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…

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…

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…

Seminar on plastic recycling due in TUNIS

A seminar on the theme “The Circular Economy of Plastic: Best Practices and Networking” will be held on December 18 and 19 in Tunis. The event which is financed by the European Union aims to support and strengthen social and ecological innovations in various countries in the Mediterranean and to promote interaction between the Tunisian and European plastic recycling industries, with the goal of creating future forms of collaboration. SwitchMed is coordinated by the EU; the UN Industrial Development Organisation (UNIDO); the Mediterranean Action Plan (MAP), part of the United Nations…

Tunisia produces 3 pct of electricity from renewable energy

A total of three per cent of the electricity is from renewable energy in Tunisia, President of Tunisian Association of Wind Energy (ATEE) Nafaa Bakari said Thursday at an international forum on renewable energy, energy efficiency and investment in energy infrastructure. Bakari said that Tunisia was able to make the first steps toward energy transition in a carbon-free economy voicing hope to reach 20 per cent by 2020 and 22 percent per cent by2030. Since 2017, a series of international tenders were launched for the achievement of major energy projects…

Tourism Ministry eyes one million French tourists in 2019

The Tunisian Ministry of Tourism and Handicrafts is striving in collaboration with French and Tunisian tour operators, to energise the French market so as to bring the number of French tourists visiting the country to one million in 2019. Minister of Tourism and Handicrafts René Trabelsi said in Paris, on the sidelines of a meeting with managers of these travel agencies and the Union of Tour Operating Companies (Seto) that the department is betting more on the French market, which has attracted nearly 737 thousand tourists until November 30, 2018, against…

Digitalisation Index of Enterprises and Consumers: Governorate of Tunis ranks first:

In terms of digitisation of Tunisian private companies and consumers, the Tunis governorate occupies the first place, according to the 3rd edition of the digitisation index published by the Arab Institute of Business Leaders (IACE), in collaboration with Tunisie Telecom telephone operator. The consumer digitisation index of the governorates of Tunis and Ben Arous was 5.6 points and private companies stood at 7.3 points, against 2.1 points for the governorate of Mahdia and Kasserine. The governorate of Ariana ranked second in terms of consumer digitisation index, with 5.5 points and…

Tunisia, KfW ink €100 million loan agreement for water sector overhaul

A loan agreement of 100 million euros (about 330 MTD) in the form of budget support for the second phase of the water reform programme was inked by the Development, Investment and International Cooperation Ministry and the German Development Bank (KfW) Wednesday in Tunis. The loan, which will be repayable at an interest rate of 2.2% over 15 years with a grace period of 5 years, will be disbursed in 2019. Director of KfW Tunis Office Sven Neunsinger said the loan will fund large-scale water reforms. The KfW has 1.2…