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In 2019, the World Bank and the European Union (EU) provided the most donations for the national budget, according to recent statistics.
Overall, donations for budget-related programs and projects amounted to CFA122 billion last year, up by 15% against the year before. In detail, CFA62 billion (against CFA20 billion expected) was allocated to programs while 60 billion was disbursed for...
The new government (formed about a week ago) started its first seminar today October 12, 2020, to study current issues and priorities.
During the seminar (Presided by the Head of State Faure Essozimna Gnassingbé), the government’s 2020-2025 roadmap will be thoroughly presented. This roadmap is elaborated around three axes: the reinforcement of social inclusion and harmony, peace...
Canadian companies Rainmaker Worldwide -specialized in clean water technologies- and Carlaw Group, a private equity firm active in Africa, announced a joint venture to provide clean water in Togo and three other African countries.
Under the deal, Rainmaker will deploy its Air-to-Water technology, which runs with a combination of atmospheric humidity, heat, and airflow. The joint venture will...
The High Authority for the Prevention and Fight against Corruption and Related Offenses (Haplucia) will be restructured in line with challenges facing the new Togolese government. This was disclosed by Christian Trimua (Minister of Human Rights, Citizenship Training and Relations with the Institutions of the Republic, and spokesman for the Government).
According to Trimua, this restructuration...
About 15,000 transit passengers have been registered at the airport of Lomé since it reopened two months ago.
The figure was released by the National Agency of Civil Aviation (ANAC Togo) which is taking stock of its activities after the resumption.
"We are satisfied," said Colonel Gnama Latta, head of the agency, noting that 90% of planned activities have been completed, per the...
Togolese authorities are planning talks to potentially reevaluate the interprofessional guaranteed minimum wage (SMIG).
The amount which currently ranges between CFA35,000 and CFA38,000 could increase after the talks.
This was reported by République Togolaise citing the minister in charge of relations with public institutions, Christian Trimua.
According to Trimua, the projected...
With a market share of 12.8%, the Lomé-based pan-African group Ecobank Transnational Incorporated was the leading bank in the West African Economic and Monetary Union (WAEMU) in 2019.
According to Agence EcoFin which reported the news, the holding came ahead of French group Société Générale (10.1% of the market), and Moroccan Bank of Africa and Atlantic Business International (9.7%...
Over the past quarter, 3,464 new businesses have been registered in Togo, according to statistics of the Centre de Formalités des Entreprises (CFE).
Respectively, 1,201 were created in July, 1,181 in August, and 1,082 in September. Overall, compared to the same quarter in 2019, 500 more businesses were registered this year.
Togolese citizens established 75% of businesses...
Besides boosting social inclusion and human capital, the priorities of the new government are to develop logistics and agriculture. Victoria Dogbé, Togo’s PM, mentioned this last Friday while revealing her general policy to the parliament.
Agriculture
To tackle the challenges this sector faces, the new government should pursue the same path as the former and buttress key axes. Four...
Togo gained 18 places in the 2020 economic freedom index published by the Heritage Foundation. The country is the 140th freest country (over 180 countries worldwide) and 29th out of 51 countries in Africa.
Despite still being considered as mostly unfree by the Foundation, the economic freedom score of Togo increased by 3.8 points to stand at 54.1 points.
The index covers 12...
Alongside 27 other countries, Togo will benefit from a second six-month tranche debt relief service of the International Monetary Fund (IMF).
The new tranche was approved on Oct. 2 by the IMF’s board, through the institution’s Catastrophe Containment and Relief Trust (CCRT). It is estimated at $227 million (grants).
From Oct.14 to 13 April 2021, the funds will help the...
Togo Invest (TI) will take part in the large-scale mining (a 20-year renewable license) of the Ledjoblibo clay deposit in the Dankpen district (about 90 km from Kara, which is 420 km north of Lomé).
The State holding was urged to join the project by the minister of mines who believes this will improve its governance.
According to studies conducted so far, the deposit is of...
Fourteen businesses, owned by women and youths, will compete to land a deal with the General Directorate of Public Works (DGTP).
The contract covers technical studies for the rehabilitation or construction of some offices of the regional directorates of public works, sectors, and the rural roads directorate.
The firm selected will also take care of preparing the tender document for the works in...
Togo’s external debt is mostly owed to commercial banks, Asian banks notably. The information is in a report recently published by the ministry of economy and finance.
The document, which covers the first half of 2020, indicates that the Eximbank of China, Eximbank of India, MUFG Bank (Japan), and Société Générale hold more than 50% of the West African nation’s external debt -...
Within the next two years, the government plans to build at least 20,000 social housing units.
The project, which is part of Togo’s urbanization plan (and the national development plan), was recalled by the new minister of housing, Koffi Tsolenyanu, on World Habitat Day.
The theme of the event for this year is “Housing for all and improving the urban environment.”
On...
Edem Kokou Tengue is the new Minister of Maritime Economy, Fisheries and Coastal Protection in Togo.
The announcement was made on Thursday by the Secretary-General of the Presidency, Sandra Johnson. Edem Tengue, who was until his appointment the Managing Director of the Togolese branch of Danish integrated shipping company Maersk, joins a new government focused on the national development plan...