For a long time, often not without reason, Tunisian companies have struggled to gain a foothold in Africa, whether in terms of financing or marketing mechanisms.
To address, more specifically, the limitations of traditional bank financing in supporting the internationalization of Tunisian companies in Africa, the time has now come to turn to other financing mechanisms, notably private equity and specialized investment funds (SIFs).
It was around this central idea that a conference-debate was recently held in Tunis on the financing mechanisms for the growth of Tunisian companies on the African continent.
The event was organized by the Tunisia Africa Business Council (TABC) on the sidelines of its ordinary general assembly.
The aim was to present alternative financial solutions capable of supporting both companies already operating in Africa and those seeking to establish a presence there.
On this occasion, TABC President Anis Jaziri highlighted the unprecedented nature of this approach, noting that Tunisian business operators remain largely focused on bank financing through credit.
“Today, we are talking about venture capital, investment funds, and mechanisms capable of taking equity stakes in companies, strengthening their capital base, and providing them with the financial means needed to export or establish a lasting presence in Africa,” he said.
According to him, strengthening equity capital is an essential lever for developing exports and Tunisian business establishments in Africa, at a time when Tunisian banks remain scarcely present on the continent.
“Except for the Société Tunisienne de Banque (STB), no Tunisian bank is established in Africa, unlike Morocco, which has for years developed a genuine African financing strategy. This lack of banking presence deprives Tunisian operators of essential information on customer risk and creditworthiness,” he added.
Quoted by Mosaïque FM, the president of the Tunisia Africa Business Council revealed that during the current year, new markets will be explored, notably Angola, Madagascar, and Kenya, a commercial hub in East Africa.
He also announced that the Council will organize a support program for a delegation of businesspeople in September 2026 to Angola, this oil-rich and affluent country, before closing the year with a visit to the Republic of the Congo, according to his remarks on the sidelines of the Council’s annual general assembly.
Focus on vital sectors
Anis Jaziri specified that the African visits scheduled for 2026 will focus on vital sectors, particularly construction and public works, services and engineering in all its specialties, as well as energy, water and sanitation, telecommunications and information technologies, in addition to agriculture, agri-food industries, manufacturing, and processing.
He also announced preparations by the Council for the ninth edition of the Financing Investment and Trade in Africa (FITA) Forum, scheduled for April 28–29, 2026, in Tunis.
In the same context, Anis Jaziri stated that during 2025, the Council’s program successfully supported several companies in various markets, notably Senegal, Burkina Faso, and Nigeria, contributing to improved Tunisian exports to these markets.
This support also enabled some companies to establish a lasting presence in these countries through commercial platforms or industrial investments, as well as to secure financing from within the African continent.
He stressed the Council’s contribution to increasing Tunisian exports to Africa, whose value reached approximately 1.6 billion dinars in 2025, a figure considered satisfactory, adding that he expects this amount to increase during the current year.
Powerful but little-known levers
For his part, Vice President of the Tunisian Association of Capital Investors (ATIC), Mohamed Salah Frad, emphasized Specialized Investment Funds, describing them as a still little-known mechanism.
“These are funds introduced by the new cross-cutting law on boosting investment in Tunisia, allowing funds domiciled in Tunisia to invest abroad without prior authorization, with foreign-currency compartments,” he explained.
These tools, regulated by the Financial Market Council, are beginning to emerge in Tunisia, with five to six funds already operational. They offer Tunisian companies the possibility of acquiring equity stakes and establishing a physical presence internationally, particularly in Africa.
Meanwhile, ATIC President Selma Zouaoui pointed out that beyond bank credit, there is a diverse range of financing solutions, from specialized investment funds and private equity to export credit insurance and guarantees, tools she described as powerful levers that remain insufficiently known.
According to her, the meeting aims to bridge this knowledge gap and to demonstrate, in practical terms, how these mechanisms can be effectively mobilized to support the internationalization of companies.
