Togo plans to raise CFA390 billion on the regional stock this year, 95 billion this quarter

Public finance

Thursday, 03 January 2019 12:38

Togo plans to raise CFA390 billion on the regional stock this year, 95 billion this quarter

(Togo First) - This year, Togo’s public treasury seeks CFA390 billion of the regional stock market. This is out of the 2,778 billion the stock plans to issue, according to a note released by the UMOA Securities Agency for its investors.

In detail, Togo should raise in the first quarter of the year CFA95 billion, up CFA5 billion compared to the previous year. Together, all WAEMU States should over the period raise CFA932 billion.

Breaking down the monies that should be raised during the current quarter, there is 55 billion of fungible treasury bonds and 40 billion of fungible treasury bills.

Regarding the latter, Togo will first issue 20 billion of fungible treasury bills, on January 10. The remaining 20 billion are to be raised through the same operation on February 8.

As for the fungible treasury bonds, the Togolese government should seek 20 billion respectively via two issuances, one on January 25 and another on March 8. The last 15 billion, the country will try to raise on February 22, 2019.

Séna Akoda

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

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Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

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