Latest news with #CONECT
Zawya
3 days ago
- Business
- Zawya
FM Nafti opens Tunisian-Danish Business Forum, positions Tunisia as Africa's commercial gateway
Tunis - Minister of Foreign Affairs, Migration and Tunisians Abroad, Mohamed Ali Nafti, opened the Tunisian-Danish Business Forum at the headquarters of the Danish Chamber of Commerce in Copenhagen, Denmark. He was joined by a delegation of Tunisian businesspeople from the Confederation of Tunisian Citizen Enterprises (CONECT), as well as a delegation of their Danish counterparts. During his visit to the Kingdom of Denmark, Nafti emphasised that this business forum reflects the eagerness of economic actors in Tunisia and Denmark to explore new partnership opportunities in vital areas such as clean energy and technology. It also demonstrates their desire to capitalise on the significant potential available in both countries, thereby strengthening economic cooperation and doubling trade exchanges over the next three years, according to a press release issued by the ministry this evening. The foreign minister highlighted three sectors on which to focus to form a solid basis for the Tunisian-Danish partnership: pharmaceuticals, agricultural production technologies, and digital services. "Tunisia is the natural gateway that Denmark can use to access African markets, thereby strengthening its position as a regional centre for trade and investment," he stressed. Nafti called on businesspeople from both countries to use this important forum to establish solid economic partnerships and noted the Tunisian government's commitment to facilitating trade and creating a favourable investment climate through the establishment of legislative frameworks that stimulate economic activity in various sectors. According to the press release, the forum included the organisation of B2B meetings between Tunisian and Danish economic actors, with the aim of exploring ways to strengthen cooperation and partnerships in various economic sectors. These will be discussed further at the next meeting of the "Nordic-Tunisian Sustainable Business Forum," which is to be held in Tunis in October. The Minister of Foreign Affairs concluded his visit to Denmark — the second stop on his tour of several Scandinavian countries — by meeting members of the Tunisian community living in Denmark. © Tap 2022 Provided by SyndiGate Media Inc. (
African Manager
19-02-2025
- Business
- African Manager
MIQYES: Tunisian SMEs remain resilient despite difficult environment
Nearly 64.1% of SMEs achieved a profit in 2023, nearing pre-COVID crisis levels (71% in 2017), according to the 7th edition of the 'MIQYES' SME Health Barometer, whose results were presented on Tuesday in Tunis during a forum organized by the Confederation of Citizen Enterprises of Tunisia (CONECT). This demonstrates resilience in a challenging international and national context, as highlighted by economist Abdelkader Boudriga, who presented the barometer. The survey, conducted on a sample of 502 SMEs across various sectors, revealed that 31.1% of them saw a decline in revenue compared to 43.9% in 2022, despite a slowdown in growth in 2023. SMEs invested more in maintaining their operations (36.7%), with less than one in five SMEs investing in new activities during 2023. Looking ahead, only one in two SMEs plans to venture into new activities. Additionally, 71.2% of women-led SMEs (representing 12.2% of SMEs) reported profits in 2023. The survey also found that Tunisian SMEs are predominantly local (69%), with only 12% engaged in exporting. The European Union is the primary export destination for SMEs (57%), followed by North Africa (20%). Export-oriented SMEs are mainly located in coastal regions. However, the conquest of new markets declined in 2023, reaching its lowest level since 2016. The growth momentum of SME activities is primarily driven by the private sector, with limited dynamism in public markets due to the country's macroeconomic and financial challenges, as well as the public buyer's cost-control policies. In this context, 23.9% of SMEs secured new government contracts, while 59.1% obtained new private contracts. Persistent challenges in accessing financing The majority of Tunisian SMEs continue to find access to financing difficult, with the exception of leasing, which remains the most accessible funding source for 55.4% of SMEs. SMEs in inland regions, particularly in the North/Central West, face the most financial constraints. Notably, 48.6% of Tunisian SMEs have self-excluded from seeking financing (no funding requests) due to a history of bank loan rejections and the stringent requirements of bank financing compared to leasing. Creation of 27,000 Net Jobs in 2023 Regarding recruitment, 54.4% of SMEs hired in 2023, creating approximately 27,000 net jobs. However, the hiring momentum slowed compared to 2022 and the pre-COVID period. On another note, 36.1% of companies have at least one environmental or corporate social responsibility (CSR) initiative. However, this commitment is hindered by a lack of financial resources and insufficient government support. According to the MIQYES Barometer, despite a difficult national and international context, 60% of SMEs remain optimistic about the country's economic situation. It is worth noting that entrepreneurship in Tunisia remains largely a family affair, with 73.4% of SMEs being family-owned.
African Manager
05-02-2025
- Business
- African Manager
New check regulations: Between opportunities and a lack of alternatives
The new check regulations, perceived by some economic actors as an inevitable step aimed at restoring the true role of checks as a payment instrument, have sparked significant concerns among businesses. Companies lament the lack of alternatives to check-based financing, as highlighted during an information day titled 'The New Check Regulations: Impacts and Solutions,' organized on Tuesday in Tunis by the Confederation of Tunisian Citizen Enterprises (CONECT). The new law (No. 41-2024, enacted on August 2, 2024), which primarily addresses the new check regulations, set an effective implementation date of February 2, 2025, for most provisions. This delay was intended to give relevant institutions (Ministry of Justice, Central Bank of Tunisia, banks, businesses, etc.) time to prepare. However, several key practical measures—such as the new check format and the use of the newly created platform—have yet to be presented to businesses, leaving them unprepared. Additionally, many companies remain unaware of several provisions of the law, including the opening of check accounts, limitations on checkbooks, the new digital platform, procedures for bounced checks, new penalties, reconciliation and commitment processes, reduced interest rates on fixed-rate loans, transitional measures for the old law, and procedures for closing bank accounts. Moreover, with the criminalization of guarantee checks and post-dated checks, the law is likely to significantly impact business financing. In a statement to TAP news agency, CONECT President Aslan Berjeb noted, 'It is still too early to comment on the challenges related to this regulation. We need to wait a few weeks to draw initial conclusions. But now that the law has been enacted and the 'TuniChèque' platform is operational, it is pointless to challenge a text already in force.' He added, 'I believe this is an opportunity for checks to regain their role as a sight payment instrument, while other payment methods replace them for guarantee purposes. Checks were never legally intended to serve as guarantees, although practice has made them so, both for businesses and citizens. This is also an opportunity to gradually integrate a significant portion of the informal sector. However, both the public and private sectors must work together to develop viable alternatives, addressing technological, cybersecurity, and personal data protection challenges. All this must be supported by an efficient and effective judicial system that considers time, a critical factor in commercial transactions.' Berjeb also emphasized that existing tools such as crowdfunding, credit bureaus, credit insurance, and credit cards could help mitigate the negative effects on business financing. He added, 'Promissory notes should also reclaim their role as credit instruments. Our banking and financial sectors must demonstrate ingenuity and innovation to better support this transition. I believe disruptive and radical changes occur in specific times. We are in a unique economic situation, and this is when major changes must happen. Businesses need some time to adapt.' The Lack of alternatives is the real issue! Sofiene Weriemi, an accountant and university professor, believes that the economic impact is the real challenge that must be addressed. 'Checks have always been a financing mechanism for Tunisians, not just a payment instrument, with a rejection rate that has never exceeded 3% and a volume exceeding 123 billion dinars in 2023. Changing their purpose overnight will create significant financing problems for businesses, especially SMEs, and for consumption.' He added, 'The Tunisian economy and the banking and financial sector have not yet developed alternatives to replace checks, particularly for business financing. There may be partial replacement through credit insurance or crowdfunding mechanisms, despite their limitations, but no viable alternatives exist to maintain economic stability and consumption levels. This transition should have been better prepared,' he concluded. During the event, Nizar Bezzai, Central Commercial Director of COTUNACE, presented credit insurance as an existing mechanism that will gain prominence with the new check law. This mechanism aims to protect businesses against potential defaults, both in the local market and for exports.
