Tunisia’s Best Hope for Economic Reform

Eight years after supplying the spark that lit the Arab Spring, Tunisia is again bracing for political upheaval in 2019, Bloomberg Opinion said in its website. Abassi has restrained spending by tightening access to credit, and raising the bank’s key interest rate, from 5 percent to 5.75 percent in March, and then to 6.75 percent in June. Since then, he has resisted IMF calls for further rate hikes, and defied dire predictions by holding the inflation rate to 7.5 percent. He has also allowed the dinar to weaken steadily, in line with the IMF’s…

Panoro announces the closing of the acquisition of OMV Tunisia Upstream GmbH

Panoro Energy ASA (the “Company” or “Panoro” with OSE Ticker: PEN) has announced in a press release the completion of the acquisition of OMV Tunisia Upstream GmbH and its Tunisian assets. Thus, Panoro Tunisia Production AS (“PTP”, 60% owned) now holds an indirect 49% interest in five oil producing concessions in Tunisia, with proven and probable net reserves of 8.1 million barrels as of 1 July 2018 and net current production of approximately 2,000 barrels per day net for Panoro from 14 wells. In addition, Panoro Tunisia Production AS indirectly…

WB: 300 million new jobs needed for MENA region by 2050

The World Bank said that the Middle East and North Africa (MENA) region needs to create 300 million new jobs by 2050. Vice President for MENA at the World Bank, Farid Belhaj, took part in a conference on the theme “Investing in Human Capital for a Better Future for the Region” held Friday in Tunis. Two reports on global development prospects for 2019 and education in the MENA region were presented as part of the event. In turn, World Bank (WB) Co-ordinator Federica Salio said “Tunisia is the first country…

Libya’s Health Ministry to pay debts owed to Tunisian clinics

Libyan Health Under-secretary Mohamed Haitham agreed on Wednesday with Tunisian Health Minister Abderraouf Sherif to form a working team between the two ministries, in order to pay the debts owed by Libya to the Tunisian health clinics within days, the Libya Observer reports on Thursday. “The Libyan official was briefed during his visit to Tunisia on the outcomes of the committees assigned to examine and audit the debts of the treatment of Libyan patients in Tunisia,” the Health Ministry said. The Libyan Health Ministry has started since the beginning of…

Five-Year Strategy for Tunisia by EBRD

The European Bank for Reconstruction & Development has unveiled its strategy for Tunisia for the period 2018 to 2023. Through this strategy, the Bank pledges to support the competitiveness of Tunisian companies by opening markets and strengthening governance, the North Africa Post said in its website. The EBRD country strategy also seeks to promote economic inclusion for women, young people and populations living in remote areas through private sector engagement and investment, it added. The European bank vows to enhance the resilience of the Tunisia financial sector, broaden access to…

Magasin Général company buys Founashop

The Magasin Général (MG) company has acquired, Wednesday, December 19, 2018, the online supermarket Founashop at 80%, the other 20% remain the exclusive property of Karim Skik. This operation remains dependent on the approval of the Trade Ministry. A major opportunity for Tunisia’s first online supermarket, which will be able to benefit from the advantages of a large brand like MG in terms of market size, a variety of products, know-how and resources. It is also an opportunity for MG to position itself in the online retail sector by taking advantage…

Unlike other Arab regimes, Tunisia’s remembers old crimes (The Economist)

Eight years after the Arab spring most Arab regimes treat these words as policy.  Tunisia is different. On December 14th its Truth and Dignity Commission (IVD) held its final public meeting. Modelled on South Africa’s post-apartheid Truth and Reconciliation Commission, the ivd’s mandate goes back to 1955, a year before Tunisia gained independence from France. Most of its work has focused on the dictatorship of Zine el-Abidine Ben Ali, who ruled the country from 1987 until 2011. By the end of 2018 it will hand the government its final report, a…

Over 13,500 Tunisian migrants reached Italian coasts illegally in 4 years (Report)

The Tunisian Forum for Economic and Social Rights revealed that more than 13,500 Tunisian migrants reached illegally Italian coasts in the past four years. The President of the forum, Massoud Romdhani said that from January to the end of November in 2018, the number of irregular migrants exceeded 6,000, against 569 in 2015. He said that 67 % of the people who left the Tunisian territory in a non-regulatory way were between the age of 20 and 30 years old and most of them were unemployed or in precarious jobs.…

BEE set to launch internet service operations in Tunisia in Q1 2019

BEE, a joint venture formed by Tunisian and foreign investors, will launch internet services in Tunisia in the first quarter of 2019, reports Ecofin. BEE will initially offer ADSL and VDSL services before expanding to others such as FTTH, IPTV and telephony, the new company’s operations manager Karim Labidi said. He said the project is administratively and technically ready for launch. A network of sales points is being installed in the country to be as close to clients as possible. BEE is counting on proximity and competitive prices to gain…

Project of “Citizenship for Environmental Governance in Gabes (CIGEN)” presented

The  “Gabès Action” Association held  Monday, a workshop on the project “Citizenship for an environmental governance in Gabes (CIGEN)”,  with the representatives of the companies, the local authorities and the public administrations of Gabès. This project gave birth to 17 environmental micro-projects in four delegations: Ghannouch, Gabes-Ouest, Gabès-ville and Gabès-Sud and a “water governance” platform was set up as part of this project so as to develop water management policies and ensuring better use of water resources in the region. A grant of some 1 MD was allocated for the…