The African Export-Import Bank (Afreximbank), the Togolese subsidiary of the Ecobank Group and BIA Togo are joining forces in favor of the implementation of the Adétikopé Industrial Platform (PIA). Tuesday August 16, 2022, the three banks formalized their partnership, in Lomé, by signing a credit agreement an amount of 145 million Euros, or more than 95 billion FCFA, for the construction of the infrastructures of the PIA which extends over an area of 400 hectares. This agreement reflects the commitment of these banks to support the socio-economic development of Togo, through the implementation of the government roadmap 2020-2025.
The documents of this financing agreement for the construction of the Industrial Platform of Adétikopé (PIA) were signed, on August 16, 2022, in Lomé, by Mrs. Oluranti Doherty, Director of Export Development of Afreximbank, Mr. Souleymane Touré , Managing Director of Ecobank-Togo, Kossi Djokoto, Deputy Managing Director of BIA Togo, and Mr. Sanjay Dey, Director of Project Finance at PIA. The ceremony took place in the presence of the Minister of Economy and Finance, Mr. Sani Yaya and the Minister, Secretary General to the Presidency, Ms. Sandra Ablamba Johnson.
Indeed, the new government roadmap 2020-2025 aims to make Togo a modern state, with economic growth that is both sustainable and inclusive. Creator of more than 35,000 direct and indirect jobs, the Adétikopé Industrial Platform aims to promote attractiveness and attract investors, with a view to developing industrial and multi-sector activities, in particular the processing of agricultural products (cotton , soy, cashew etc.) and local miners. The project in its phase 1, houses an industrial and logistics zone, a shopping and residential center and world-class infrastructure. It will also develop, in phase 2, agricultural processing industries (cashew nuts, pineapple, corn, mango, sesame) and modern infrastructure.
Bank representatives signing the documents
This banking pool thus joins BOAD
In this agreement, Afreximbank, Ecobank and BIA Togo, which undertake to support the government, have respectively provided funding of 85 million, 45 million and 15 million Euros. This banking pool thus joins the West African Development Bank (BOAD) which has set up, in favor of the PIA, a loan for an amount of approximately 30.5 million Euros, i.e. 20 billion CFA francs, whose agreement was signed on October 21, 2021, thus making it possible to complete the financing plan for this major project with an overall cost of 247 million Euros. BOAD also works within the framework of the overall bank financing of the Security Agent quality project.
« Afreximbank considers the industrial platform as an initiative in line with its objectives of promoting and facilitating the development of African industrialization and exports. This project represents Afreximbank’s fourth project in the Industrial Parks space, with the ARISE group, a collaboration that today represents solutions totaling approximately 257 million Euros. said Ms. Oluranti Doherty, Export Development Manager Afreximbank. According to her, Afreximbank has played a pivotal role in establishing various industrial parks and special economic zones across Africa. Projects that might prove transformative for countries’ industrialization and export development efforts.
Table of honour. We recognize the ministers Sandra Ablamba Johnson and Sani Yaya (3rd and 4th from the left)
Continue to grow the various sectors of economic activity
The managing director of Ecobank-Togo, Mr. Souleymane Touré, for his part, indicated that his group’s vision is to build a world-class pan-African bank. The bank also intends to contribute to the economic development and financial integration of the continent. One of the major axes for carrying out this mission, he said, is the financing of African economies, in order to continue to grow the various sectors of activity of the economic fabric, in particular the industrial sector which is an important pillar of the government road of Togo. For Mr. Touré, Ecobank-Togo, as an important player in the private sector in Togo and a subsidiary of the Ecobank Group, has put its expertise in the financing of structural projects, in partnership with Afreximbank and BIA, to contribute to the financing of this project. This partnership concluded between the three financial institutions and ARISE Groupe will contribute to the structural transformation of the economy, for strong, sustainable, resilient, inclusive growth, and will ensure job creation, improved well-being social. ” Ecobank-Togo, through this financing, thus pursues its objective of supporting national development. We thus mark our strong involvement and our commitment in the implementation of the PND “, made clear Mr. Touré.
“The pan-African group Attijariwafa bank, of which we are a subsidiary, is resolutely committed to financing strategic projects for the national economy, with a view to creating shared value. The participation of the BIA-Togo in the financing of the large-scale project of the Industrial Platform of Adétikopé to the tune of 15 million Euros, is our contribution to the structuring of an integrated ecosystem, ranging from logistics and warehousing and processing of our basic products. This vision of industrialization carried by the Togolese State is a guarantee of the acceleration of socio-economic development for the country. “said, for his part, Mr. Kossi Djokoto, Deputy Director General of BIA Togo.
The director of project finance at PIA, Mr. Sanjay Dey, congratulated the three banks for their vision to contribute to the achievement of the objectives set by the platform.
This funding reflects confidence in the Togolese economy
In his speech, the Minister of Economy and Finance, Mr. Sani Yaya, explained that this significant financing reflects the banks’ confidence in the Togolese economy and the commitment to support all development projects in Togo. The PIA, he recalled, is one of the flagship projects of the government’s roadmap. It aims, essentially, to contribute to strong, sustainable, inclusive growth, especially to the development of the country through the structural transformation of the economy. The Minister encouraged the banks to support even more, not only the Adétikopé Platform, but also all the government’s development efforts, through the projects included in the 2020-2025 roadmap. ” PIA is just one of many projects on the roadmap. Others are still awaiting funding. The Togolese government is making the private sector a partner of choice. It is together with the private sector that we will pursue this ambitious development program for our country, with a view to its emergence. concluded Minister Yaya.
Komla GOKATSE