Tunisian olive oil producer CHO company clinches US$26m financing, management support from IFC

TUNISIA – One of Tunisia’s largest olive oil producers, CHO Company, has been offered a financing and advisory services package by World Bank Group’s IFC, to enable its scale up its operations. IFC has indicated that it will provide €22 million in financing with an eight-year tenor to its Tunisian partner since 2015. CHO will use the funds as working capital and to invest in new equipment, strengthen linkages with farmers and create new jobs in an economy that is recovering from the effects of COVID-19. Besides financing, IFC will…

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IFC, FMO to back Tunisian olive oil producer CHO Company with US$14m financing

TUNISIA – One of Tunisia’s largest olive oil producers, CHO Company is eyeing €12 million (US$14.4m) long-term financing facility from the International Finance Corporation (IFC)and Dutch development finance institution FMO. The proposed debt will finance the company’s permanent working capital and capital expenditures to support its strategy to increase its sales of bottled olive oil. “CHO’s overall goals through this project are its contribution to preserving linkages with farmers, maintaining jobs, and domestic value addition,” indicates FMO. The project’s contribution to market resilience will be through building capacity along the…

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Tunisia to continue relying on grain imports to meet growing demand

TUNISIA – Favourable weather conditions are expected to boost production of grains in Tunisia to 1.2 million metric tonnes (MT) of wheat and 650, 000 MT of barley in the Market Year (MY) 2021/22. This is a rise from MY 2020/21 production estimates of 1.04 MMT for wheat and 465,000 MT for barley. According to a GAIN report prepared by USDA Foreign Agricultural Services, ample rainfall and good soil moisture encouraged farmers to seed larger areas in October to December 2020. The seeded area for wheat increased from 556,000 HA…

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Tunisia promotes sustainable fisheries with deployment of satellite monitoring system

TUNISIA – Tunisia has deployed a satellite monitoring system of fishing vessels, in a bid to optimise the safety of fishermen and their vessels and combat illegal fishing which threatens seafood wealth and the sustainability of the sector. The system is based on three complementary components, namely a central computer system at the Ministry of Agriculture, 50 central and local control rooms and terminals ensuring the transmission of data relating to the location and activities of vessels while guaranteeing confidentiality. It will also provide a database for scientific research programmes…

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Agritech startup MooMe secures investment from Maxula seed fund to support cattle farmers

TUNISIA – Maxula Gestion, a manager and distributor of the Startup Maxula Seed Fund, has announced a new investment in Startup MooMe, a decision-making system for farmers. With this investment, MooMe will create synergies with the company Nour Agricole specializing in the manufacture of cattle feed, in order to support thousands of cattle breeders and also help veterinarians to better manage their projects. Startup Maxula Seed Fund, to which the insurance company MAE (Mutuelle Assurance de l’Enseignement) and the Arab Tunisian Bank (ATB) are subscribed, mainly intervenes to help promoters…

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Tunisia secures US$98m loan from Kuwaiti fund for drinking water projects

TUNISIA – The Kuwait Fund for Arab Economic Development (KFAED) has provided a loan of US$98.5 million (263 million Tunisian dinars) to Tunisia for drinking water projects in urban areas. This is an additional financing the country’s National Company for the Exploitation and Distribution of Water (SONEDE) has received from KFAED. The funds handed over to the Tunisian government on 29 December 2020 represents the fourth tranche of a total amount of US$500 million pledged by the State of Kuwait at the international investment conference “Tunisia 2020”. Its objective is…

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Tunisian aquaculture company STEP seeks US$7 million funding to bolster growth

TUNISIA – Société Tunisienne d’Elevage de Poissons (STEP), a modern aquaculture firm in Tunisia located at the coastal town of Bekalta, along the Mediterranean Sea is seeking to raise a minimum of US$7 million from an un-named investor to finance its ambitious development programme. According to reports by, Africa Private Equity News, STEP which was established in 2013 specialises in the breeding of sea bream and sea bass, with an annual production capacity of 2,500 tonnes. The company’s open-sea fish farm is located 5.5km south-east from Bekalta harbour. The Farm…

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Somipem Tunisia based caps maker gets backing from Ekuity Capital, UGFS North-Africa

TUNISIA – Tunisian caps and closure manufacturer, Somipem has closed its second round of private equity financing from investment firm Ekuity Capital and asset manager United Gulf Financial Services-North Africa (UGFS North-Africa). This new round of funding which is aimed to finance the company’s expansion within its borders and across the region, saw the two partners acquire an undisclosed amount of shares in the company. To this end, Somipem’s former institutional shareholders Sodino, Univers Invest Sicar and CDC Gestion, who supported the company during its first phase of creation and…

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Flavour and Fragrance company Iberchem Group opens new production facility in Tunisia

TUNISIA – Spanish flavour and fragrance company, Iberchem Group has opened a new production center in Tunisia under its flavour division known as Scentium. The new facility, located at the country’s capital Tunis, covers nearly 700 square metres and is fully equipped for the production of liquid and powder flavours as well as emulsions, reports Foodbev. The site neighbours its flavour division and features a production plant, two warehouses, application labs, testing rooms, administration offices and extra room to accommodate the planned growth of the company. “Our new flavour centre…

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National Water Distribution Utility of Tunisia secures US$44m from EIB for drinking water supply

TUNISIA – The European Investment Bank (EIB), the financing institution of the European Union has signed two finance contracts totalling €38 million (US$44.7m) with Tunisia and the National Water Distribution Utility (SONEDE) to secure the drinking water supply in Greater Tunis. The project will be undertake in the capital of the Tunis and the three governorates of Ben Arous, Manouba and Ariana. This European financing will make it possible to develop and upgrade the infrastructure needed to secure the entire drinking water supply system in Greater Tunis. The impact of…

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