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On November 5, the Togolese parliament approved the country’s adhesion to the Asian Infrastructure Investment Bank (AIIB) and the Africa Finance Corporation (AFC).
Togo will leverage the two institutions’ support to “conceive, finance, and undertake infrastructure projects that will help our country grow,” declared Sani Yaya, Minister of Finance and Economy.
Founded by China, the...
In 2019, Togo’s formal banking penetration rate stood at 25.1%, against 26.6% the year before. This means the country was, for the second consecutive year, WAEMU’s best performer in terms of adults with an account in banks, post offices, national saving funds, or the treasury.
Last year, right after Togo were Benin (24.8%), Burkina Faso (23.2%), and Guinea Bissau (20.3%). At the far...
In the past four years, the Togolese insurance market recorded a 25% increase in generated revenues. From CFA48 billion in 2015, they rose to CFA60 billion (after standing at CFA58 billion two years before).
Considering that very few people are insured in Togo (20%-30% of the population according to the national insurance office), there is still much room for improvement in the...
Due to the resurgence of road accidents in the country, Togolese authorities plan to draw a national policy for road safety.
This was disclosed on November 4 by the Minister of road, air and railway transport, Affoh Atcha-Dedji, in a ministers’ council.
“The road safety policy will mainly integrate an approach focused on the following: management, infrastructure, vehicles...
In the Greater Lomé region, the main outbreak center of the pandemic in Togo, authorities will fight the virus in a more decentralized manner. According to the national coordination in charge of the Covid-19 response (CNGR), this will help deal with the pandemic swiftly and rapidly.
Starting from November 10, a deconcentration plan will be launched by deploying a rapid intervention team...
More than 75% of the funds disbursed by the Banque Ouest Africaine de Développement (BOAD) go into road projects, access to energy, and rural development.
According to Serge Ekué, the new president of the bank dedicated to the member states of the West African Economic and Monetary Union (WAEMU), this is due to the “importance of these sectors on economic growth and social...
The national social security fund (CNSS) has resumed the normal collection of social contributions since last Monday. The CNSS released a statement to disclose the information.
The institution had enacted in August 2020, exceptional measures such as suspending the calculation of surcharges for late payments of social contribution from April to July 2020, or the remission of surcharges for the...
The Togolese Minister of the digital economy and digital transformation, Cina Lawson, will be a keynote speaker at the Africa Fintech Summit which will take place next week. Lawson will give a keynote address on the second day of the three-day virtual event (November 9, 10, and 12).
The summit will gather many actors from Africa and the world who will discuss financing technologies and...
Etsri Homevor is the new director of the cabinet of the Togolese Prime Minister’s office.
He officially took over from his predecessor, Pré Simféitchéou, on November 2, 2020.
Before his recent appointment, Homevor was the secretary-general of the ministry of planning.
Thierry Awesso is the new president of Nioto, the Togolese subsidiary of Geocoton, and one of the biggest factories located in the country’s free trade area.
Awesso, who until now was Nioto’s managing director, was appointed president by the board of Geocoton on October 23, 2020. This was during a board meeting held in Paris.
One of the main figures of the Togolese economy and...
Lomé-based pan-African banking conglomerate Ecobank is one of the winners of 2020 Speak Up Africa Awards. Awarded by Speak Up Africa, an advocacy and policy action tank, the prize celebrates “individuals and organizations that demonstrate exemplary leadership and bring a positive impact through their work and initiatives.”
Ecobank received the award for its commitment to fighting malaria....
In Togo, Maison Junior plans to train 15 young Togolese in audiovisual writing. In this framework, the association which provides such training in many African countries has partnered with Yobo Studios.
The two partners have launched a call for applications to give a 10-month training on writing for animated series, fiction, and TV magazines.
The fifteen young Togolese who will be...
The National Agency for the Promotion and Guarantee of Financing to SME and SMIs (ANPGF), the Artisans Savings and Loans Cooperative (CECA), and Togo’s General Society of Windmills (SGMT) sealed last week a partnership to launch a credit line for bread makers in Togo.
With this facility, bakers will be able to get loans at favorable rates, enabling them to purchase modern equipment and...
Due to a Covid-19 outbreak, the West Africa Cement plant has shut down for two weeks.
“On October 30, 2020, the national coordinator in charge of the response against Covid-19 informed me about an outbreak at the WACEM, a company located in the free trade zone,” reads an official note from the minister of trade and industry.
The closure is to prevent the virus from spreading...
So far this year, the Togolese digital payment Semoa has handled CFA1 billion worth of transactions for its clients. This is very encouraging according to the fintech with greater ambitions.
“With one billion CFA worth of transactions recorded in 2020, via big banks in the country, a new milestone has been reached,” sources at the startup indicated.
Launched by Edem Adjamagbo,...
The national health insurance institute (INAM) will spend more than CFA686 million to acquire a system to produce Secure cards for its clients.
The move is driven by INAM's desire to provide better services to its customers and tackle fraud more efficiently.
The system will be delivered by Suris and Help, two French companies selected following a tender launched in June 2020. Two...