Latest news with #SamirAbdelhafidh
Zawya
4 days ago
- Business
- Zawya
AfDB's Adesina commends diversified cooperation between Tunisia and bank
Abidjan – Outgoing President of the African Development Bank (AfDB) Group Akinwumi A. Adesina commended the diversified cooperation between Tunisia and his institution. Speaking to TAP on the sidelines of the AfDB's Annual Meetings in Abidjan, Côte d'Ivoire, Adesina pointed out that this cooperation covers several sectors, mainly energy, pharmaceutical infrastructure, drones' deployment in the agricultural sector and pharmaceuticals, recalling the fact that Tunisia had hosted the Bank's headquarters for several years, a fact he described as emblematic of the country's longstanding ties with the institution. The 2025 Annual Meetings of the AfDB Group– marked this year by the election of a new Bank president– are organised on May 26-30 in Abidjan under the theme: 'Making Africa's Capital Work Better for Africa's Development.' Tunisia is represented by a high-level delegation led by Minister of Economy and Planning Samir Abdelhafidh, who serves as the country's Governor to the Bank. At the close of his term on head of the AfDB, Adesina affirmed to TAP his intention to dedicate his time 'to strategic networking and to championing Africa's interests on the global stage.' He further highlighted that under his leadership, the Bank achieved the largest capital increase in its history—soaring from $93 billion in 2015 to $318 billion today—calling it 'an unprecedented milestone.' He also noted that the institution recorded the most substantial replenishment of the African Development Fund's resources to date, securing $8.9 billion under its 16th replenishment cycle. © Tap 2022 Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
AfDB 2025 Annual Meetings kick off in Abidjan with over 6,000 delegates from 81 countries
Abidjan - Over 6,000 delegates from 81 countries, including African heads of state and government, finance ministers, central bank governors, development partners, private sector representatives, civil society leaders, academics, think tanks and opinion leaders, NGOs, and other stakeholders, are attending the African Development Bank (AfDB) Group's 2025 Annual Meetings which kicked off on Monday and will run until May 30 in Abidjan, Côte d'Ivoire. During these meetings, held on the theme: "Making Africa's Capital Work Better for Africa's Development," the AfDB Governors will elect a successor to current Group President Dr. Akinwumi Adesina, whose second five-year term ends on August 31. Tunisia is taking part with a delegation led by Minister of Economy and Planning Samir Abdelhafidh, Governor of the Republic of Tunisia Group at the AfDB. Over the next five days, high-level dialogues, strategic discussions and knowledge-sharing events will be held on some of Africa's most urgent and ambitious priorities, ranging from macroeconomic stability and domestic resource mobilisation to energy transition, food systems transformation and climate finance. The agenda includes a presidential dialogue at the launch of the African Economic Outlook report, thematic discussions on mobilising capital in a difficult economic context and institution-building. These Annual Meetings are a platform to rethink how Africa mobilises, maintains and deploys its own wealth to shape its future in a financial context shaped by the many challenges facing Africa, while the outgoing AfDB President will make way in the vote for the new Bank President for Sidi Ould Tah (Mauritania), Amadou Hott (Senegal), Abbas Mahamat Tolli (Chad), Bajabulile Swazi Tshabalala (South Africa) and Samuel Munzele Maimbo (Zambia).
African Manager
29-04-2025
- Business
- African Manager
EIB provides €30 million to boost Tunisia's drinking water infrastructure
The European Investment Bank (EIB) has granted Tunisia a €30 million (≈ TND 100 million) financing package to strengthen drinking water supply systems in Greater Tunis and the Tunis Financial Harbor. Port. This financing aims to strengthen support for the water and sanitation sector in Tunisia. It comprises two financing agreements, one for the National Water Distribution Utility (SONEDE) for €22 million and the other for the Republic of Tunisia for €8 million. 'We have signed a first credit agreement for €8 million (nearly 27 million dinars), granted to the Republic of Tunisia for the supply of drinking water to the El Hassiane financial harbor project, in the Raoued delegation (Ariana governorate),' Samir Abdelhafidh, Minister of the Economy and Planning, said at the signing of this loan on Monday. This sovereign loan is repayable over 30 years with a 6-year grace period. It will be granted at a fixed or variable interest rate, at Tunisia's discretion. The second credit guarantee agreement concerns an additional direct loan of €22 million (TND 73 million) to SONEDE for the construction of a drinking water treatment plant in Bejaoua to reinforce and guarantee the water supply in the Greater Tunis region. The loan will be repaid over 22 years, with a 6-year grace period, the Minister added. This is a direct loan with a term of 22 years, including a 6-year grace period for each installment disbursed, at a fixed or variable interest rate, at Tunisia's choice. Under the banner of food security, 'these two financing operations underline Tunisia's commitment to supporting food security and also testify to the mutual trust between Tunisia and the EIB,' the Minister stressed, pointing out that this long-standing cooperation, which dates back to 1979, has resulted in EIB financing of more than €7 billion. For his part, Hamadi Habaieb, Secretary of State to the Minister for Agriculture, Water and Fisheries, in charge of water resources, pointed out that work was well underway on the new drinking water treatment complex in Greater Tunis, Bejaoua, and its connection to existing infrastructures. This project is being co-financed by the EIB and French Development Agency (AFD) to the tune of €92 million. The aim of the project is to reinforce and secure the supply of drinking water to the greater Tunis area, which currently relies almost exclusively on the 8.4 m3/s Ghedir El Golla drinking water treatment complex, as well as the supply of drinking water to the financial port of Tunis. For his part, EIB Vice-President Loannis Tsakiris stressed that the Bank was continuing to strengthen its support for development projects in Tunisia, adding that this financing agreement was in line with programs to promote sustainable development and combat climate change. In addition, the EIB is launching a new strategic partnership with the World Wildlife Fund (WWF) on behalf of the Office National de l'Assainissement (ONAS) to promote nature-based solutions (NBS) to meet the challenges of water and climate change. The study, which focuses on the applicability of NBS in cities with less than 3,000 inhabitants, will be presented shortly to identify a pilot project to be developed with the support of international partners. In parallel, an EU-funded technical assistance contribution of €5 million, implemented in partnership with the EIB, will support the Ministry of Economy and Planning in the preparation of a new generation of public investment projects. This assistance will aim to improve the quality, sustainability and resilience of future projects in key sectors for Tunisia's long-term development.
African Manager
24-04-2025
- Business
- African Manager
Tunisia's economic growth stuck at 1.4% through 2025-2026, IMF reports
In terms of growth, Tunisia's rate in 2025 and 2026 will be exactly the same as in 2024, i.e. a sluggish 1.4%, which will mark the country's GDP trajectory for another two years, according to the 'World Economic Outlook, April 2025' report published on Tuesday by the International Monetary Fund on the sidelines of the World Bank Group (WBG) and International Monetary Fund (IMF) Spring Meetings 2025. According to the report, titled 'World Economic Outlook, April 2025: A Critical Juncture amid Policy Shifts', Tunisia's inflation rate will fall from 7% in 2024 to 6.1% in 2025 before rising to 6.5% in 2026, while the unemployment rate is not mentioned in the report. It should be noted that the Tunisian economy will grow by 1.4% in 2024, according to the National Institute of Statistics (INS). Agricultural activity remains the main driver of growth. According to the INS, the sector's value added grew by 12.1% year-on-year in the fourth quarter of 2024. Tunisia is taking part in the 2025 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), which are held in Washington from April 21 to 26, 2025, the Ministry of Economy and Planning announced on Tuesday. The official Tunisian delegation includes Minister of Economy and Planning, Samir Abdelhafidh, and Governor of the Central Bank of Tunisia (BCT), Fethi Zouhair Nouri. Members of the Tunisian delegation will meet with senior officials from regional and international financial institutions, as well as their counterparts. In the Middle East and North Africa (MENA) region, however, growth is expected to reach 2.6% in 2025 and 3.4% in 2026, according to the IMF report. Egypt is expected to grow by 3.8% in 2025 and 4.3% in 2026, while Morocco will grow by 3.9% in 2025 and 3.7% in 2026. Algeria is expected to grow by 3.5% in 2025 and 3% in 2026. The same goes for global growth! It's worth noting that global growth will fall to 2.8% in 2025 and 3% in 2026, well below the historical average of 3.7% observed between 2000 and 2019. After a series of prolonged and unprecedented shocks, the global economy seemed to have regained some stability, with stable but lackluster growth rates, the IMF recalled. However, the situation is changing as governments around the world redefine their priorities and uncertainties reach new heights. Global growth forecasts have been revised sharply downwards compared with the January 2025 edition of the World Economic Outlook Update, due to the imposition of tariffs reaching levels not seen in a century and the high level of uncertainty at the moment, the same source said. It added that global headline inflation is expected to fall slightly more slowly than forecast in January. A plea for a 'stable business environment' Divergent and rapidly changing policies or a weakening of confidence could lead to an even more pronounced tightening of global financial conditions, the same document said. The intensification of a trade war and heightened uncertainty around trade policy could further weigh on short- and long-term growth prospects, it said. The report noted that a decline in international cooperation could jeopardize progress towards a more resilient global economy. In this context, the financial institution called on countries to work constructively to promote a stable and predictable business environment and to facilitate international cooperation, while addressing policy shortcomings and structural imbalances. This will help ensure economic stability, both domestically and internationally. To boost growth and reduce fiscal tensions, the authorities could implement policies to promote healthy ageing and increase the labor force participation of older people and women, the same source recommended.
Zawya
25-03-2025
- Business
- Zawya
Tunisia joins African Trade & Investment Development Insurance
Tunis: Tunisia has just joined the African Trade & Investment Development Insurance (ATIDI) and will participate in its capital, under the terms of an agreement inked Monday between the Economy and Planning Ministry and ATIDI. As such, Tunisia becomes the first country in North Africa to join the pan-African multilateral insurer and its 25th member, said Economy and Planning Minister Samir Abdelhafidh. This membership testifies to Tunisia's willingness to step up investments and boost trade in Africa, through mechanisms to facilitate access to financing and reduce risk costs, the minister pointed out. This agreement will help Tunisia make the most of ATIDI's various insurance services, he added. Founded in 2000, ATIDI is a pan-African organisation that provides trade credit and political risk insurance to companies, investors and lenders interested in doing business in Africa. © Tap 2022 Provided by SyndiGate Media Inc. (
