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In Agoè-Assiyéyé, Cacavéli and Adidogomé, which are located on the outskirts of Lomé, stores, slaughterhouses, restrooms, warehouses, and stalls will be built in three markets.
The project was initiated by women sellers. It was validated by President Gnassingbé and will be financed with more than XOF500 million, according to the minister of trade, Kodzo Adedze.
Besides...
Yesterday, in Abuja, the ministers of finance and central banks’ governors of the ECOWAS’ five English-speaking countries (Nigeria, Ghana, Sierra Leone, Liberia, and The Gambia), together with Guinea, rejected the ECO - which is supposed to become the single currency used by all ECOWAS member states.
The six members of the West African Monetary Zone (WAMZ) strongly oppose the...
Togo is one of the best-ranked countries in the World Bank’s Women, Business and the Law 2020 report.
The report measures how laws affect women, professionally mostly, in 190 countries. It also looks at reforms undertaken by businesses between June 2017 and September 2019, across eight areas that are associated with women’s economic empowerment.
According to the World Bank...
In 2019, the Incentive Mechanism for Agricultural Financing (MIFA) raised more than XOF8 billion for agricultural actors (76,000 overall).
The beneficiaries, farmers mostly, could boost their activities using the funds. Also, nearly 140,000 jobs were created over the period, according to Aristide Agbossoumonde, director-general of MIFA, who recently met with the press.
Agbossoumonde...
The European Union (EU) just granted €16 million to Togo’s treasury. The sum is part of a €33 million facility to support the country’s budget for 2019-2020.
The disbursement “was driven by Togo’s sustained efforts, its recent reforms which pushed up its ranking in the Doing Business report, economic performances and the macroeconomic policy that are focused on...
The Global Shea Alliance, GSA, has launched a program to boost the exports of quality shea and its derivatives produced in Benin, Burkina Faso, Mali, and Togo.
This is a $3.6 million program launched in partnership with the Enhanced Integrated Framework, (EIF). Its programs is “Supporting the Inclusive Commercial Development of the Shea Value Chain” (PRADCIFK).
Besides boosting...
A delegation from the Swiss firm Global Synergy Africa (GLOSYA) met with officials from the Togolese Chamber of Commerce and Industry (CCIT), last Tuesday. This was revealed on the government’s official website.
On this occasion, the Swiss delegation said it was looking to invest and enter various African markets, including Togo. On the other side, Germain Meba, president of the CCIT,...
The Francophone Africa maritime cluster (CMAF) signed with France’s maritime cluster a partnership agreement on January 14, 2020, in Abidjan. The document was signed by the respective heads of the two parties, Togolese Charles Kokouvi Gafan, and Frédéric Moncany.
“The partnership agreement,” according to Gafan, “will boost actions between the two organizations and make them...
NSIA Group eyes a spot in the Top 5 best financial services of Togo. The firm operates in the country through its subsidiaries, NSIA Assurances, and NSIA Banque.
The group has the same goal in the four other countries where it operates, namely Côte d’Ivoire, Benin, Guinea Conakry, and Senegal.
In terms of growth, “the next step for NSIA Banque is to reinforce its footprint in...
WeLight, the joint venture of Axian Group and Sagemcom, eyes three West African markets, in line with its expansion in sub-Saharan Africa.
Indeed, the JV which invests in rural electrification could soon enter Togo, Burkina Faso, and Niger.
“For economy-scaling purposes, we wish to develop around 50 projects per country and we are currently considering Burkina Faso, Togo, and...
In 2018, Togo was Benin’s second-biggest electricity supplier behind Nigeria.
According to a report of the Central Bank of West African States (BCEAO), 6.3% of Benin’s imports came from Togo, mostly electricity provided through Communauté Electrique du Bénin. From Nigeria which supplies a quarter of its imports, Benin gets petroleum products.
Besides being Benin’s...
Togo’s president, Faure Gnassingbé, urged cotton farmers to increase their yield to attract textile foreign investors to the country. This he said while meeting with farmers in Atakpamé, 190 km north of Lomé, last Monday.
“Our dream is to move to the next step: transform our cotton into fibers, fibers to fabrics and use these fabrics to make the clothes we wear. That is the goal we...
GTA Assurances Vie and Coris Bank Togo entered a partnership to sell and manage a new bancassurance product called Coris Protect.
The related agreement was signed by the respective heads of the companies, Claude Daté Gbikpi and Alassane Kabore.
Coris Protect, according to a statement released by the firms, should enable bank customers be better prepared in the event of an accident,...
In 2019, exactly 11,482 new businesses were registered at Togo’s Centre for Business Formalities (CFE) - a figure that is very close to the peak recorded in 2015. According to the CFE, this is about 9% more than the number recorded the year before that.
In detail, more than 67% of the new businesses (7,844) were created by individuals; this reflects a low level of association between Togolese...
The African Guarantee Fund (AGF) has secured $33 million from the German development bank, KfW. The facility will mostly be used to back small and medium enterprises (SMEs) across the continent.
The fund indeed declares that the monies should “bolster its efforts - in line with its mission - to help African SMEs to keep playing an important part in the growth of African economies,...
On January 17-18, 2020, Lomé will host a summit on the fight against fake drug trafficking in Africa.
Six African presidents, former heads of State and governments, as well as top figures of the global health industry, such as WHO’s managing director, will be present.
The event is organized by Togo and Fondation Brazzaville. It is “a fully African initiative,” according to...