La pandémie a créé un besoin urgent de plus de capital patient en Afrique. Les gouvernements de tout le continent étant confrontés à des contraintes budgétaires tout en reconnaissant l'importance des investissements dans les infrastructures et les services essentiels, le PE et le VC offrent une voie intéressante pour le soutien financier. La pandémie a également accéléré la numérisation…
On fuelling economic growth in Africa through insurance penetration In what ways did the Covid-19 pandemic impact the insurance sector in Africa? FARID CHEDID: Government measures to reduce the spread of Covid-19 such as national lockdowns have translated into slow economic growth, and in some cases recession. The performance of the insurance sector is traditionally closely linked to that of the…
The pandemic has created an urgent need for more patient capital in Africa. With governments across the continent facing budgetary constraints while recognising the importance of investment in essential infrastructure and services, private equity (PE) and venture capital (VC) offer an attractive avenue for financial support. Covid-19 has also accelerated digitalisation in key African markets, which…
Interview:Mohamed Agrebi In what ways can digitalisation help to meet the liquidity needs of the economy? MOHAMED AGREBI: The notes and currency presently in circulation amount to TD12.5bn ($4.3bn). This level has been disproportionate to the needs of the economy since 2011. While a slowdown in the growth rate of the currency in circulation occurred in 2018, large-scale informal activity and…
Interview:Bilel Sahnoun What could the BVMT do to strengthen its position on the international stage? BILEL SAHNOUN: Although in line with international standards, the BVMT needs to be modernised in order to be up to date with the overall Tunisian financial sector. A reform project is currently being launched with the support of the European Bank for Reconstruction and Development, the results…
Interview: Walid Saibi In what ways can the government facilitate foreign investment on the Tunis Stock Exchange (Bourse des Valeurs Mobilières de Tunis, BVMT)? WALID SAIBI: There are no obstacles to foreign investment in the stock exchange on paper. The exchange’s technical, legal and regulatory framework is in line with international standards. Furthermore, there are several investment opportunities…
Interview:Habib Ben Hassine Can you describe the factors driving regional sector growth, and how insurers can leverage them? HABIB BEN HASSINE: The African insurance market is developing. In 2017 insurance premiums on the continent grew by 12.3% to reach €59.2bn, whereas global growth averaged 4%. However, there are significant disparities behind this figure: South Africa accounts for over…
While the structure of Tunisia’s banking sector prevents it from adequately financing the economy at large, recent developments in the microfinance segment are helping to attract customers. The impact of these new players is especially being felt among the small business community. Despite the fact that multiple microfinance associations were active beforehand, it was only after Tunisia’s 2011…
In December 2007 the Tunis Stock Exchange (Bourse des Valeurs Mobilières de Tunis, BVMT) launched an alternative market with considerably softer entry requirements than those on the principal market. The project was set up to provide small and medium-sized enterprises (SMEs) with a means to raise the funds necessary for their development. After a decade of existence the market has made certain advances,…
Activity on the Tunis Stock Exchange (Bourse des Valeurs Mobilières de Tunis, BVMT) has traditionally been characterised by demand from relatively small investors, as well as a limited amount of international investment. Meanwhile, the contribution of institutional investors has been marginal, negatively affecting the development of the country’s capital markets. However, a move towards mark-to-market…