Togolese enterprises lose 80 billion CFA

17/04/2007
Togolese enterprises lose 80 billion CFA

Public and private sector enterprises in Togo lost 70-80 billion FCFA (150-190 million US dollars) due to the energy crisis in 2006, the president of the National Employers' Council in Togo, Kossivi Nakou, cried here Monday.

"We are no longer in a position to increase our productions, and we are faced with huge difficulties," Nakou told a press conference."Even if it was necessary to resort to a debenture loan to settle this crisis, we can subscribe to it," he suggested.

Togo has faced an unprecedented financial crisis since the beginning the past year.

Togo, which relies on the outside world for 80% of its electric power supply, is undergoing difficulties due to the reduction of supplies by its main partners, Ghana and Côte d'Ivoire, which are also facing production problems.

Last February, Togo turned to Nigeria, which promised to deliver 75 Megawatts, but energy from that source has been unreliable to help Togo to resolve its crisis.

The authorities in charge of energy presently resort to "power shedding" by supplying by zone at least 7 to 8 hours of electricity per day to the populations and enterprises.

 

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