Day: May 8, 2024

Tunis: A promotional roadshow for the 21st edition of Tunisia Investment Forum (TIF): EU-Tunisia Business Forum, set for June 12-13, 2024 in Tunis, was launched from May 8 to 15, 2024, with European decision-makers and investors in Munich, Madrid, Brussels, Paris, Lyon and Rome.

These meetings, chaired by Minister of Economy and Planning Feriel Ouerghi Sebaï and Foreign Investment Promotion Agency FIPA-Tunisia CEO Jalel Tebib, seek to present the various economic reforms and Tunisia’s efforts to further improve the investment climate to decision-makers, heads of sectoral organisations, business leaders and investors.

The goal is also to promote Tunisia as a site and strategic platform for investment and fruitful partnerships, notably in promising, value-added sectors, said the Ministry of Economy in a press release on Wednesday.

Organised in coordination with the FIPA offices and the diplomatic missions of concerned countries, these meetings will serve to present the state of preparations for the TIF and t
o invite decision-makers to the Forum to find out about the country’s investment opportunities and comparative advantages.

The 21st edition of TIF will be held on June 12-13 in Tunis, at the initiative of FIPA-Tunisia in collaboration with the European Union/Delegation in Tunisia and with the support of the International Finance Corporation (IFC), a member of the World Bank Group.

Source: Agence Tunis Afrique Presse

Tunis: Works of the national conference to present the results of the overall national energy audit of Tunisian municipalities opened Wednesday in Tunis.

The Alliance of Local Councils for Energy Transition (French : ACTE) project helped determine the properties of municipalities – a total of 350- and present possibilities to save energy, Project Manager Abdelhamid Kanouni told TAP.

Eight thousand vehicles, 3,200 buildings and 73,000 lighting points are the property of municipalities. Investing in energy saving in municipalities requires TND 600 million and is likely to provide 60,000 tonnes oil equivalent (TEP). This would cut greenhouse gas emissions by 147,000 tonnes of CO2 equivalent.

The conference is organised by the National Agency for Energy Command (French: ANME), with the support of the Swiss State Secretariat for Economic Affairs (SECO).

Source: Agence Tunis Afrique Presse

Tunis: The Tunis Stock Exchange on Wednesday announced that it has obtained ISO 22301:2019 certification, the international reference standard for business continuity management.

“This achievement makes the Tunis Stock Exchange the first Tunisian company to be awarded this certification, testifying to its ongoing commitment to operational excellence and effective risk management,” reads a Tunis Stock Exchange press release.

This certification demonstrates the Tunis Stock Exchange’s ability to identify, analyse, assess and address potential risks that could disrupt its critical activities. It also highlights the implementation of a robust and effective business continuity management, enabling the Tunis Stock Exchange to maintain its essential operations in the event of a major incident.

“This international award is in line with the efforts made by the Tunis Stock Exchange to strengthen its corporate governance and adopt international best practices in risk management and business continuity.”

Tunis Stock E
xchange also announced the renewal of its ISO 27001 certification for information security management, and ISO 20000-1 certification for service management. These certifications further attest to the continued commitment to maintaining compliance with the highest and globally recognised standards.

With this triple certification, the Tunis Stock Exchange confirms its commitment to maintaining the highest levels of resiliency, operational excellence and service quality for its domestic and foreign partners and customers, the press release further reads.

Source: Agence Tunis Afrique Presse

Tunis: Tunisia needs TND 600 million to invest in energy transition projects in municipalities, according to the results of the Alliance of Local Councils for Energy Conservation programme, said National Agency for Energy Conservation (ANME) Director General Fathi Hanchi.

In a statement to the press on the fringes of the national conference on the role of local authorities in the implementation of the national energy transition strategy, held on Wednesday on the theme: Evaluation of the results of the national and comprehensive energy audit for the 350 Tunisian municipalities, he indicated that the audit operation is the first of its kind in the world.

It was conducted in cooperation with the Swiss State Secretariat for Economic Affairs.

The audit operation was conducted on the vehicle fleet, buildings and the public lighting network.

The adoption of energy-saving mechanisms will help save TND 150 million in a country that spends some TND 4 billion on energy subsidies every year.

The official pointed out
that the disclosure of the results of the energy audit operation during this conference aims to involve national structures as well as to inform financiers about the results and the possibility of investing in this sector.

The Alliance of Local Councils for Energy Conservation programme is based, among other things, on an inventory of municipal properties, as well as on land redevelopment, the transport fleet and public lighting, he pointed out.

Hanchi noted that a project is currently being negotiated with Italy to cover municipal buildings with solar panels, which will require funding of around 30 million dinars.

The national conference was organised by ANME, in partnership with the General Authority for Prospecting and Supporting Decentralisation and several other structures, with the support of the Swiss State Secretariat for Economic Affairs, Tunisian officials and representatives of the Switzerland’s economic development cooperation.

Source: Agence Tunis Afrique Presse

Tunis: Tunisian industrialists will shortly have an industrial site at their disposal in Niamey, Niger, to launch their projects, said President of the Tunisia-Niger economic interest grouping Karim Ben Farhat.

The site is expected to extend over 20 hectares, he further told TAP as a business mission got underway in Niamey on May 4-9. The announcement, he added, was made by Nigerien Trade and Industry Minister Seydou Asman.

The Nigerian minister agreed in principle when meeting on Tuesday with a number of Tunisian private entrepreneurs. This will signal the effective start of partnership and investment between the two countries, Ben Farhat said.

Several investment projects in a wide range of fields are due to be carried out, mainly in the hydraulics sector, the food sector and feedingstuffs.

The Nigerien minister also urged Tunisian investors to expedite the implementation of win-win partnership projects as part of their unwavering commitment to invest in Niger. Economic growth in Niger is expected to hit
an unprecendented level, he also said.

Nigerien Minister of Town Planning, Housing and Sanitation Salissou Sahirou Adamou also agreed in principle as he met with some Tunisian private entrepreneurs to granting a plot of land to Tunisian entrepreneurs participating currently in the business mission to build about 500 social housing units, in partnership with Nigerien government.

In another connection, Ben Farhat said Tunisian health professionals are keen to set up a diagnostic centre as well as private healthcare facilities in Niger.

Thirty-five Tunisian enterprises in various sectors of activity, mainly agriculture, energy, the telecom sector, health providers, pharmaceuticals, the digital industry and public works, attended the Tunisia-Niger Business Forum held on May 6 in Niamey, Ben Farhat said. The event saw the participation of 350 Nigerien business operators.

Head of the Exports Promotion Centre (French: CEPEX) sales representative office in Abidjan Noamen Hamdani told forum attendees about 60 ente
rprises (excluding the sector of services) are exporting their products to Niger but only five are exporting on a regular basis.

“These exports are mainly food products (couscous, flour) and products of mechanical and electrical engineering industries (cables and transformers),” he added.

Tunisian exports to Niger are still modest, notwithstanding existing opportunities, amounting to TND 20 million in 2023 against TND 45 million in 2021.

Niger’s imports in 2022 totalled nearly TND 10.191 million, including pasta products, biscuits, structures, iron works, medical and surgery equipment. Nigerien exports to Tunisia amounted to $31,000.

The business mission is organised by the Tunisian Confederation of Industry, Trade and Handicrafts (French: UTICA)’s Association of Export Advisers and the Economic Interest Grouping (Tunisia-Niger Development), in collaboration with the Niger Ministry of Trade and Industry.

It is designed to secure a better presence of Tunisian products in Niger and Nigerien products in Tun
isia and boost trade between the two countries.

Source: Agence Tunis Afrique Presse

Tunis: Public lighting accounts for 80% of total municipality energy consumption, President of the General Authority for Prospecting and Supporting Decentralisation (French: IGPAPD) Habib Khelifi said.

The audit showed over 730,000 lighting poles had been put in place, he added.

The results of the overall energy audit that covered 350 municipalities will help ease the energy subsidy burden in the State budget, the official told TAP on the sidlines of the National Conference on the Role of Local Authorities in the Implementation of the National Energy Transition Strategy.

Tunisia annualy earmarks nearly TND 4 billion for energy subsidies, he added. The achievement of energy-saving projects will impact the energy consumption cost.

Reducing the energy consumption cost will also have a positive impact on local, regional and national development.

Municipal energy assessment in Tunisia is the first step on the pathway to national energy mapping which determines energy intensive sectors.

There is need to condu
ct the audit operation in municipalties by State agencies and institutions so as to conduct an overall energy consumption diagnosis, he said.

There are trials for the use of renewable energies in buildings in almost 12 municipalities, in addition to a pilot experiment in electricity saving in public lighting in the municipalit of Chihia, Sfax.

This pilot experiment, which has yielded positive results, is based on the direct connection of the public lighting network to the Tunisian Electricity and Gas Company (French: STEG).

At the opening of the conference, which was attended by representatives of the Swiss Agency for Development and Cooperation (SDC), Khelifi also discussed the issue of undocumented migrants in Tunisia and the relevant European approach.

Director of Cooperation at the Swiss Embassy to Tunisia Fabrizio Poretti said his countrys is a partner of Tunisia and will continue to provide support. The Alliance of Local Councils for Energy Transition (French: ACTE) project is funded by the Swiss St
ate Secretariat for Economic Affairs (SECO).

The assessment presented at this conference, following the launch of the ACTE project five years ago, will lead to the development of a strategy in this field, he added.

Poretti said the introduction of energy-efficient equipment needs to go through the development of the capacities of 10 or 15 municipalities not by equipping these municipalities (350) with energy-saving equipment.

ACTE is consistent with Switzerland’s energy transition policy guidelines, he further said. Support lent to Tunisia in this area is the result of the presence of an incentive-based framework for energy transition.

Source: Agence Tunis Afrique Presse

The stock market ended the session on a slightly bearish note. The Tunindex fell by 0.01% to 9128.62 points.

Trading was modest at TND 3 million, reported stock market broker Tunisie Valeurs.

SOTIPAPIER was the best performer of the session. The paper manufacturer’s shares rose by 5.9% to TND 4.830 on a turnover of TND 107,000

SOTETEL shares also ended the session in positive territory. The telecom specialist’s shares rose by 3.2% to TND 5.770. The stock traded for TND 244,000 during the session.

BIAT was the most dynamic stock during the session. The private bank’s stock mobilised a volume of TND 370,000, representing 12% of the flow on the stock exchange. The BIAT group increased its net profit by 14.8% to TND 358.6 million.

MONOPRIX shares suffered the biggest correction of the session. Shares in the supermarket specialist fell by 4.1% to TND 4.650.

Trading was very limited at TND 4,000. MONOPRIX shares have underperformed by 9.5% since the beginning of the year. The board of directors of SNMVT-MONOP
RIX, which met on Monday, April, 29, announced an individual net profit of TND 5.8 million and a consolidated net profit (group share) of TND 1 million

SAM shares also ended the session on the wrong foot. A victim of profit-taking, the office furniture specialist’s share price fell 1.7% to TND 5.700.

The stock provided the market with TND 130,000 of capital.

For 2023, the company announced a 47% increase in net profit to TND 4.4 million. SAM’s Board of Directors has decided to propose to the Annual General Meeting the payment of a dividend of TND 0.460 per share.

Source: Agence Tunis Afrique Presse

Kairouan: Construction of the 100MW Sbikha solar photovoltaic (PV) plant in Kairouan began on Wednesday

“Once operational, this renewable energy plant will reduce the cost of producing electricity from natural gas by about TND 50 million per year and create more than 40 jobs ,” said Wael Chouchene, Secretary of State to the Minister of Industry in charge of Energy Transition.

Chouchene, who was joined by the Minister of Industry, Energy and Mines and the Ambassador of the United Arab Emirates to Tunis for the launch of the project, told TAP the project, which will cost around TND 300 million, is a landmark project in terms of increasing the share of renewable energy in the energy mix and reducing dependence on fossil fuels.

It will promote sustainable development, encourage local investment and create new employment opportunities in engineering, construction and maintenance, he added.

The tender for the Sbikha solar plant project, launched by the Ministry of Industry, Energy and Mines in 2019, was won by
Emirati Company AMEA POWER, which implements alternative and renewable energy projects in 20 countries around the world.

The aim of the 200-hectare plant is to diversify energy sources through the use of clean energy and to strengthen Tunisia’s energy transition.

This is the first project in a series of renewable energy initiatives with a total capacity of 500 MW.

The projects will be implemented in 5 governorates of the country: Tataouine (200 MW), Tozeur (50 MW), Sidi Bouzid (50 MW), Kairouan (100 MW) and Gafsa (100 MW).

Speaking at the event, Hussain Al Nowais, Chairman of AMEA POWER, said that the project, which is co-funded by the African Development Bank (AfDB) and the International Finance Corporation (IFS), falls within the framework of investments in renewable and green energy.

Work on the project will take 18 months and the plant will be operational by 2025, he said.

Tunisia’s national energy strategy aims to achieve a 35% share of renewable energy in the electricity mix by 2030.

To achieve t
his goal, several alternative energy projects need to be implemented, the level of energy independence has to be improved, energy sources for electricity production need to be diversified and the cost of subsidies for the development of the green economy has to be reduced.

Source: Agence Tunis Afrique Presse

Tunis: Tunisia can benefit from expanding renewable energy production which would extend to the whole of economy, with significant 1.1% to 1.75% gains in terms of economic growth by 2030, based on different scenarios for the development of renewable energy production in the country, reads a World Bank (WB) report.

The report reviews in detail the current economic challenges and opportunities in Tunisia with a special focus on the ambitious renewable energy development programme.

According to the report a deep decarbonisation scenario is particularly beneficial for the economy in the short term, as end-user sectors are likely to benefit from strengthened decarbonisation policies, resulting in lower energy costs. Although all sectors benefit, industry and agriculture fare particularly well, given their greater energy dependence compared with services.

Public debt rises in all scenarios, but not significantly as most decarbonisation investments are expected to carried out by the private sector. The bulk of th
ese investments are expected to be covered by the private sector given the significant cost advantage of renewables over fossil fuel in Tunisia. “However, an adequate regulatory framework should be in place to favor such investments,” the WB added.

These investment needs are estimated at around US$ 27-35 billion by 2050.

Although the Tunisian government has begun to undertake regulatory reforms to improve the performance of the country’s electricity sector and the attractiveness of the renewable energy programme to private investors, the WB said that it is crucial to accelerate these efforts in order to achieve the ambitious renewable energy targets and reap the resulting economic benefits.

This would require a number of measures, including strengthening coordination between the various parties involved in the projects, and monitoring and speeding up the implementation of ongoing programmes, which is important for the country’s credibility and for strengthening governance in the renewable energy sector.

T
here is also need to simplify procedures for access to land, speeding up the setting up of an independent regulatory authority to reassure investors and guarantee transparent and fair access to the network, as well as modernising the Tunisian Electricity and Gas Company (STEG) and restoring its financial viability.

Source: Agence Tunis Afrique Presse

Tunis: The weather on Wednesday night will be marked by occasionally dense clouds in most regions, accompanied by some rain in the north and the eastern coastal areas, according to the National Institute of Meteorology (INM).

Winds will blow from the north, relatively strong, locally very strong near the eastern coasts and heights, and light to moderate elsewhere.

Temperatures at night will range between 14 and 18°C, dropping to around 10°C in heights.

Source: Agence Tunis Afrique Presse

Tunis: Tunisia’s growth forecasts for 2024-2026 are subject to significant downside risks. These forecasts would be even lower if the country does not implement “decisive” fiscal and “procompetition’ reforms and/or if available financing is insufficient to cover its external needs, said the World Bank (WB).

Growth is expected to reach 2.4% in 2024 and 2.3% in 2025-2026, assuming a moderation of the ongoing drought and slightly more benign financing conditions, the World Bank said in a report.

If these reforms do not materialise, it could be difficult to secure enough foreign exchange for the economy, the bank said. This could lead to pressure on exchange rates and prices, with negative effects on economic activity and employment.

In addition, if the drought persists, projections could be revised downwards, given the negative impact on agriculture and the trade balance.

With regard to Tunisia’s public finances and external balance, ‘they will remain fragile in the absence of sufficient external financing’,
notes the international financial institution, adding that ‘the fiscal deficit is expected to narrow somewhat, reaching 6.1% of GDP in 2024’.

According to the bank, this is mainly due to a decline in subsidies and the wage bill in real terms, as well as a moderate increase in tax revenues.

As for the current account deficit, ‘it should remain stable at 2.4% of GDP in 2024, with continued growth in travel exports and stable terms of trade’. Foreign borrowing should continue to finance the current account deficit, with stable foreign direct investment and very low portfolio investment.

For the World Bank, financing the deficits will require a significant increase in external financing, given the ‘heavy’ external debt reimbursement schedule.

Limited access to foreign capital markets

Despite the reduction in deficits, gross financing needs are expected to increase further, at 16.1 percent of GDP in 2024 (from 13.8 percent in 2023) due to significant external debt service.

In fact, almost Two thirds of the f
inancing is expected to be amortization. ‘This also increases Tunisia’s dependence on external sources of financing, which are expected to account for about 57 per cent of total financing,’ the report said.

With FDI stable and portfolio investment minimal, government borrowing is expected to continue to cover external financing needs”, while “Tunisia still has limited ability to tap into foreign capital markets.’

If the pace of reform and the level of financing are adequate, the WB predicts sustained growth in the medium term and some stabilisation of macroeconomic and fiscal imbalances. However, these medium-term prospects are conditional on the continuation of an ambitious pace of reform, sufficient financing and stable international energy prices, especially oil.

Source: Agence Tunis Afrique Presse

Tunis: An agreement for the construction of two photovoltaic solar power plants in the governorates of Gafsa and Tataouine was signed Wednesday at the Government Palace in Kasbah.

At an estimated cost of 800 million dinars and with a capacity of 300 megawatts, these two plants, will be built under concession.

The agreement was signed by Minister of Industry, Energy and Mines, Fatma Thabet, Minister of State Property and Land Affairs, Mohamed Rekik, the CEO of STEG, Faycel Trifa, and an Emirati and a French investor.

The project is part of a call for tenders for the development of renewable energy generation projects, with a first batch of projects targeting the production of 500 MW of photovoltaic energy.

At the signing ceremony, Wael Chouchane, Secretary of State to the Minister of Industry, Mines and Energy, in charge of energy transition, said the Gafsa plant will have a production capacity of 100 MW and the Tataouine plant will have a capacity of 200 MW. These two plants will create 100 jobs.

He anno
unced that construction would begin in 2025 and production would start in 2026.

He went on to say that these projects represent a major step forward in Tunisia’s energy transition, adding that they will help reduce the need to import natural gas and guarantee the country’s energy security.

The foundation stone for the photovoltaic power plant was laid in the El Metbasta region (Kairouan governorate). It will have a capacity of 100 MW (under the concession system).

The secretary of state said this project is part of the first phase of the renewable energy programme, which has approved five projects with a capacity of 500 MW in five governorates.

Chouchane said that these projects would reduce the cost of producing and selling electricity by a third compared to the cost of producing electricity using natural gas.

He added that these projects would have a positive impact on several regions, such as Kairouan, Gafsa and Tataouine, and announced that other projects would soon be implemented in the governorates
of Gafsa and Tozeur at a total cost of 300 million dinars.

The Secretary of State announced that the government intends to launch a series of projects and tenders between 2024 and 2025 with a production capacity of 1,700 MW.

CEO of STEG, Faisal Trifa, said that these projects would reduce the deficit in the trade and energy balance.

The Chief of Staff of the Prime Minister, Samia Charfi, stressed the importance of this project, which aims to diversify energy sources by using clean energy and photovoltaic technologies to ensure Tunisia’s energy transition.

She also reaffirmed that Tunisia’s ambition, through the implementation of alternative energy projects, is to improve its energy independence, diversify the energy mix used to produce electricity and control the energy compensation budget, in addition to developing the green economy and contributing to the global effort to reduce gas emissions.

The National Energy Strategy has set the target of achieving 35% of electricity production from renewable sour
ces by 2030.

Source: Agence Tunis Afrique Presse

Tunis: Director General of the Water Research and Technologies Centre (French: CERTE) in Borj Cedria, Hakim Gabtni, on Wednesday, stressed the importance of building underground dams to retain rainwater, which is expected to decrease by between 14% and 25% by 2025 due to rising temperatures.

Speaking at the opening of the Water Expo, Gabtni said the construction of these dams would help reduce the evaporation of rainwater stored in surface dams and mountain lakes due to rising temperatures.

This would help combat water stress, he said, highlighting the need to think about scientific solutions that can meet the specific needs of each region. For example, ‘it would be wise to build underground dams in the north to collect rainwater and desalination plants in coastal regions.’

He also called for an end to the over-exploitation of groundwater (75% of which is used) and for groundwater to be given the time it needs to replenish itself, suggesting the possibility of using surface water to replenish highly saline
aquifers.

Hakim Gabtni also said that the Centre is currently working on the installation of wastewater treatment plants using plants, stressing that this is a low-energy technique.

He also pointed out that the wastewater utilisation rate does not exceed 8%, while the treated volumes amount to 300 million m3, i.e. 1/3 of the input from dams.

He added that the Centre had begun to implement this experiment in agricultural projects and estimated that the amount of treated water should reach 0.6 billion m3 by 2050.

Gabtni stressed the importance of presenting these various solutions at the next United Nations Climate Change Conference in order to mobilise the necessary funds to put them into practice and thus enable Tunisia to adapt to climate change.

Source: Agence Tunis Afrique Presse