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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Tunisian cheese marker Land’Or clinches US$12.89m from EBRD for Tunisia, Morocco expansion

NORTH AFRICA – Land’Or, Tunisian dairy processor specializing in cheese making has received €10.9 million (US$12.89m) loan financing from the European Bank for Reconstruction and Development (EBRD) to support its expansion in Tunisia and investment in Morocco. According to the press-release statement by EBRD, the operation is supported by the European Union (EU). From the total financing facility, Land’Or will use €3.1million (US$3.66m) to procure new machinery and increase the production capacity of its Tunisian plant. It will also optimise the processes in its Tunisian plant by improving its industrial…

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Tunisian dates exporter VACPA secures US$12M from IFC to cushion business against COVID-19 effects

TUNISIA—Leading Tunisian dates exporting company VACPA has secured financing amounting to US$12.41 million from the IFC as part of efforts to cushion its business from the adverse effects of the COVID19 pandemic. IFC, a member of the World Bank Group, in a press statement noted that the financing to VACPA was part of an effort to preserve jobs, especially for women, amid the COVID-19 pandemic. VACPA according to the IFC is Tunisia’s largest exporter of dates, buys its fruit from close to 1,000 farmers and employs more than 1,700 workers,…

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Tunisian tomato processing firm clinches US$56m investment from DPI

TUNISIA – Pan-African private equity firm, Development Partners International (DPI) has invested US$56m into Société Industrielle des Conserves Alimentaires (SICAM), leading agri-business and tomato processor in Tunisia, aimed to reinforce its market leadership and help drive its international expansion strategy. Aligned with DPI’s investment strategy focused on the emerging middle class in Africa and on consumer-driven industries, it is the second investment through its third fund, Africa Development Partners III (ADP III). Through this partnership, SICAM will benefit from DPI’s significant regional and sector expertise and its active management approach…

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Maghreb Private Equity Fund IV acquires additional stake in Tunisian Cheese maker Land’Or

TUNISIA – Maghreb Private Equity Fund IV (MPEF IV) has acquired 1.8 million new shares, representing 16.20% of the capital of the Tunisian agrifood firm Land’Or. This acquisition allows the private equity fund dedicated to small and medium-sized businesses in North Africa to increase its capital in Land’Or which directly owned 5.40% of shares in the company to 21.6% of shares. Land’Or is one of the leading Tunisian agroprocessing companies in North Africa specializing in cheese making. Since its opening in 1994, the company has managed to establish itself as…

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Tunisian dairy firm Land’Or to invest US$11.3m in new plant in Morocco

MOROCCO – Land’Or, Tunisian dairy manufacturer has unveiled that it will be investing US$11.3 millon in setting up a new plant in Morocco. According to a Morocco News report, Land’Or said it be commissioning operations of the facility in the first quarter of 2021. The company will build the 3,300 square meter plant in a 1.3 hectare plot in Kenitra, near Rabat for local production of canned cheese, melting cheese, and fresh cheese. Land’Or seeks to sell most of the products in the Moroccan market as part of its strategy…

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U.S. beef, poultry and egg products gain new market access in Tunisia

TUNISIA – Tunisia has opened its market for beef, poultry, and egg products from the United States following an agreement between the two governments to allow importation of the products into the country. Sonny Perdue, U.S. Secretary of Agriculture said the agreement strengthens the United States Departments of Agriculture (USDA) commitment to expanding its reach as well as providing consumers with more choices of products in the market. “At the direction of President Trump, USDA remains committed to opening up new markets across the globe. While we continue to supply…

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Gulf Capital invests US$22m in Tunisia’s olive oil producer CHO Company

TUNISIA – Gulf capital, a Middle East – based asset management firm, has invested US$22 million in Tunisia’s largest organic and natural olive oil producer, CHO Company. Abdelaziz Makhloufi, founder and chairman of CHO Company, said that the funding will facilitate the company’s growth and expansion plan and infiltration into the global market. “Gulf Capital’s funding will further support our integration plans, through expanding our olive grove plantations across Tunisia. We are fully committed to growing Terra Delyssa’s presence and reach new markets globally,” he said Christopher Foll, Senior Managing…

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Lesaffre announces the acquisition of Tunisia’s Rayen Food Industries

TUNISIA – Lesaffre, a French yeast manufacturer and the world’s largest producer, has announced the acquisition of a majority shareholding in the company Rayen Food Industries in Tunisia. Rayen Food Industries is the largest production plant of baker’s yeast in Tunisia. This acquisition is in line with Lesaffre’s goal of strengthening its presence on the African continent and ensuring greater proximity to its clients. Situated in Jendouba, in northern Tunisia, the factory produces fresh baker’s yeast for the Tunisian market. Investments are planned to maximise the efficiency of its industrial…

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US Grains Council rolls out corn harvest quality information in Tunisia

TUNISIA – The US Grains Council (USGC) has rolled out corn quality information in Tunisia, following an event where more than 90 feed millers, poultry and livestock producers, importers and end-users from eight countries in the Middle East and Africa region attended in Tunisia. Ramy H. Taieb, USGC regional director for the Middle East and Africa, provided opening remarks along with Nabil Maouia, agricultural specialist at the U.S. Embassy in Tunis. Danielson Castillo also provided an overview of the key findings of the 2017/2018 Corn Quality Harvest Report, including that…

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