Bukina Faso cement company Cim Metal Group to establish its subsidiary in Togo

TOGO – Cim Metal Group, a Bukina Faso cement company, has announced through its CEO, the construction of a cement plant in Togo by September 2021. The project will be led by Cimco (Cimenterie de la Côte Ouest Africaine), the Togolese subsidiary of group, and will mobilize a total investment of 65 billion CFA francs (US$117.77m). The commissioning of the plant should allow the creation of 500 direct and 1000 indirect jobs. The annual production capacity of the future factory is estimated at 25 million tonnes of cement. According to…

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Real estate financer Shelter-Afrique partners with Togo to build low-cost housing units

TOGO – Shelter-Afrique, a real estate finance institution, and the Togolese government have announced the building of 3,000 low-cost housing units in Lomé. Shelter-Afrique, a pan-African finance institution, committed to partially finance the project and, as lead arranger, mobilize other investors to secure the remaining amount. For its part, the Togolese government will provide the needed land, infrastructure, and tax incentives for its smooth realization. This is in a context where the housing deficit in the Togolese capital surged over the past decade, due to population growth and accelerated urbanization. …

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IFAD reappoints its president Gilbert Fossoun Houngbo for a second four-year term

TOGO – International Fund for Agricultural Development (IFAD) has announced the reappointment of Gilbert Fossoun Houngbo, a senior official and former Prime Minister of Togo, as its head for a second term. IFAD’s board of governors, the Fund’s main decision-making body, has renewed its trust in him, for a second four-year term. Gilbert has headed the Rome-based institution since 2017. Not long after he was reappointed, the Togolese announced, on social networks that he would focus, during his new term, on consolidating actions undertaken in the first. “My first priority…

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REGUS to open new workspace in Togo in partnership with Confortis International Group

TOGO – REGUS, a multinational corporation that provides serviced offices to clients on a contract basis and the flagship brand of the IWG Holding (International Workplace Group), has announced plans to open a new workspace in Togo that will be located at 2447 Avenue de la Chance in the new administrative district (GTA Lome II) in the North of Lome. The REGUS centre will open as a franchise in partnership with Confortis International Group and will offer a wide range of ready-to-use workspaces ranging from private offices to coworking, meeting…

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Telco company Moov Africa to set up subsea cable from Morocco to Togo

TOGO – Moov Africa Togo, a subsidiary of the Maroc Telecom Group, has announced plans for a new subsea cable on the continent, connecting Casablanca in Morocco to Lomé in Togo. The news is set to bolster the company’s offering in Togo, with the Maroc Group’s H1 financial results revealing that the company saw a 13.8% decline in subscribers, compared to the same period in 2019. “This cable will develop and improve international coverage and connectivity, especially national connectivity. It has a great capacity which will allow internet users to…

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Transport technology platform Gozem partners with AAIC to launch its healthcare services

TOGO – Gozem, a transport technology platform, has announced a partnership with Asia Africa Investment & Consulting (AAIC), a dedicated Singaporean fund manager, to launch its healthcare services. The carrier, which has been claiming the status of Super App of Africa since August 2020, has taken a step forward, casting a wide net, after adding home delivery to its range of services, with the acquisition of Délivroum, the largest Togolese delivery application for parcel. The startup says that it works in close collaboration, with the AAIC, to integrate health services…

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Transport technology platform Gozem partners with Coris Bank for lending mechanism

TOGO – Gozem, a transport technology startup, has partnered with Coris Bank International Togo to allow its driver-partners to access low-interest loans towards the purchase of new motorcycles. The new partnership will allow Gozem driver-partners to purchase new motorcycles at a competitive rate and flexible repayment period The strategic partnership will enable the ride-hailing startup’s driver-partners to access performance-based financing and is a step towards large-scale, data-based financing in the informal sector. “We are committed to supporting our drivers to ensure their success, not only in terms of increasing profits…

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SouthBridge Group concludes two transactions in Togo with Olam and Arise Special Economic Zone

TOGO – SouthBridge Group, an innovative, pan-African financial advisory and investment firm, working with corporates, sovereigns and multinationals across the Continent, has concluded two significant transactions in the Republic of Togo. SouthBridge advised the Government of Togo to facilitate a strategic partnership with Olam International Limited, a global agri-business firm, headquartered and listed on the Singapore Exchange (SGX), and the Arise Special Economic Zone, an Olam subsidiary, jointly owned with the Africa Finance Corporation. The State of Togo and Arise signed an initial agreement on July 8th , 2020, which…

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Nokia gets selected by Togocom to deploy 5G in Togo

TOGO – Nokia, a Finnish multinational telecommunication, has announced that it has been selected by African mobile operator, Togocom in a three-year deal to deploy 5G in Togo. In the capital city Lomé, the 5G network has already been launched, the first time a 5G network has been deployed in West Africa. The deal, which also sees legacy 2G, 3G and 4G networks enhanced, will strengthen Togocom’s market-leading position in Togo and future-proof its infrastructure for the next-generation of digital services for Togolese citizens. The deal sees Nokia provide equipment…

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AIIM plans to invest more into clean energy platform Bboxx to fund its growth

AFRICA – African Infrastructure Investment Managers (AIIM), chief investment officer Romain Py has announced plans to invest more money into clean-energy utility platform Bboxx to fund the company’s growth. Bboxx manufactures, distributes and finances decentralised solar powered systems. It says it has provided more than one million people with electricity, which it uses as a starting point to deliver further services. It operates in countries including Democratic Republic of Congo (DRC), Rwanda and Kenya. Private-equity firm AIIM, which is owned by Old Mutual Alternative Investments, stake in Bboxx, won’t increase…

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