Togocel for practicing unfair call rates, Togo’s telecom regulator -ARCEP- has opened a sanction procedure against the operator. This time, the regulator accused the operator of “grave inconveniences and malfunctions on its T-Money services, and a lack of communication with customers.”
It is stated under the terms of Togocel’s agreement that “in the...