A 100MW solar power plant is to constructed in Kairouan Tunisia following the awarding of of tender for the development of the project by the Ministry of Industry and SMEs of Tunisia. The tender was awarded to a consortium consisting of TBEA Xinjiang New Energy Co. Ltd. and AMEA Power.
Heetch, a French ride-hailing company with operations in Morocco, Algeria, and Cameroon has raised $4 million funds from Tunisia-based AfricInvest. The fund joins its previous $38 million Series B round and will be used to expand its ride-hailing service in Africa and other countries.
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Higher oil output should boost growth, but structural vulnerabilities, particularly high unemployment and a growing population, are being left unattended by the absence of any major legislative action.
In a move to defuse discontent over economic hardships, Tunisia raised the minimum wage for industrial and farm workers as well as pensions for hundreds of thousands of private-sector retirees by 6.5%.
This partnership capitalises on the pan-African presence of AfricInvest teams (eight offices over the continent) and its in-depth knowledge of the entrepreneurial networks across Africa, as well as the experience and depth of Cathay Innovation's global platform that connects the main technological ecosystems in Europe, China and the United States.