Tunis:BCT endeavours to support investment and innovation ecosystem (Marouane el Abassi)

  • 15 March 2020 / News / 464 / Emerging Africa

Tunis:BCT endeavours to support investment and innovation ecosystem (Marouane el Abassi)

"We can only distribute wealth if we create it. This is why the BCT is endeavouring to support the investment and innovation ecosystem, by developing Fin-tech solutions," Central Bank of Tunisia (BCT) Governor Marouane El Abassi said on Tuesday.

Speaking at the 2nd edition of the Business Forum DiafrikInvest organised in Tunis by CONECT in partnership with ANIMA Investment Network, he pointed out that "in addition to the exchange facilities already included in the start-up act, the revision of the exchange code will also be finalised in 2020."

The BCT is seeing to it to make payments more fluid in order to reinforce financial inclusion. "To this end, a software package is being set up between banks and telephone operators.

By the end of March 2020, authorisations will be granted to the first two or three payment institutions in the country," said.

The Issuing Institute is also deploying "to create bridges with the diaspora, in order to better involve it in the revival of investment in the country by opting for a fin-tech approach.

To do this, it has equipped itself with the necessary mechanisms such as the regulatory Sandbox (test environment to support the experimentation of innovative solutions on a small scale and with real customers), and a BCT-Lab and a BCT-Fintech website will also be operational by June," el Abassi indicated.

Besides, he underlined that this investment promotion logic will be promoted during the new negotiations with the IMF, which will be launched as soon as the programme on the extended credit facility ends in May 2020. "We have never stopped negotiations with the IMF.

As soon as the current programme ends, we will start new negotiations and we hope to be able to negotiate a programme that is more bearable for Tunisia and more oriented towards supporting investment."

The Governor urged the new government and parliament to remove all obstacles to investment. "It is inconceivable that everything possible should be done to mobilise funding so that it remains blocked for years at the level of the parliament, as is the case of the €120 million mobilised from the World Bank to finance the Fund of Funds."

For his part, CONECT President and ANIMA Investment Vice-President Tarek Cherif said that the DiafrikInvest project aims to identify entrepreneurs and investors from the Moroccan, Senegalese and Tunisian diaspora who can be mobilised for their countries of origin.

The first edition of the Business Forum DiafrikInvest was organised on November 14-16, 2018 in Tunis."

He specified that "over 70 enterprises are participating in this 2nd edition and more than 120 B2B meetings are scheduled."

Cherif also stressed the importance of the African market for Tunisian enterprises, criticising the non-ratification by the parliament of the Convention of the African Continental Free Trade Area (AfCFTAA).

He also warned against "possible difficulties in the supply of raw materials or exports that Tunisian enterprises could encounter in connection with the coronavirus crisis," calling on the authorities to prepare for such scenarios.

source: tap.info.tn