Latest from African Manager
African Manager
an hour ago
- Business
- African Manager
Tunisia-China trade volume rises by 8%
Trade between Tunisia and China reached approximately 9.2 billion dinars in 2024, an increase of 8% compared to 2023, according to the Export Promotion Center (CEPEX). However, the untapped export potential to China is estimated at 214 million dollars (approximately 613.5 million dinars), including 20 million dollars (about 57.3 million dinars) for olive oil, 15 million dollars (about 43 million dinars) for seafood products and 2.5 million dollars (about 7 million dinars) for dates. This highlights the opportunities to be seized in this market to reduce the trade deficit and promote balanced trade between the two countries, according to the same source. A high-level delegation from 'Wuhan Yangluo Port Services Group', a Chinese group specialized in the fields of international trade, logistics, finance, and investment, is currently visiting Tunisia, until July 29. This visit aims to explore partnership and investment opportunities in the Tunisian market, both in terms of importing Tunisian products and developing investment projects in promising sectors, said the executive director of the Chinese group, Xu Baowei. B2B meetings were organized by CEPEX between the members of the delegation and 25 Tunisian companies with strong export potential to China.
African Manager
an hour ago
- Business
- African Manager
Taraji Holding and BNA Assurances: Two flagship listings to ignite stock market
The Tunis Stock Exchange is preparing to end 2025 under the sign of renewal, with the expected arrival of two new companies on the listing. These are Taraji Holding, the commercial subsidiary of the Espérance Sportive de Tunis club, and BNA Assurances, currently traded on the over-the-counter market. These operations are expected not only to bring market capitalization to a record level, but also to help revitalize a market that suffers from a lack of activity, both primary and secondary. The first listing concerns Taraji Holding, a public limited company controlled by the parent association Espérance Sportive de Tunis. With a post-capital-increase valuation estimated at 130 million dinars, this listing is a first in Tunisia. It marks the emergence of a new segment on the Stock Exchange, linking professional sports with market financing. This operation could serve as a model for other sports or cultural entities wishing to structure their commercial activities as companies and open their capital to public savings. The second listing is that of BNA Assurances, a subsidiary of the BNA group, with an indicative capitalization of 285 million dinars. Its listing will be done via a direct registration procedure, an option provided by regulations for companies already traded on an electronic system, as is the case here. This operation will allow for better valuation of the stock, increased visibility, and a broader investor base, while also reinforcing the representation of the insurance sector in the official listing. To date, the Tunis Stock Exchange includes 74 listed companies, representing a capitalization of 30.5 billion dinars, or about 17.3% of GDP. The arrival of Taraji Holding and BNA Assurances will bring this total to 76 companies with an estimated capitalization of 31 billion dinars, thus establishing a new all-time high. For the record, the market crossed the symbolic 30 billion dinar threshold for the first time on July 4, 2025. Beyond the size effect, these two listings have strategic significance. They breathe new life into a primary market segment that has remained relatively inactive in recent years and could create a ripple effect for other companies, especially public or family-owned, seeking financing or succession planning. At the same time, the broadening of the listing offers new opportunities to investors and increases potential liquidity in the secondary market. In short, these two operations revive the attractiveness of the Tunis marketplace by bringing both diversification, visibility, and a signal of confidence in the role the Stock Exchange can play in financing the real economy. At the referee's whistle, the two teams will enter the pitch side by side.
African Manager
an hour ago
- Business
- African Manager
Tunisia: Carthage Cement gets back on track in Q2 of 2025
At the end of the first half of 2025, Carthage Cement posted mixed performances, marked by an encouraging recovery in the second quarter, after a more difficult start to the year. This dynamic partially corrected the decline observed in the first quarter, despite half-year revenue still falling short compared to the previous year. Revenue for the second quarter of 2025 rose by 3%, reaching 103.6 million dinars, compared to 101 million in the same quarter of 2024. This improvement softened the poor performance at the start of the year but did not reach the levels achieved in 2024. Thus, as of June 30, 2025, cumulative revenue amounted to 183.5 million dinars, compared to 212.9 million dinars a year earlier, representing a 14% year-on-year decline. The cement activity, the core business of Carthage Cement, showed signs of resilience, especially internationally. Export sales experienced a spectacular increase of 125% in the second quarter (22.1 million dinars vs. 9.8 million in 2024). This brought export revenue to 32.6 million dinars as of June 30, 2025, a 50% increase year-on-year. This performance reflects the company's increased competitiveness in foreign markets. On the other hand, on the local market, half-year revenue dropped by 24%, reaching 133.5 million dinars, compared to 175 million a year earlier, in a constrained national economic context. On the production side, clinker recorded an 8% increase in the second quarter, but remained down 5% over the half-year. Cement production, for its part, decreased by 19% as of June 30. The aggregates activity began to recover in the second quarter, driven by increased demand. Production rose by 5%, reaching 1.145 million tons, while half-year revenue increased by 4%, to 12 million dinars. The ready-mix concrete activity continues to expand, with cumulative production of 31,441 m³ as of June 30, 2025, an 8% increase compared to last year. The associated revenue grew by 17%, reaching 5.3 million dinars. Furthermore, Carthage Cement invested 12.8 million dinars during the first half of the year, while debt stood at 293.5 million dinars, down 8% compared to the end of 2024, reflecting prudent liability management. In addition, bank deposits totaled 40.4 million dinars, reflecting a stabilized cash position.
African Manager
an hour ago
- Business
- African Manager
Tunisia produces less electricity than it consumes
Mohamed Ali Fenira, a member of the Industry Committee in the Assembly of People's Representatives, stated that Tunisia's electricity production remains insufficient compared to consumption, highlighting the power cuts recorded in several regions of the country since Sunday. He specified that consumption is close to 5,000 megawatts, while production does not exceed 4,200 megawatts. Speaking on Express FM, he noted that there is a significant electricity deficit. No imports from Algeria have been possible, as the country faces the same issue. All of Tunisia's electricity comes from Algerian gas, at nearly 100%. Electricity must be available continuously, without interruption. It is imperative to expand the use of photovoltaic energy. However, he announced that work on the Tunisia-Italy electrical interconnection project (ELMED) will begin next month. This project will allow electricity exchange. Tunisia will have an energy surplus for 8 months (October to June), which it can export to Italy, and import back when needed. Solar energy development not progressing! Regarding solar energy, he noted that photovoltaic energy development is not advancing as it should. Many factories want to equip themselves, but the procedures take more than a year, discouraging investors. He also pointed out that the Tunisian state buys only 30% of the excess electricity produced by factories, at a price of 80 millimes/kWh, whereas in concessions granted to foreign investors, the price is 95 to 100 millimes/kWh. He stressed the lack of incentives, especially for households. Fenira added that the energy transition failed a first and second time. 'We hope the one planned for 2030-2035 will succeed. This is the only hope to avoid power cuts. Electricity is an absolute priority, and its availability must be continuous. We must massively expand photovoltaic use.' He also mentioned power cuts in industrial zones and numerous citizen complaints, recalling that the Assembly adopted Bill 65/2025 concerning the guarantee agreement signed on March 12, 2025, between Tunisia and the International Islamic Trade Finance Corporation, to finance natural gas imports by STEG (Tunisian Electricity and Gas Company), with 73 votes in favor, 14 abstentions, and 12 against. This text relates to the purchase of a quantity of Algerian gas, which is a temporary solution for Tunisia. The MP also recalled that the 2015 Renewable Energy Law stipulates that the energy strategy must be approved by a ministerial decree after consultation with several ministries, but this has still not been done. This has caused blockages, particularly in land management. He mentioned the goal of reaching 35% renewable energy by 2030, stating that energy self-sufficiency in electricity is possible, provided that agreements are accelerated and strategies implemented. He also stressed that several investors have obtained bank approval to finance their photovoltaic projects, which is encouraging. Renewable energy is a goal for the state, investors, and financial institutions. 'Energy independence by 2035 is possible,' he said, while acknowledging that more efforts are needed, particularly on storage solutions and nighttime supply options, such as hydrogen or other alternatives. He called for a revision of several laws, including those on renewable energy and investment, to remove current obstacles. Finally, he addressed the debate over the article on projects of national interest, which, once approved, would automatically be considered as having obtained all necessary permits. This primarily concerns energy projects. Several regions of the country have experienced power cuts due to a heatwave. STEG clarified that these cuts were not due to local technical failures but rather a preventive nationwide measure (load shedding) to avoid a total grid collapse (blackout) in the face of unprecedented consumption peaks.
African Manager
a day ago
- Business
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Tunisia: SAH Lilas Group announces revenues of over 470 million dinars in H1
The SAH Group's consolidated net revenues reached 472.2 million dinars, as of June 30, 2025, compared to 462.2 million dinars at the end of June 2025, representing additional revenue of 10 million dinars and an annual increase of 2.2%. The rise in consolidated net revenues by the end of June 2025 was driven by the commercial performance of SAH Libya, whose net revenues reached 28 million dinars, up 31.1% compared to the same period in 2024, as well as by the contribution of the Cosmetics division, which generated revenue of 29.5 million dinars compared to 12.2 million dinars in 2024. Sales of the subsidiary Azur Detergent grew by 4.9%, reaching a revenue of 79.8 million dinars as of June 30, 2025. In the second quarter of 2025, the Group's sales amounted to 211.6 million dinars, a decrease of 4.4% compared to the second quarter of 2024. Local sales increased by 10.3%, mainly due to the contribution of the Cosmetics division, which generated revenue of 15.6 million dinars during the second quarter of 2025, while international sales declined by 27.9%. The breakdown of consolidated net revenues (adjusted for inter-group sales) by subsidiary shows that SAH Tunisia contributes 47.8%, followed by Azur Detergent and Azur Papier, whose sales account for 17% and 11.1% of total sales, respectively. The contribution of Azur Cosmetics stood at 6.3%.
