Capital Markets

Tunisia has an active stock market that has seen a large number of equity listings in recent years. Furthermore, there are regular government and corporate bond issues, though the secondary market is relatively shallow and bond trading activity is minimal. Both markets, and particularly the corporate bond segment, are dominated by the financial sector. Following strong growth in 2014, the country’s all share index, Tunindex, had a good first half of 2015 but lost all of the period’s gains following a terrorist attack in June that dented economic confidence. Industry players are hopeful that the market will perform better in 2016, and the Tunindex’s strong growth prior to the attack, as well its good start to 2016, suggests that such hopes may well be fulfilled, provided the security environment fully establishes. This chapter contains an interview with Bilel Sahnoun, CEO, Tunis Stock Exchange; and a viewpoint from Fadhel Abdelkefi, General Manager, Tunisie Valeurs.