Capital Markets

While Tunisia has faced weak economic growth and high inflation in recent years, the country’s stock market continued to grow over the 2016-17 period, even though its contribution to private investment financing remains relatively modest compared to that of the banking sector. Measures to deepen the market, however, are under way, aiming to attract an increased number of small and medium-sized enterprises to the bourse, while improving its security and transparency standards to entice further institutional and foreign investors to join the currently retail investor-dominated exchange. With economic growth expected to continue to pick up, market observers are cautiously optimistic regarding the development of the country’s capital markets. This chapter contains interviews with Bilel Sahnoun, CEO, Tunis Stock Exchange; and Walid Saibi, General Manager, Tunisie Valeurs.