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The government’s financial support to private teachers as schools remain closed (apart from examination classes) because of the Covid-19 pandemic has been extended to volunteer teachers.
According to a statement released on the presidency’s official portal, the volunteers benefit, since June 27, from a State subsidy to help them cope as the pandemic persists.
Overall, around...
The African continental free trade area (AfCFTA) could be operational in January 2021, the Ecofin agency reported quoting Wamkele Mene, secretary-general of the organization.
The AfCFTA should have been implemented earlier but was postponed, and even suspended, due to the coronavirus pandemic.
The next Assembly of African Heads of State - scheduled for January 2, 2021 - could be the...
So far, Togo is relatively spared by the Covid-19 pandemic, with little impact on the country’s agricultural output and food security. This was disclosed in a country note recently released by the general directorate of the French treasury.
The document highlights the steps taken by the Togolese government to rapidly contain the outbreak; the country's important grain reserves, as well...
Togo has extended its health emergency to August 16, 2020. President Faure Gnassingbé took a step in this framework, after receiving the green light of the Constitutional court to proceed.
At the date the decision took effect - July 3 - Togo had 233 active covid-19 cases, 424 recovered patients, and 14 deaths. This is against 32,267 tests. Let’s recall that the health emergency was...
On June 17, 2020, the government of Togo announced that it secured its second loan on the international market - €150 million. Given the coronavirus crisis, this was a true gamble that has paid off.
For this operation guaranteed by the African Trade Insurance Agency (ATI-ACA), investors mitigated associated risk by setting a low-interest rate, 4.5%. The move reflects a shift from...
The Togolese ministry of trade and the International Federation of Consular Chambers for Africa (FICA) are seeking 100 Togolese SMEs and SMIs that will enter the Asian market.
From June 30, the deadline to apply to the program was pushed to July 31 to allow as many firms as possible to submit their applications since only 30 businesses were registered at the time the initial deadline was...
Lomé-based banking group Ecobank recently rolled out its “Zero Malaria Business Leadership” initiative. The program, launched with the collaboration of Speak Up Africa and the Partenariat RBM, aims, as its name suggests, at eradicating malaria.
The program implemented in 30 African countries will push decision-makers to increase financing and take stronger and better-targeted actions...
In the past 10 days, 74 new Covid-19 cases were recorded. This is almost twice the number (39) recorded 10 days before, according to the head of the national team coordinating the response against the pandemic, the CNGR.
The rapid increase is due to travelers’ movements and the existence of outbreak foci, such as a company located in the Lomé duty-free zone where about 20 cases...
In Togo, the University of Lomé (U.L) will begin human trials for local drugs made to fight the covid-19 virus on September 1, 2020.
The news, which was relayed in a tweet by Le Temple du Savoir comes after the university proceeded to “in-vitro and in-vivo trials on animals.”
The move to human trials is a significant milestone in the university’s commitment to driving out the...
The BSIC bank launched a call for projects to support SME-SMIs and micro-enterprises in making equipment or tools to fight the coronavirus.
The call targets young entrepreneurs operating in any of the 14 countries - Togo included - where the bank is established. In each country, two selected projects will be financed with €35,000 (+XOF22,000,000) per project.
Thus, the...
The coronavirus-induced recession that the International Monetary Fund (IMF) expects to hit the sub-Saharan Africa region could be far worse than it has foreseen.
Indeed, according to the body, the pandemic could cause the region’s earnings to fall back to the same levels they were a decade ago. From a 1.6% contraction forecast in April, the IMF now expects the SSA economy to shrink by...
Launched in June 2018 by President Faure Gnassingbé, the Agriculture Incentive Financing Mechanism (MIFA) which is based on risk-sharing, celebrated last week its second anniversary.
Over the period, the MIFA, which is inspired by the NIRSAL in Nigeria, helped distribute more than XOF14 billion to 144,000 actors of the Togolese agricultural sector, of which 125,000 are farmers. This was...
The Togolese public treasury seeks XOF30 billion on the regional financial market. This is the country’s first operation on this market this semester.
Lomé has, in this framework, launched simultaneously two bond issuances with respective maturity periods of 3 and 5 years. While the bonds for both operations have a nominal value of XOF10,000 per unit, interest rates for the issuances...
In the past few days, many have been wondering about the privatization of the Nouvelle Société Cotonnière du Togo (NSCT). Talks between the Singaporean group Olam and the State are underway and if conclusive, the Asian firm could secure part or all of the latter’s stake in the public company. The privatization was approved on Monday by the parliament.
Concerns about the...
Yesterday, France and Togo signed an agreement under which the former will provide the latter XOF2 billion (€3 million) for its Novissi scheme. The document was signed by the Togolese minister of economy and finance, Sani Yaya, France’s ambassador to Togo, Marc Vizy, and the head of the French Development Agency (AFD).
The Novissi scheme is an initiative launched by the State to help...
At the beginning of April this year, Togo announced it would mobilize XOF400 billion to deal with the economic repercussions of the covid-19.
Out of this sum, XOF200 billion has been secured so far. The figure was disclosed by Ekpao Adjabo, director-general of the public treasury and accountability. He did so on the sidelines of a meeting between Togolese officials and AfDB executives to...