Tunisia | - Part 3

AfricInvest invests in Azalaï Hotels SA

TUNIS (Capital Markets in Africa) – AfricInvest III LLC, a fund managed by AfricInvest Group has completed a EUR17.3mn equity investment in Azalaï Hotels SA, the holding company of one of the main Pan-African hospitality groups in the ECOWAS region with nine hotels representing a total capacity exceeding 1000 rooms. “AfricInvest is partnering with Azalaï for the implementation of the group’s regional growth strategy, focusing on three main areas: (i) regional expansion, (ii) increased capacity,…

AfricInvest exits Tunisia’s Cotugrain Hortimag

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – AfricInvest, a Pan-African midcap private equity firms, announced that its Maghreb Private Equity Fund II (MPEF II) has successfully sold its 20.06% stake in the Group Cotugrain Hortimag (Cotugrain Hortimag) to a consortium composed of BIAT Capital Risque (the private equity fund of BIAT, a leading private-sector bank in Tunisia) and the company’s owner, Mr. Adel Ghariani. Cotugrain Hortimag is a Tunisia-based leader in the production of seeds, fresh…

Tunisia reaches deal with Petrofac protesters, in company talks

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TUNIS, Capital Markets in Africa: Tunisia has reached a deal with protesters who have disrupted gas production by Petrofac for months, the government said on Friday, part of an effort to stop the British energy firm closing its business. Petrofac, which supplies 13 percent of Tunisia’s gas through the Chergui venture in the south, officially informed the government this week that it had started shutting down its local gas operations. Since January Petrofac has had…

Investment | Actis invests in leading Maghreb Pharmaceutical business Medis

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TUNISA, Capital Markets in Africa: Actis, a leading growth markets investor, today announced a significant investment in Medis Group (Medis), a prominent branded generic pharmaceuticals business in Tunisia and Algeria. Actis has acquired a meaningful stake in the business from Africinvest, one of the key PanAfrican Mid-cap PE players, and from the founding Boujbel family. Actis will also inject further funds into the business to finance a buy-and-build strategy to create a leading pan- African…

Rising Energy-Import Bill Deepens Tunisia’s Economic Troubles

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TUNIS, Capital Markets in Africa: Social and political unrest in Tunisia is reducing energy production, adding to the economic pressure on the fragile nation that was the only real success story to emerge from the Arab Spring. The North African country’s energy-import bill has risen 45 percent to 5.5 billion dinars ($2.5 billion) since 2010, government data show. Domestic oil production dropped by about a quarter over the same period to 63,000 barrels a day last year, according…

Harnessing Maghreb’s Growth Potentials: A Private Equity Perspective

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LAGOS, Nigeria, Capital Markets in Africa: Very often investors wonder whether investing in the Maghreb is beneficial and delivers high returns. There are several reasons why this region is more attractive than other emerging markets in the world. In the Maghreb countries, future growth expectations tend to be high, competition levels are rather low and markets relatively stable. Also, there is usually a strong pipeline of good companies in fundamentally good sectors. Another important element…

Tunisia | Moody’s recalibrates Tunisia’s national rating scale

Posted on by The Editorial Team

Tunis, Tunisia, Capital Markets in Africa: Moody’s Investors Service has repositioned the national scale ratings (NSRs) of four tranches in two Tunisian structured finance transactions in conjunction with the recalibration of the Tunisian national rating scale. NSRs, which provide a measure of relative creditworthiness within a single country, are derived from global scale ratings (GSRs) using country-specific maps. The adoption of a revised correspondence between Moody’s GSRs and the Tunisian national scale follows the publication…

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