Startups in Tunisia have a special offer from their country’s government. The Tunisian House of People’s Representatives (HPR), has passed a loan agreement amounting to €66.9 million (about 208.580 million dinar) to support startups and innovative SMEs in the country.
Here What You Need To Know
- The loan agreement, signed between the Republic of Tunisia and the International Bank for Reconstruction and Development (IBRD) on January 30, 2020, aims to help Tunisia achieve the objectives of a five-year programme for the creation of 1,000 startups and consequently the creation of 10,000 jobs.
- The programme also aims to achieve a cumulative turnover of 1 billion dinars and to set up a giant Tunisian start-up with global reach (ICORNE).
Read also: Tunisian Startups Can Now Benefit From World Bank $75m Fund For Startups
- Last year, the World Bank Group announced US$75 million fund to support the Tunisian government’s “Startup Tunisia” programme.
- The Startup Tunisia programme is led by the country’s Ministry of Communication Technologies and Digital Economy and aims to encourage the creation and growth of tech startups and digital small businesses.
- The project is a seven-year Project which will provide a comprehensive package of financing, ecosystem and firm-level support, and project management and capacity building. It will run until 31 December 2026 and includes the provision of equity and quasi-equity investment in startups and small businesses.
- The US$75 million Tunisia Innovative Startups and SMEs project aims to catalyze the creation and growth of digital, innovative startups and SMEs, and boost economic and employment opportunities for Tunisian youth.
- In May last year, Tunisia passed a startup act which includes 20 measures that aim to encourage entrepreneurship, make it easier to start a business, as well as access funding and international markets.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer