Day: February 6, 2024

The plenary session of the Assembly of People's Representatives (ARP) on Tuesday is considering a draft organic law on Tunisia's accession to the Council of Europe's Convention on Cybercrime, the "Budapest Convention 2001," which provides an opportunity for Tunisia to contribute to the international effort to combat cross-border ICT-related crime. The reason for presenting the bill to the plenary session is to underline Tunisia's efforts to draw up legal frameworks covering cybercrime, by incorporating this phenomenon into the Penal Code since 1999 and avoiding loopholes by promulgating Decree No. 54 of 2022 on combating offences related to information and communication systems. The explanatory document states that "Decree No. 54 of 2022 is in line with international legal developments in this field since the adoption of the Council of Europe Convention on Cybercrime," namely the Budapest Convention of 2001, to which many States around the world have acceded. The Convention will help Tunisia's legal system and national structures involved in combating crimes related to information and communication systems to make the most of the legal procedures approved by the Treaty, notably as regards information sharing between member states. The ARP's General Legislation Committee examined the bill on January 25, 2024. The committee heard on January 29, Minister of Information and Communication Technologies Nizar Ben Neji as well as representatives of the Ministries of Foreign Affairs and the Interior. Ben Neji told the committee that "cybercrime is a cross-continental crime" and that Tunisia's accession to this Convention is part of the National Strategy on Cyber Security, which aims to support international efforts in this field. Source: Agence Tunis Afrique Presse

The 3rd Tunisia Africa Business Meetings (TABM) will be organised on July 2-3, 2024, at the initiative of the Export Promotion Centre (CEPEX) and in cooperation with the German International Cooperation Agency (GIZ), CEPEX CEO Mourad Ben Hassine told a press conference in Tunis on Tuesday. As part of the support for exports to sub-Saharan African countries, this event aims to steer Tunisian exporting companies more towards African markets and to endeavour to better step up trade with sub-Saharan African countries. This year, almost 2,000 business meetings will be organised, with the participation of 300 Tunisian exporting companies (compared to 200 during the previous edition) and 150 African companies (compared to 80 during the 3rd edition), from 25 African countries, explained Ben Hassine. These companies operate in nine growth sectors: Agri-food, construction, mechanical and electrical engineering, textiles and clothing, pharmaceuticals, public works, health services, education, training and information technology. Taking the floor, Project Manager for the Promotion of Export Activities to New Markets in Sub-Saharan Africa (PEMA II) at GIZ Lisa Menucha pointed out that the 2022 event had been a success, based on an evaluation carried out among participants. According to this evaluation, 67% of African companies out of a total of 84 had signed business contracts with Tunisian companies, she said. CEPEX intends to organise 74 promotional activities in 2024 With regard to CEPEX's 2024 export agenda, Ben Hassine underlined that 74 promotional activities will be organised, divided between the organisation of Tunisian participation in trade fairs and shows abroad, delegations of businessmen and professional meetings, as well as prospecting missions and visits by importers to Tunisia. The 2024 programme includes the organisation of 29 trade events abroad and 45 promotional operations targeting foreign markets. A total of 560 companies are expected to take part in this year's promotional activities, targeting 25 markets in Africa (9), the Arab countries (7) and Europe (8). Six new destinations will be introduced in 2024: the Sultanate of Oman, Burkina Faso, Uganda, Guinea, Senegal and Canada. In 2023, merchandise export revenues reached almost TND 62 billion, up by TND 4.5 billion (7.9%) on 2022. The increase in revenue from exports of goods, at a faster rate than imports, will reduce the trade deficit by TND 8.1 billion, to TND 17 billion in 2023, and improve the rate of coverage of imports by exports to 8.9%. Export revenues from the other export sectors, excluding revenues from energy and lubricating oils, as well as mining, phosphate and its derivatives, rose by 12.5% to TND 55.6 billion. Source: Agence Tunis Afrique Presse

It is imperative to abandon fragmented sectoral development interventions and adopt integrated and sustainable management of resources (water, energy and food), taking into account the interdependence between these various ecosystems, in order to achieve sustainable development that is resilient to the various threats, notably climate change, according to a thematic session on the Water-Energy-Food-Environment Nexus WEFE, organised on Tuesday in Tunis as part of the 5th Mediterranean Water Forum. Taking the floor, Chairman of the Global Water Partnership-Mediterranean (GWP-MED) Michael Scoullos called on this occasion for an international and regional paradigm shift towards sustainable food systems that adopt the WEFE Nexus approach, devised by the UN Food and Agriculture Organisation (FAO). Under this approach, water, energy, food and ecosystem are no longer considered as seperated and isolated elements, but rather as interconnected componenets. The water is necessary to produce food and energy, while ener gy is necessary for storing and distributing food and extracting, transporting and treating water. All these components need to be preserved through a cross-functional approach based on rational resource management. Scoullos considers that sector-based approaches are no longer sufficient to meet challenges like water scarcity, biodiversity loss, food and energy security and social inclusion, which can only be solved through a clear understanding of the interconnections and meaningful trade-offs between water, energy, food and ecosystem sectors. The official further indicated that the WEFE Nexus approach is crucial to achieve the transition to a green economy and a sustainable development at the countries' level and it can also encourage climate resilience on a Mediterranean scale, through integrated practices for the security of natural resources. He pointed out in this regard, to the need for a high-level political will to implement such approach, supported by a system of cross-sector governance involvin g all stakeholders, including the private sector. He also sees that technological innovation and nature-based solutions can support such an approach and minimise the costs of sustainable management and that there is also need for financial innovation to set up the necessary funding mechanisms for the Nexus WEFE's solutions. Taking part in the debate, representative of the Ministry of the Environment Hedi Chebili underlined the importance of such a multidisciplinary approach which, through the interconnections it establishes between various resources, helps to make ecosystems more resilient to current climatic, demographic and urban changes. He pointed to the need for a better understanding of the situation in order to identify needs and implement appropriate actions, specifying in this regard that the National Strategy for Ecological Transition devised by the Ministry reserves its axis 3 for the preservation of ecosystems and the reinforcement of interactions between their various components. Taking the f loor, representative of the Société Nationale d'Exploitation et de Distribution des Eaux (SONEDE) Imed Ben Lili affirmed that SONEDE undertakes thourgh its infrastructure projects, notably those related to seawater desalination, to adopt an approach that combines different resources, notably water and energy, adding that the goal in the future is to further develop the use of renewables under these projects. SONEDE is also open to all aproaches establishing effective interconnections and interactions between water, energy and food resources, and encouraging green and blue economies and sustainable development. In order to implement such approach, Ben Lili said there is need to avoid isolated approaches, establish coordination mechanisms between the various stakeholders (interministerial committees, etc.), collect all the necessary data and analyse it using ICT and artificial intelligence, draw up integrated master plans, provide training and raise the necessary funding. The 5th Mediterranean Water Forum is held in Tunis on February 5-7, at the initiative of SONEDE, the Institut Méditerranéen de l'Eau (IME) and the Union for the Mediterranean (UfM). Source: Agence Tunis Afrique Presse

Tunindex cloed Tuesday's session down 0.1% to 8,353.4 points, according to broker Tunisie valeurs. Trading was low over the session standing at only TND 2.8 million, due to the lack of block trades. Ennakl Automobiles shares took the top spot after rising by 6% to TND 11.7 with a low trading volume of only TND 1 thousand. City Cars shares were the star of this session. The shares' price rose by 2.1% to TND 12.4, feeding the market with a capital of TND 549 thousand. OfficePlast shares were among the biggest losers of this session. Without being traded, the shares' price fell by 4.2% to TND 1.140. BH shares also dropped by 1.7µ to TND 10.5, trading for TND 15 thousand. Source: Agence Tunis Afrique Presse

Members of the Assembly of People's Representatives (ARP) adopted at a plenary session on Tuesday evening the draw law that exceptionally authorises the BCT to grant facilities worth TND 7 billion to the General Treasury of Tunisia. The new law was adopted with 92 votes in favour, 15 against and 26 abstentions. Responding to MPs, Finance Minister Sihem Boughdiri Nemsia said "the bill will allow the government to raise the necessary funds to meet the urgent financial needs of the state". She pointed out that the financing needs for the first quarter of 2024 alone amount to TND 15.6 billion, which will be used in particular for the repayment of domestic and foreign debt (7 billion dinars), the payment of salaries (TND 2.7 billion), investments (TND 1 billion), the financing of expenditures of public enterprises (TND 1.8 billion) and hydrocarbon subsidies (TND 1 billion). She added that the State's own resources are not sufficient to cover all these expenditures, which is why it is necessary to have recourse to the BCT on an exceptional basis to cover these needs, part of which will be used to stimulate investment and economic growth. Nemsia also reassured her audience that this measure would not have a major impact on inflation, money supply or the exchange rate, as the amount recovered by the BCT would not only be used to finance consumer spending, but also to boost investment and wealth creation in the country. For the Finance Minister, the amount of these facilities has been carefully studied so that it will have only a relative impact on inflation and will in no way contribute to an increase in the money supply. Unlike the facilities granted by the BCT in 2020, those granted this year will be used in part to finance investment and development, in addition to the repayment of the 3-billion-dinar bond loan contracted in 2017, as part of the continuity of the state, she said. «Tunisia has never been late in repaying its debts and any rescheduling would be a form of recognition of the difficulties that may u ndermine the country's image and credibility,» she added. Despite criticism and attempts to cast doubt on the country's ability to repay its debts in 2023, the government has honoured all its commitments in this area, while working to reduce the trade deficit and consolidate public enterprises, prompting the IMF Managing Director and a senior European Commission official to welcome the resilience of the Tunisian economy. Source: Agence Tunis Afrique Presse

The Central Bank of Tunisia (BCT) announced on Tuesday that it had joined the Pan-African Payment and Settlement System (PAPSS). Launched by Afreximbank, PAPSS enables the efficient flow of money securely across African borders, minimising risk and contributing to financial integration across the regions. Created since January 2022 under the African Continental Free Trade Area (AfCFTA), of which Tunisia has been a member since July 2020, the PAPSS network currently has 108 participants, including 12 central banks and 96 African commercial banks, reads a BCT press release. The BCT joined this payment system under an agreement inked on Tuesday by BCT Governor Marouane El Abassi, in the presence of Trade and Export Development Minister Kalthoum Ben Rejeb, Afreximbank Executive Vice President Georges Elombi and PAPSS CEO Mike Ogbalu III. On this occasion, El Abassi pointed out that joining the PAPSS reflects the BCT's commitment to Tunisia's strategic priorities for regional integration on the African contine nt at the economic and financial levels. "This initiative supports and crowns the government's efforts, under the aegis of the Trade Ministry so as to make Tunisia's integration into the AfCFTA a reality," he added. El Abassi further indicated that after joining the pan-Arab multi-currency payment platform (BUNA) early 2022, the BCT is continuing its commitment to Tunisia's strategic priorities, especially regional integration in economic and financial matters, by joining the PAPSS. In this respect, he urged the banks and the post office to join this fast, secure and less costly alternative mechanism to provide the best possible support for Tunisian economic operators in their economic and financial transactions on the African continent. According to him, the goal is to pave the way for Tunisia to create a new commercial momentum with Africa and expand the spectrum of opportunities with this high-potential trading area. For her part, Ben Rejeb highlighted the importance of joining such a platform, which will help promote integration into the formal sector and boost intra-African exports, while cutting transaction costs and reducing processing times. Taking the floor, PAPSS CEO welcomed the BCT's accession to the PAPSS, indicating that this is a historic event marking the very first accession of a North African central bank to this system and the consolidation of the relationship between Afreximbank and Tunisia. He further pointed to the importance of this step, which will undoubtedly help improve cross-border payments between Tunisia and the rest of Africa. The official went on saying that he is "confident" that the BCT's accession would bear fruit and lead to concrete advances for trade and economic growth in Africa. Source: Agence Tunis Afrique Presse

A ministerial working session held Tuesday afternoon at the Government Palace in the Kasbah examined the various aspects of the business plan proposed to relaunch the activities of the Société Générale d'Entreprise de Matériel et de Travaux (SOMATRA-GET). Chaired by Prime Minister Ahmed Hachani, the meeting was briefed about the resumption of activities by the company, which has started work on the mega-projects that were blocked after the last working session. The meeting provided an opportunity to examine the various proposals and alternatives put forward in the company's draft business plan, with a view to maintaining its activity and thus its strategic role in the construction and public works sector. The representatives of the banking sector were unanimous in stressing the need to ensure the long-term survival of Somatra-GET, given its major contribution to the completion of public works. They expressed their willingness to provide the necessary support as part of a collective national effort to enab le the company to successfully fulfil its mission. The meeting was attended by the Ministers of Economy and Planning, Public Works and Housing, Social Affairs, Agriculture, Water and Fisheries, as well as the Ministers of Health and Transport and the President of the Banking and Finance Council (CBF). Source: Agence Tunis Afrique Presse