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…

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…

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…

Al Badr group builds new power plant in Borj El Amri

Al Badr group is building a new power plant in Borj El Amri, with Tunisian expertise. The construction works for the gas turbine power plant in Borj El Amri (Mornaguia) with a production capacity of 624 MW have just been completed. This power station, which will contribute to promote the national capacity of electricity production, and thus industry, and which will also meet the requirements of population growth, is being built by the Tunisian group Al Badr through the companies SOCOBAT, PIRECO, and ETELEC. This project reaffirms the know-how of…

CEPEX: Support measures for prospecting 10 African markets

New support measures for Tunisian companies have been announced by the Export Promotion Center (CEPEX) for the prospecting of 10 African markets. Tunisian companies wishing to carry out prospecting missions in Kenya-Tanzania-Ethiopia-Djibouti-Nigeria-Cameroon-Benin-Rwanda-DRC-Ghana can benefit from the following incentive measures: reimbursement of 70% of the cost of the plane ticket and grant of 70% reimbursement of an allowance of 600 DT per day, with a ceiling of 5 days of prospecting per country. According to CEPEX, these benefits extend to a maximum of two representatives for each company and per prospecting…

TUNISIA: €132m KfW for rainwater management and energy efficiency

The Kreditanstalt für Wiederaufbau (KfW), the German development agency, signs two loan agreements worth 132 million euros with the Tunisian authorities for rainwater management and energy efficiency in public buildings in Tunisia. The agreements were signed recently at the Ministry of Foreign Affairs, Migration and Tunisians Abroad, between officials of the Kreditanstalt für Wiederaufbau (KfW), the German development agency and representatives of the Tunisian Ministry of Agriculture, Hydraulic Resources and Fisheries (MARHP). KfW has pledged €111 million for the implementation of the Storage and Flood Protection Programme (SPCI), afrik21 reports.…