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Despite the major pressure the pandemic has put on the country’s economy and finances, Lomé’s provisional budget for 2021 slightly differs from this year’s.
In detail, the country expects budget revenues to stand at CFA842.9 billion next year, down 2.7% compared to 2020. In 2022 and 2023, the authorities expect a better mobilization of internal and external revenues.
To meet...
Last week, Togo raised over CFA94 billion for its first issuance on the regional financial market this quarter. The amount is substantial given that the country was initially seeking CFA25 billion.
The operation was a simultaneous issue of fungible treasury bonds, with a maturity of five years and seven years respectively. The bonds with a lower maturity garnered over CFA56 billion and...
In Togo, covid-19 cases are concentrated in the capital, Lomé, and outbreaks inside the country are under control. This was revealed during the latest update session of the entity managing the response to the pandemic, the CNGR.
According to Col. Djibril Mohaman who heads the CNGR, most new cases are in Lomé, and no surge in cases was recently recorded.
In detail, the most affected part...
With the Ecowas’ help, Togo will adopt a strategy to promote the use of cooking gas. This aligns with Ecowas' regional strategy to improve the regulation of cooking gas usage, cut its prices, and reinforce its distribution system, among others.
The regional body initiated under its 2020 budget the process for the selection of a consultant to elaborate the document.
In the...
Michel Yaovi Galley is the new director-general of the telecommunications and posts regulatory authority, the ARCEP. The decree appointing him was released on October 15.
Before that, Yaovi Galley was the technical advisor for digital transition projects at the ministry of posts, digital economy, and technological innovations.
As director-general of the ARCEP, his mission consists...
Togo’s power utility, Compagnie Energie Electrique du Togo (CEET), is carrying out a promotional campaign in the Plateaux regions. Under the promotion, which will end on 30 March 2021, fees to get connected to the grid can be paid in installments.
In detail, the people of Agou, Ogou Anié, Est-Mono, and Haho will be able to get a prepaid meter (Lafia 2 fils 5 A) with an advance payment of...
The second edition of the FERIN fair, an event that is aimed at improving trade and investments in Togo, began yesterday. Due to the Covid-19, it is held online this year.
The theme of the fair is Man at the heart of economic and sustainable growth.
Organized by the Terreau Fertile Association, the two-day meeting will gather many panelists, notably the Togolese economist Kako...
Cofina, Compagnie Financière Africaine, has selected AG Partners to be its strategic communication advisor for its opening in Togo.
Cofina enters Togo with AG Partners! We have the pleasure to announce that AG Partners is the agency that won the bid to help Cofina launch its activities in Togo, the commercial leasing and finance firm declared.
Togo is the ninth market that Cofina...
After its growth forecasts for 2020 were hampered by the pandemic, Togo foresees a recovery in the next two years with a projected growth of 4.7% in 2021.
Farther ahead, Lomé hopes to see its real GDP grow by 5.8% growth in 2023, in the best-case scenario. Similarly, the inflation rate would shift from 1.7% next year to 2% in 2022 and 1.9% in 2023.
Budget resources slightly...
On Wednesday, Oct. 21, Serge Ekue, president of the Banque Ouest Africaine de Développement (BOAD), signed with the Development Bank of Austria, OeEB, a convention to inject €30 million into the WAEMU’s private sector. The signing took place in Vienna, the Austrian capital.
The same day this credit line was secured, the OPEC Fund for International Development announced that it...
In Togo, the number of mobile money users rose from 83,000 in 2013 to 1.9 million in 2017 and 2.3 million in 2018 (nearly 30% of the Togolese population). This represents an annual growth of 95% over the period considered (2013-2018), with a peak of 21% over the last two years (2017-2018).
This was disclosed by the country’s Posts and Telecommunications Regulator (ART&P), in a report...
Last Tuesday, the 2020-2021 cocoa and coffee marketing campaign was launched in Kpalimé (120 km from Lomé) in the presence of the ministers of agriculture and trade.
The two sectors were hard hit by the Covid-19 crisis, coffee especially. Indeed, Togolese coffee exports fell by 42%, from 4,500 t in 2018-2019 to 2,600 t in 2019-2020.
“This health crisis hit the coffee economy...
After recently becoming partners, Togo Invest and UNDP Togo are working to submit a $50 million project to the Green Climate Fund.
In effect, UNDP Togo will include Togo Invest in the project since it was already elaborating on it. “We are working with Togo Invest and other institutions to develop this project,” the UN body said.
The project, it should be emphasized, aligns with...
With 9 other African presidents, Togo’s leader Faure Gnassingbé called for a greater financial mobilization for projects carried out by the International Fund for Agricultural Development (IFAD).
In a co-signed letter, the heads of state made the call to make rural communities more dynamic and subsequently protect them against poverty and famine.
“Now more than ever, it is crucial to...
In July 2020, the overall performance of commercial services in Togo grew by 8.8%, driven by sales and business operations.
Right behind the country are Ivory Coast (+2.9%) and Guinea (+0.5%), according to data by the Banque centrale des Etats de l’Afrique de l’Ouest (BCEAO). The three countries, over the period concerned, were the only ones to have recorded a positive...
Yesterday, Togo’s minister of foreign affairs, Robert Dussey, went to Mali for an official visit. There, he met the country’s top officials, including the new transitional president, Bah N’daw.
During his visit, the Togolese emissary reiterated the congratulations of Togo (and of the Togolese president, Faure Gnassingbé) to the new Malian leader. He also assured Togo’s...