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Wednesday 23 June 2021
HomeNewsTunisia: US fund injects $ 1.3 million in SME operating in olive

Tunisia: US fund injects $ 1.3 million in SME operating in olive

The Tunisian American Enterprise Fund (TAEF) and STTGO, a company that operates in the valuation of olive pomace in KSOUR ESSEF in the governorate of Mahdia, recently signed a financing agreement.

1.3 million US dollars is the amount that will be made available to the STTGO to support its development program. This is the first initiative of its kind for the US fund in the olive oil sector in Tunisia.

The company founder and CEO, Adel Khalifa, expressed his satisfaction and said that with this amount, the extension of his company will be quickly completed to allow greater

expansion of activities. For example it is expected to hire 150 new agents. Furthermore the STTGO is eyeing Spain to sell its products there, without intermediaries, which will reduce costs.

The company, founded in 2008, is totally exporting.

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