Agreement inked between STEG and ITFC to fund natural gas import

The Tunisian Electricity and Gas Company (STEG) and the International Islamic Trade Finance Corporation (ITFC) inked a financial deal worth US $154 million. Under the financing agreement, the Saudi-based ITFC and Tunisian firm will be funding natural gas imports. STEG general manager Moncef Harrabi penned the pact in Tunis with CEO of ITFC Hani Salem Sonbol. The CEO stated: “ITFC endeavours to further boost its relationship with Tunisia by means of providing trade integrated solutions to support its strategic sectors.” In turn, CEO of ITFC Hani Salem Sonbol said that…

Partnership agreement between CONECT and AEE Tunisia Chapter

On the fringes of the 2nd Edition of the World Energy Congress “WENERCON 2019″, a partnership agreement was signed on February 3 between the Confederation of Tunisian Citizen Entreprises (CONECT) represented by its president Tarak Cherif and the Association of Energy Engineers (AEE)-Tunisia chapter – represented by its president Ayoub Baba. The main objective of this agreement is to develop a partnership network with the business community, through CONECT, in the dynamic fields of energy engineering, energy management, renewable energies, energy production, energy services and sustainable development. It has thus made it possible…

Tunisia’s inflation falls to 7.1 percent

Tunisia’s annual inflation rate in January fell to 7.1 %, a government official said on Tuesday, according to Reuters. The rate fell from 7.5 % in December. It had reached 7.8 % rate in June last year, the highest since 1990, Reuters reports. Last May, Tunisia’s central bank raised its key interest rate by 100 basis points to 6.75 %, the second hike in three months, to tackle inflation. TunisianMonitorOnline Share4+1TweetShare4 Shares

Council of Economic Analysis proposes recovery plan, pact for economic competitiveness

A pact for economic competitiveness and social equity, an economic recovery plan, including a Dinar plan, a new social contract and an economic dialogue are the main proposals put forward by the Council of Economic Analysis (French: CAE) to get out of the difficult economic situation in the country. The Council, chaired by former Minister Afif Chelbi, suggests a recovery plan, including several measures, particularly a Dinar plan consisting of a series of resolute actions to recover the value of the national currency, support measures for the productive sectors (interest-rate…

” WinOuin, first virtual incubator for young entrepreneurs launched in Tunisia

The first virtual incubator in Tunisia WinOuin (www.winouin.com) was launched as part of a World Bank donation under the “Empower Her” programme. This new platform of support to youths holders of ideas and startups “proposes a digital assistance device used to mobilise the potential of youths, women in regions and Tunisian diaspora worldwide so as to promote economic development and create jobs,” the WB reports Friday.     The incubator will also help develop skills thanks to online or Webinar training. It will facilitate sharing of ideas and knowledge, the access of…

Tunisia takes part in Khartoum International Fair 2019

Tunisia is participating in the 36th edition of the Khartoum International Fair held from January 21 to 28, 2019. Eight companies representing all sectors of production are representing Tunisia in the Fair. Tunisian exhibitors represent the manufacturing sector (metal construction, cleaning materials, water and oil strainers, industrial filtration units, hygiene products, agricultural machinery, etc.) and agri-food products such as pasta, olive and olive oil, dates, yeasts, pastry ingredients…, said the Export Promotion Centre in a statement. The Khartoum International Fair is the biggest economic event in the country which is…

Entrepreneurship Fair: Riyeda to award eighteen young project initiators

Eighteen young project initiators who seek support and funding expect the Riyeda Awards on the occasion of holding a contest as part of the 6th edition of Entrepreneurship Fair Riyeda to be held on February 12-14 at the City of Culture in Tunis, President of Tunisie Place de Marché public limited company Skander Haddar. At a meeting with the press Tuesday in Tunis, Skander Haddar said that three project ideas will be selected on the basis of the criteria of innovation, the profile of the entrepreneur and the employment and…

Tunisia to almost double gas production this year

Tunisia will almost double production of natural gas to about 65,000 barrels of oil equivalent per day this year, the industry and energy minister, Slim Feriani, told Reuters on Friday. The country’s gas output will jump from 35,000 barrels of oil equivalent per day (boed) when the southern Nawara gas field comes onstream in June, Feriani said. “We will raise our production by about 30,000 barrels of oil equivalent when the Nawara project in the south will start,” Feriani told Reuters in interview. This project will be jointly owned by…

Germany’s KfW wants to fund projects in Tunisia as part of Skills Initiative for Africa

Germany’s KfW development bank intends to finance large-scale investment projects in Tunisia in the sector of vocational training and competence development as part of the Skills Initiative for Africa. This initiative was developed through a partnership between the African Union Commission (AUC) and the German Federal Ministry for Economic Cooperation and Development, TAP reports. The initiative, known under its acronym SIFA, is implemented by the African Union Development Agency and funded by the KfW. It targets six African countries in addition to Tunisia, namely South Africa, Cameroon, Ethiopia, Kenya, Nigeria…

Saudi Arabia grants Tunisia $ 500-million loan

The Kingdom of Saudi Arabia has granted Tunisia a loan worth 500 million dollars, the equivalent of 1,500 million dinars on favourable terms, to finance the state budget, the Finance Ministry announced in a statement Wednesday. The Department said the credit agreement was signed by finance minister Ridha Chalgoum and his Saudi counterpart Mohammed al-Jadaan at a meeting held in Riyadh on the sidelines of the visit by the Tunisian minister to Saudi Arabia (January 12 to 14, 2019). The two sides discussed ways of further strengthening bilateral co-operation relations…