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The government of Togo plans to raise a total of CFA420 billion on the regional financial market to finance its 2020 budget, UMOA-Titres reports in its 2020 securities issue calendar. According to the document, Togo is set to raise CFA150 billion in the first quarter, split into CFA125 billion fungible treasury bonds (OATs) and CFA25 billion treasury bills (BATs).
In the 2nd quarter, the country...
The Agricultural Financing Incentive Mechanism based on risk-sharing (MIFA SA) will benefit from financing to the tune of XAF7.5 billion to support the development of SME/SMIs in agricultural value chains.
A memorandum, in that regard, was signed earlier this week by Hussain Jasim Al-Nowais, CEO of the Khalifa Fund, and Sani Yaya, Minister of Economy and Finance, representing Togo, during a...
CimMetalgroup, owned by Burkinabe mogul Inoussa Kanazoé, could spend around XOF100 billion (€152.4 million) in Togo’s cement and iron sectors. According to Jeune Afrique, the group inked an agreement last month to build an industrial complex in the country.
It was allowed to fund iron and cement factories in Togo. However, the two parties disclosed no detail on the matter. Still, if...
SMEs and SMIs in Togo currently need XOF1,000 billion of investments. This was revealed by a recent survey carried out in the framework of the creation of an investment-guarantee fund for SMEs and SMIs. The latter was ordered by Togo’s Chamber of Trade and Industry and the European Union delegation.
Overall, the funds are needed by around 4,000 companies which total a combined turnover...
Construction works for the 30MW photovoltaic power plant in Blitta (Central Togo), were officially launched on February 3, by President Faure Gnassingbé.
The project, which costs $35 million, is partially financed by the Abu Dhabi Fund for Development and the BOAD. AMEA Togo Solar, the local subsidiary of Emirati company AMEA Power, will set up and run the plant, under a 25-year...
Between 2005 and now, tax and customs earnings have almost quadrupled - a performance which was driven by the merging of both authorities managing these revenues.
Indeed, in 2005, tax and customs income were at XOF162 billion. However, they grew steadily - by 10% average per year - to reach XOF624 billion last year. This made Togo the only WAEMU state to reach a tax to GDP ratio of more...
For its last operation on the UMOA-titres market, and the second this year, Togo recorded a subscription rate of 296%. For this transaction, Lomé issued fungible treasury bonds.
This subscription rate corresponds to about XOF75 billion, which is almost thrice the amount sought. However, the Togolese treasury will retain only XOF27.5 billion which will serve to plug budget gaps in...
In line with its project to provide health insurance for all Togolese artisans, the national health insurance institute (INAM) has launched a wide registration campaign in the Grand Lomé area. The campaign will close on February 7, 2020.
Those interested can register at the municipal offices of the area, at the Bè community centre, Tokoin’s, and offices of the Golfe and Agoè-Nyivé...
Togo’s chamber of trade and industry (CCIT) is looking to set up an investment and guarantee fund for SMEs and SMIs. The project is backed by the European Union (EU).
The CCIT has ordered the feasibility study for the project and should meet today, February 3, with concerned actors that are likely to be engaged in the management of the fund.
Let’s recall that the institution had...
Driven by agriculture, Togo’s economy is expected to grow to 5.3%, a recent report by the African Development Bank (AfDB) showed.
“Economic outlook is encouraging and growth should reach 5.3% in 2020 and 5.5% in 2021,” according to the document. This positive trend should be spurred by “good results in agriculture and healthy monetary management.”
In fact, debt should fall...
Yesterday, January 30, Togo adhered to the Organization for Economic Cooperation and Development's (OECD) multilateral convention for administrative assistance in tax matters (known as “The Convention”).
The convention was signed at the OECD’s headquarters in Paris, by Calixte Batossie Madjoulba, Togo’s ambassador to France, and Ludger Schuknecht, general deputy secretary of the...
In 2019, Togo’s tax office (OTR) collected more than XOF624 billion in revenues, thus 93% of the XOF669 billion it had expected for the year.
However, according to Philippe Kokou Tchodié, who heads the OTR, the monies collected are 11%-12% up compared to the amount it recorded the year before.
Over the first half of 2019, Togo had mobilized XOF326 billion in tax earnings - almost...
French customer experience specialist, VIPP Intersis, announced yesterday that it will start operating in Togo next April.
The firm opened an office in Lomé in line with its expansion strategy in sub-Saharan Africa. It is already present in Cameroon and Benin.
In Togo, VIPP Intersis plans to recruit 500 young Togolese in the next three years. This year alone, it says it will...
In Togo, new power supply infrastructures were installed in the Vo-Asso and Zooti localities in the Golfe prefecture.
Related works cost overall XOF285 million. In detail, 11.9km of medium tension lines (4.4km in Vo-Asso and 7.5km in Zooti) and 9.6km of low tension lines (6km in Vo-Asso and 3.6km in Zooti) were laid in the prefecture. Besides the tension lines, 54 and 53 light poles...
From May 7 to May 10, this year, Lomé will host the West Africa Livestock and Meat Fair (SIBVA 2020). The regional event will take place at the Eda Oba hotel in Lomé.
One of the peculiarities of this fair, which is backed by the Togolese government, is that it aims to foster public-private partnerships for better development of this sub-sector (ed note: livestock and meat) that can drive...
At the end of 2019, the property registration process in Togo took only five days on the average, against eight at the beginning of the same year, recent data from the national land registration office shows.
According to the World Bank, the improvement is attributable to reforms introduced by the government to make Togo’s business environment more attractive. “The reforms improved...