EBRD, Enda Tamweel and Attijari Bank supporting microfinance in Tunisia

Loan of up to TND 20 million to microfinance institution Enda Tamweel Local micro, small and medium-sized enterprises to benefit EBRD risk-sharing framework with Attijari Bank of Tunisia The European Bank for Reconstruction and Development (EBRD) is strengthening access to finance for Tunisian micro, small and medium-sized enterprises (MSMEs). The Bank is providing Attijari Bank of Tunisia with an unfunded risk-sharing guarantee of 50 per cent on a loan to Enda Tamweel, the leading microfinance institution in the country. Under the EBRD’s Risk Sharing Framework (RSF), Attijari Bank of Tunisia is extending a loan of up…

Tunisia to issue debt and push reforms this year, says Finance Minister

Tunisia will issue debt worth up to US$3bn this year and aims to roll over some existing credit arrangements while setting in train wider economic reforms, Finance Minister Ali Kooli told Reuters in an interview. With a deficit estimated at 11.5% of gross domestic product last year and public debt at 90% of GDP, Tunisia plans reforms to cut its high public wage bill and subsidies and restructure poorly performing state-owned companies, Kooli said. The Covid-19 pandemic, political infighting and ongoing protests over inequality have added to the pressure on…

Are we headed to a complete breakdown?

Unfortunately, we have witnessed over the last days an unprecedented rise of political violence in a tense atmosphere. It is clear that political hatred discourse increasingly divides the country and threats the unity of Tunisians. The current situation damages deeply Tunisia’s reputation as well as subverts the Tunisian emerging democracy. The situation Tunisia is going through is so sorrowful and painful that it demands ultimate care and attention from all the society components. The mistrust between various political parties reaches its apex .The darker situation begs the question: are we…

4 Tunisia startups make the first cohort of the BCT sandbox

Credit BCT 4 Tunisian startups have been chosen to take part in the first cohort of the Central Bank sandbox, Tech In Africa reports. The fintech companies chosen are Kraoun, Instaclear, TLedger, and Sqoin & Coinsence. The companies will test and validate their fintech solutions in an effort to have them validated. The test period duration is 9 months, the same said. The candidates provide solutions related to customer identification, cryptocurrency, cross-border clearing, and the creation of digital central money through cutting edge technologies driven by AI and blockchain, Tech…

Tunisia deploys satellite monitoring system for fishing vessels

The Ministry of Agriculture, Water Resources and Fisheries announced the deployment of a satellite surveillance system for fishing vessels over 15 metres in length. This system is based on three complementary components, namely a central computer system at the ministry, 50 central and local control rooms, and terminals ensuring the transmission of data relating to the location and activities of vessels while guaranteeing confidentiality. These terminals will be installed in 874 ships (6.72% of the fleet), the ministry added Friday in a statement. Maritime equipment manufacturers are free to choose…

Tunisia issues fifth 70 MW PV tender

The Ministry of Energy, Mines and Renewable Energies has kicked off a fifth tender to develop and build several solar power plants up to 10 MW in size, pv-magazine reports. Through this tender, the government aims to build six solar power plants with installed power capacities of 10 MW each and 1o smaller solar arrays of 1 MW in size. The deadline to submit project proposals is March 25, 2021. Selected projects will sell electricity to STEG, Tunisia’s state-owned utility, under a long-term power purchase agreement, the same source adds. In its…

IMF urges Tunisia reform plan, social support

The International Monetary Fund on Saturday encouraged Tunisia to establish a reform plan and bolster social support, as the virus-hit country struggles to balance its budget. “Tunisia faces two immediate challenges: saving lives and livelihoods until the pandemic wanes, and starting to bring economic imbalances back to a sustainable trajectory,” an IMF team said in a statement. The statement was released after virtual consultations with Tunisian authorities in late December and earlier this month. “A broad-based and credible reform plan backed by Tunisian society and international development partners is critical…

2 Tunisian tech startups secure investment from new seed fund

Two Tunisian tech startups have secured investment from the newly-launched Maxula Seed Fund, which aims to support innovative, early-stage Tunisian startups with high growth potential across a range of impactful sectors, Disrupt Africa reports. Created by asset management company Maxula Gestion, the fund has raised capital from insurance company MAE and the Arab Tunisian Bank (ATB), and wants to back companies with innovation at the heart of their business models. “The Maxula Seed Fund was created by Maxula Gestion as part of a synergy with our portfolio of investments. Our objective…

Tunisia and Libya discuss oil sector cooperation

Credit goes to NOC Facebook page Tunisian ambassador to Libya, Lasaad Lajili, met with Chairman of the Board of Directors of the Libyan National Oil Corporation (NOC), Eng. Mustafa Abdallah Sanalla. The meeting was an opportunity to discuss means to strength the two countries’ cooperation in the oil sector. The Tunisian ambassador visited the NOC headquarters at Tripoli, at the invitation of the Corporation’s Head, read a statement issued by the NOC on Wednesday, January 20, 2021. The two official discussed ways of strengthening bilateral cooperation between the NOC and…

Tunisian Exporters See Opportunities Abroad

Tunisian olive oil companies will export at least 70,000 tons of bottled product every year starting in 2025.  This is the rosy forecast of the country’s exporters, who sent 27,000 tons of packaged olive oil abroad in 2020, Olive Oil Times reports. According to the president of the Tunisian Chamber of olive oil exporters, Chihab Ben Slama, local producers are poised to benefit from the growing worldwide demand. “In the last three decades, consumption of olive oil in the world has doubled and it tripled in non-producing countries, as it happened in China…