Country FilesWestCountry Profile 2014: TOGO

Thu,23Nov2017

Posted on Monday, 10 February 2014 11:43

Country Profile 2014: TOGO

Protests and calls for reform

Despite the street protests and demands from civil society that took place in 2013, the Togolese government managed to organise legislative elections in July 2013 and reduce tension during the last part of the year. There is no certainty that 2014 will not bring similar instability as there are many challenges that remain to be resolved on the political and social fronts ahead of presidential elections in 2015.

TABLE OF CONTENTS:

TOP TOGOLESE COMPANIES

TOP TOGOLESE BANKS

 

ar-infographie-togo-2014Protests and calls for reform

The government plans to create a senate and put limits on presidential terms

Port activity and mining exports are central to the government’s strategy

Despite the street protests and demands from civil society that took place in 2013, the Togolese government managed to organise legislative elections in July 2013 and reduce tension during the last part of the year. There is no certainty that 2014 will not bring similar instability as there are many challenges that remain to be resolved on the political and social fronts ahead of presidential elections in 2015.

President Faure Gnassingbé will then finish his second term after being reelected in 2010. The opposition is demanding that the government enact a series of institutional and constitutional reforms before the polls are held.

Those demands are the centre of many of the protests organised by the Collectif Sauvons le Togo (CST) and the Coalition Arc-En-Ciel, two civil society and opposition umbrella groups. Announcing the beginning of a new legislative term in September 2013, Prime Minister Kwesi Ahoomey-Zunu said that reforms were high on the government’s agenda, including changes to the Cour Constitutionnelle, the imposition of presidential term limits and the creation of a senate. However, the government says that it is the national assembly that will do the work on these reforms, and it is dominated by the ruling Union Pour la République, which holds 62 of 91 seats.

WAGE NEGOTIATIONS

Jean-Pierre Fabre’s Alliance Nationale pour le Changement and its allies in the CST now form the largest opposition bloc inparliament –with 19 seats– having replaced Gilchrist Olympio’s Union des Forces de Changement, which took only three seats. The government has attempted to calm social tensions with a temporary increase to public sector salaries. It paid workers either 20,000 CFA francs ($40) or 30,000 CFA francs per month extra from May to December 2013 depending on their pay categories.

The Synergie des Travailleurs du Togo, a leading union, is sticking to its demands for a wholesale revision of the wage structure and a general increase of 50% for all salaries. The government proposed an 18% rise, so there will be more negotiations before the sides find an acceptable compromise. Elsewhere on the social front, the government was planning an already delayed national conference on health and education at the end of 2013. Health and education were the subjects of several protests in 2013, one of which led to the death of a 12-year-old student in Dapaong who was shot by police in April.

While the International Monetary Fund says strong performances in agriculture, mining and construction will bring economic growth, it also says the government has not shown a commitment to reform. Spending rose due to higher-than-budgeted election expenditure and costs of the government’s fuel subsidies. Nonetheless, the government is trying to improve revenue collection through the creation of the Office Togolais des Recettes, a centralised body that became operational in late 2013.

REVITALISED OPERATIONS

The government privatised two state owned banks in 2013 but was unsuccessful in attempts to sell two others.

Completion of the limestone mine of Scan Togo Mines, a subsidiary of Germany’s Heidelberg Cement, in late 2014 should give a boost to the construction sector by producing up to 5,000tn of clinker per day. The service sector will also benefit from the construction of the Lomé port’s third quay, which was due for completion before the end of 2013. In addition, Bolloré Africa Logistics is tripling its storage capacity at the port to 38ha as part of plans to expand capacity from 225,000 containers per year to 1m.

The government is spending 55bn CFA francs to revitalise the operations of the Société Nouvelle des Phosphates du Togo. Production rose to just over 1m tn in 2012 and was projected to hit 1.5m tn in 2013. The government has plans for the construction of a fertiliser plant and it concluded discussions with Australian company Balamara Resources on plans to mine its reserves of 2 bn tn of phosphates at Kpémé. The project is expected to cost $23bn and begin production as early as 2014. Attempts to diversify the mining sector have not all been successful, and the government cancelled MM Mining’s licence for the Bandjéli iron ore deposit in September.

 

TOP TOGOLESE COMPANIES

Rank 2012Rank 2011CompanySectorCountryTurnover (Thds $)Turnover changeNet profits
455449TOGO TLCOM*TELECOMSTOGO235,610NA49,338
 

TOP TOGOLESE BANKS

Rank 2012Rank 2011Bank nameCountryTotal assetsNet interest incomeLoansDeposits
2124ECOBANK TRANSNATIONAL INC.*TOGO10,466,871899,6435,264,1847,924,585
170159ORAGROUP SA (EX-FINANCIAL BANK)*TOGO644,32636,151321,164488,957
 


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