Latest news with #AfricanManager
African Manager
6 days ago
- Business
- African Manager
Accumulated debts and unpaid checks… UGTT files complaint against Amilcar Hotel investor!
The company ESSOUKNA achieved a remarkable performance during the first half of 2025, marked by a spectacular rise in its commercial activity and progress on several strategic real estate projects. At the end of the first six months of the year, revenue reached 12.5 million dinars (MD), compared to 0.2 MD during the same period in 2024, representing an impressive growth of 5,700%. This momentum is supported by a strong commercial portfolio: the total of sales and firm commitments amounts to 28.6 MD, divided between 12.5 MD in completed sales and 16 MD in firm promises of sale, the latter expected to be finalized before the end of the year. Operationally, the real estate developer has reached key milestones in the development of its projects. The company has obtained the completion report for the project located in El Menzah 9, whose projected revenue is estimated at 27 MD. Additionally, it plans to obtain, during the second half of the year, the completion report for the Manouba project, which is expected to generate projected revenue of 16 MD. In parallel, ESSOUKNA continues its land expansion strategy, with the acquisition of three land lots in El Mourouj during this semester, thus strengthening its future development potential. Thanks to this combination of exceptional commercial performance and real estate projects nearing completion, ESSOUKNA confirms its position as a dynamic player in the Tunisian real estate market and is preparing for a promising second half of the year. Tunisia: Microcred implements historic 8-point cut in interest rates AfricanManager Microcred SA, a leading microfinance player in Tunisia, today announces an exceptional measure in support of economic inclusion: a single, unified pricing for all its loans, reduced by 8 points compared to current rates. This new unified pricing, applied to all types of loans designed prior to this decision, positions Microcred SA among the most competitive institutions on the market. It will cover all its loan products disbursed starting Monday, August 4, 2025. This significant rate cut is the direct result of the 'NEXTT' transformation plan, launched in October 2022 following the company's transition to 100% Tunisian ownership. The plan enabled a deep modernization of operations, significant productivity improvements, and a reduction in operating costs. Customer-focused modernization 'Our transformation was not an end, but above all a way to fulfill a promise: making financial autonomy more accessible. Today, we are translating our efficiency gains into direct and tangible benefits for our clients, especially the most vulnerable,' said Ms. Awatef Mechri, CEO of Microcred SA. 'By reducing the cost of credit, we're giving them additional means to create value, better develop their impact projects, and sustainably improve their daily lives.' The success of Microcred SA's transformation relies on two major pillars: Complete digitalization of the customer journey: From online loan simulation to fund disbursement, all processes have been fully digitized to offer a simpler, faster, and more transparent experience. A culture of hyper-proximity: Teams have been trained to strengthen listening and personalized support, addressing both experienced project holders and those who are only at the idea stage. Over 50 New Credit Products to Accelerate Social and Economic Impact In parallel with this general rate cut, Microcred SA is expanding its offerings with more than 50 new credit formulas tailored to specific needs: Young graduates and women in rural areas with high-impact projects (green, circular, or solidarity economy); Low-income and unbanked salaried workers needing financing for personal or family projects. These new offerings also benefit from flexible repayment terms (monthly, quarterly, semiannual, or annual), adapted to the seasonality and actual financial capacity of each project. With all these strong commitments, Microcred SA reaffirms its mission: to be a trusted partner and a growth catalyst of choice for micro-entrepreneurs and households excluded from the traditional financial system in Tunisia.
African Manager
14-06-2025
- Automotive
- African Manager
Deregulated pricing for electric vehicle charging in Tunisia!
Tunisia aims to reach 50,000 electric vehicles (EVs), 5,000 charging stations and 50MW of installed power by 2030, up from just 500 EVs, 500 charging points, and 5MW by 2025. To support this transition, the 2024 Finance Law reduces VAT on EVs from 19% to 7%, cuts registration fees by 50%, and halves the annual road tax (vignette). Fethi Hanchi, Director-General of the National Agency for Energy Management (ANME) affirmed that EV charging prices will be deregulated, meaning the government will not impose fixed rates. In an interview with AfricanManager, Hanchi explained that charging station installation costs vary by capacity and power type. For instance a a 100kW fast charger costs 400,000 dinars, while a 22kW standard charger costs under 20,000 dinars. He emphasized that the state is implementing measures to boost EV adoption and accelerate the energy transition. 70 state-owned companies switch to EVs ANME has been tasked with procuring EVs for 70 state-owned companies, funded by their own budgets with support from the Energy Transition Fund. Each vehicle will cost around 75,000 dinars and a tender will be launched soon. New technical specifications finalized On another hand, he stated that a new regulatory framework for charging stations is in its final stages, developed in collaboration with industry stakeholders. This will allow entrepreneurs and businesses to invest in charging infrastructure. Hanchi added that gas stations will also be permitted to install EV chargers under revised regulations to be published soon. Moreover, following discussions between the Ministry of Trade and the **Ministry of Industry and Energy, EVs have been excluded from import quotas; with a dedicated quota system to help dealers better assess market demand. Survey: 20% of Tunisians considering EVs A survey by **Emrhod Consulting** revealed that '20% of Tunisians are willing to buy an EV in the near future. It also revealed that nearly 29% plan to purchase a car (new or used) in 2025. The survey among a representative sample of the Tunisian population was conducted to gauge their perceptions of and expectations for the sector. The results revealed that 47% of respondents would opt for a combustion engine, 17% for a plug-in hybrid vehicle, and 14% for an electric vehicle. According to this survey, purchase price is the main factor influencing vehicle choice, at 49%. This is followed by fuel consumption (47%), aesthetics and design (33%), the availability of spare parts (32%), and maintenance costs (31%). In terms of preferred body types, saloons remain the most popular choice (45%), followed by sports utility vehicles (31%) and compact city cars (15%). The survey also found that 80% of respondents take maintenance costs into account when purchasing a vehicle. Finally, 75% of those surveyed said that the country of origin of the vehicle was important to them (40% considered this criterion very important and 35% considered it fairly important). New measures to encourage electric mobility by 2030 Secretary of State to the Minister of Industry, Mines and Energy in charge of Energy Transition, Wael Chouchane, stressed that regulatory, pricing, technical, institutional and economic measures have been developed to promote electric cars in Tunisia. He confirmed that, at a regulatory level, the decision had been made to consider the charging of electric vehicle batteries as a 'service' for which electricity is one of the various inputs. He said that a draft decree had been prepared to this effect, enabling all aspects of the recharging service to be organized in accordance with a set of specifications. Regarding the regulatory framework, Chouchane said that the standard relating to the nomenclature of Tunisian activities had been updated to include the recharging of electric vehicle batteries, and that a decree updating the NT120 standard was currently being adopted. He also announced that the Department of Industry is developing a national electric mobility strategy to promote improved energy performance in the transport sector and reduce its carbon footprint. This strategy will define clear objectives regarding the number of electric cars and charging points in line with the national energy transition, ecological transition and low-carbon development strategies. He pointed out that the transport sector in Tunisia is the biggest consumer of energy, accounting for around one-third of final energy consumption and over 50% of petroleum product consumption.
African Manager
12-02-2025
- Business
- African Manager
Tunisia gains momentum with major tourism projects
Mohamed Mehdi Haloui, Director of Investments at the National Tourism Office, highlighted the revitalization of Tunisia as a tourist destination, particularly emphasizing the growing interest from foreign investors. He noted that several international brands have expressed interest in expanding their presence in the country, either by opening new hotel units or enhancing existing operations through expansion projects. In an interview with African Manager on Tuesday, February 11, Haloui confirmed that the current period is marked by the completion of numerous tourism projects, with a total value of nearly 120 million dinars. He also revealed that the Ministry of Tourism is reviewing several legislative texts and laws to further stimulate investment in the tourism sector. Haloui stated that the sector has seen an improvement in investment activity over the past year, both in terms of investment intentions and actual investments. He detailed that total investment intentions reached 936.038 million dinars, while the value of realized investments was estimated at around 172 million dinars, with approximately 156 million dinars allocated to completing tourism accommodation projects. 'Investment intentions in 2024 showed growth compared to 2023, when they stood at around 870 million dinars,' he added. Major tourism projects soon to launch in Tunisia Haloui announced that the tourism sector will be bolstered by the launch of several significant projects, including a new Hilton-branded hotel in Tunis. 'In the South, work is nearing completion on two new units. We also hope that the Tamerza Palace Hotel will reopen this year, following the completion of all procedures by the project review committee. Additionally, work on the Forest Hotel in Jendouba has reached advanced stages, and it will reopen to the public in the coming weeks,' he said. He also assured that numerous tourism establishments in Sousse and Hammamet are set to open soon. Haloui announced that a Libyan investor has decided the fate of the iconic inverted pyramid hotel (Hôtel du Lac) in Tunis after holding a series of meetings with the Tunis Municipality and the National Heritage Institute. He confirmed that it has been decided to preserve the hotel's architectural structure, effectively abandoning the previously proposed demolition plans. Tourism revenues rise by 6.3% Cumulative tourism revenues increased by 6.3%, reaching 6.6 billion dinars as of November 20, 2024, according to monetary and financial indicators published by the Central Bank of Tunisia. Remittance revenues also saw a positive increase of 2.7%, reaching 7 billion dinars compared to 6.8 billion dinars the previous year. External debt servicing rose by nearly 24%, exceeding 13 billion dinars as of November 20, 2024. Net foreign exchange reserves remained stable at 24.8 billion dinars, equivalent to 112 days of imports. Factors behind the growth The observed growth is attributed to several factors. The return of political stability, combined with an aggressive international tourism promotion campaign, has clearly paid off. Tourists, drawn by Tunisia's cultural and natural riches, have responded in increasing numbers. While sector professionals welcome these encouraging results, they remain cautious about the future. Challenges persist, including heightened competition from rival tourist destinations and global economic uncertainty. Nevertheless, medium-term prospects appear favorable.
