Day: January 30, 2024

Nizar Ben Neji, Minister of Communication Technologies said that draft law No.2024-6 on Tunisia's accession to the Council of Europe's Budapest Convention on cybercrime, falls under the national cyber security strategy. The Budapest Convention is the international reference framework for combating IT and communication crimes, he added at a meeting held Monday by the general legislation committee. Tunisia's accession to this convention mainly aims to support international efforts to combat IT and communication crimes, given its cross-border aspect and its compatibility with national legislation, he indicated. It also aims to unify member countries' criminal law policies on cybercrime and to establish procedural rules for international cooperation, characterised by speed, efficiency and precision, he added. The minister further reviewed Tunisia's accession process, indicating that the accession procedure is due to be completed before February 7. Members of the committee focused in their speeches mainly on the lack of a clear definition of cybercrime in the Convention and the contribution of accession to the Convention to reducing or eradicating e-crime, according to an Assembly of People's Representatives (ARP) press release published Tuesday. The Budapest Convention's compliance with some provisions of decree-law No. 2022-54 on combating offences related to information and communication systems was also discussed. The minister said the Budapest Convention is a cooperation convention aimed at protecting against cybercrime by adopting appropriate legislation and supporting international cooperation through diplomatic relations. Source: Agence Tunis Afrique Presse

The total turnover of "Les Ciments de Bizerte" at the end of December 2023 fell by 32.56% (or TND 9.7 dinars), according to the company's business indicators for the fourth quarter of 2023 published on Tuesday by the Tunis Stock Exchange. During the same period, the company's local turnover fell by 34.29% compared to the same period in 2022, reaching TND 19.599 million in 2023. Similarly, the demand for binders in the local market continued to decline, both for the sector as a whole and for the company. "In fact, 2023 saw the lowest level of binder consumption (cement and lime sales) since 1999, with sector-wide sales at 4.978 million tonnes, well below the installed capacity of 12.5 million tonnes," the company explained. This fall in national demand for binders was mainly due to the recession in the construction sector, which hit the building industry following the rise in property prices and the public works sector, characterised by the absence of major engineering and construction projects, the drough t and overcapacity in cement production, combined with a sharp fall in national demand for binders. The decline in Ciments de Bizerte's total sales is part of the downward trend in the Tunisian cement sector as a whole, with volumes sold down by 10.03% compared to 2022. In addition, the breakdown of the mobile bridge at Bizerte affected the company's need to import petroleum coke, the only source of thermal energy for clinker production. This also led to a production stoppage in the fourth quarter of 2023 due to the lack of visibility regarding the return to normalcy of the Bizerte bridge. Regarding the outlook for Q1 2024, Ciments de Bizerte's main objectives are to increase clinker and cement production to meet demand, control production and distribution costs and improve its share of the local market. The company also plans to carry out the planned hiring to promote the human factor, diversify its export customers and seek new customers, particularly in Libya, and make the quayside facilities profitab le by exporting clinker and cement in bulk. Les Ciments de Bizerte" is a public company in the form of a limited company with a share capital of TND 14,598,283,000, in which the State holds 99.52% of the shares and the private sector 0.48%. In 2002 its capital was increased to TND 35,237,833,324 to meet the costs of its modernisation programme, which will consolidate its strategic position in the rapidly changing national binder sector. Source: Agence Tunis Afrique Presse

The Steering Committee for the Parallel Sector Integration Programme held its first meeting on Monday. The meeting was dedicated to developing a roadmap for the Steering Committee to find ways to integrate the parallel sector into the organised economy and generate additional revenue for the treasury. Speaking at the meeting, Finance Minister Sihem Boughdiri Nemsia has called on the various technical departments to find practical solutions to the phenomenon of the parallel sector as part of a global vision targeting the various ministries and structures concerned to examine procedural issues related to development, security, education and health. Nemsia stressed the importance of continuous coordination and data exchange between the various parties in order to ensure the necessary effectiveness of the committee's work, according to a press release issued by the Ministry of Finance. She pointed to the resurgence of this phenomenon despite the efforts made to combat tax evasion and parallel trade, stressin g that the integration of the parallel sector is part of a policy of self-reliance and is a priority in the government's 2024 programme. Source: Agence Tunis Afrique Presse

The Assembly of People's Representatives (ARP) passed at a plenary session Tuesday the draft law approving the guarantee agreement signed on June 22, 2023 between Tunisia and the International Bank for Reconstruction and Development (IBRD) on a loan granted to the Tunisian Electricity and Gas Company (STEG), by 109 votes in favour, 4 abstentions and 3 votes against. The loan is a contribution to financing the Tunisia-Italy power interconnector ELMED. Minister of the Economy and Planning, Feryel Ouerghi, in response to questions from MPs, said the electricity interconnection project between Tunisia and Italy and the development of the renewable energy system would enable the country to benefit from renewable energy projects and attract investors wishing to export their production. It will also reduce the burden of hydrocarbon subsidies, which amounted to almost 7,650 million dinars in 2020, and create jobs for Tunisian specialists and university graduates. Ouerghi highlighted the lack of diversification i n Tunisia's energy mix, which is dominated by natural gas, which accounts for 97% of electricity consumption. The minister said this situation poses a threat to the security of electricity production, as the country's natural gas resources can only cover 1/3 of national needs, with the rest being imported from Algeria. She pointed out that the request for this loan was prompted by STEG's inability to make its contribution, estimated at pound 582 million, to the financing of the ELMED project, the total cost of which is estimated at pound 1,014 million. While stressing that the components of the project had not been modified, the Minister explained that the loan would be used mainly for the construction of the project's power conversion station in Tunisia. She pointed out that the electricity interconnection between Tunisia and Italy will help to obtain energy in the summer (peak hours) and export surplus energy to Europe in the winter, which will generate profits for STEG. Ouerghi said Tunisia's primary energy demand has increased by more than 2% per year (between 2010 and 2022), from 8.4 million tonnes of oil equivalent (Mtoe) to 9.7 Mtoe. It noted a decline in primary energy resources of around 7% per year for the period 2010-2022, from 7.8 Mtoe to 4.2 Mtoe. Regarding Tunisia's energy deficit, she pointed out that it has increased tenfold, reaching 5.5 Mtoe in 2022, compared to 0.6 Mtoe in 2010, which explains why the country is relying on imports to meet its basic energy needs. Source: Agence Tunis Afrique Presse

The average price of flats saw a 9% rise in 2023 compared to 2022, reads a retrospective study on "Real Estate Trends in Tunisia: 2023 Annual report and 2024 Perspectives" presented Tuesday in Tunis by Director of online platform Mubawab Anis Gharbi. Based on data collected by Mubawab between January and December 2023, 53% of demand through advertisements for real estate published on mubawab.tn are for purchase, including 54% for flats, 15% for villas, 13% for plots of land and 2% for offices. Size for sought flats varies between (100m²-130 m²) and (130m²-170m²), corresponding to 2-bedroom and 3-bedroom flats. These apartments top demand and offer, followed by one-bedroom flats, reflecting a growing preference for practical and compact layouts. The average rental prices of flats in Tunisia also grew 11% in 2023 compared with 2022. Size wise, the most popular on the Tunisian rental market, ranges between 100m² and 130m², accounting for 36% of demand. Two-bedroom flats are the most-sought after with 41%. The same trend is observed in offer with 39% of listings offering two-bedroom flats. The average rental price/m² of office spaces edged up 15% in 2023 compared to 2022. However, demand for residential land fell slightly in 2023. Les Jardins de Carthage district reports the highest prices averaging 2,800 thousand dinars/m², a high-end real estate market in this district, followed by El Menzah 9C (TND1.250 thousand/m²) and Jardins d'El Menzeh 2 (TND1.1 thousand/m²). Real estate in Tunisia has attracted significant interest mainly from Tunisians lving abroad, with France in the lead as regards foreign demand for flats (44%), villas (47%) and land (47%). Germany ranks second (9% for flats, 8% for villas and land), followed by Italy and Middle East countries, notably Qatar, Saudi Arabia and the United Arab Emirates. This upward trend in prices would continue in 2024, Gharbi said. The postponement of the VAT increase is an opportunity for both buyers and property developers". The main challenges facing the rea l estate sector in 2024 are mainly making relevant data more accessible, tackle the scarcity of property, curb speculation on land and optimise offer. The State is urged to eass administrative procedures, particularly for Tunisian expatriates and encourage sustainable construction and low-carbon solutions through the introduction of new laws, he added. "Despite a difficult national economic context marked by soaring inflation and a still-on- the rise average money market rate (MMR) and an expected increase in real estate tax in 2025 under the next Finance Law, investment in the sector remains a source of stability for both individuals and professionals," he said Source: Agence Tunis Afrique Presse