Oil & gas company Zenith Energy set to commence drilling activities in Robbana concession

TUNISIA – Zenith Energy, an oil & gas production company, has announced that it is in the process of finalising plans to commence drilling activities in the recently acquired Robbana concession, onshore Tunisia. The Company intends to drill ROB-3, an infill vertical well, in the proximity of the producing Robbana-1 well (ROB-1), to a total depth of approximately 2,400 metres. ROB-3 will target two proven hydrocarbon-bearing reservoirs in the Cretaceous Upper Meloussi sandstone formation, from which successful production has been achieved from ROB-1 for many years. A production of approximately…

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Flat6Labs launches capacity building program for regional support structures in Tunisia

TUNISIA – North Africa focused startup accelerator Flat6Labs, has launched Ignite Tunisia, a capacity building program for regional support structures in Tunisia. Launched by Flat6Labs, funded by the European Union and implemented by Expertise France as part of the “Innov’i” project, Ignite Tunisia is a capacity building program for regional support structures in Tunisia. “Ignite Tunisia was born from a reflection of more than two years,” said Yehia Houry, Managing Director of Flat6Labs. “We were able to identify the challenges encountered by the regional support structures which can range from…

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IFC launches Start Maghreb program for startups in North Africa

TUNISIA – International Finance Corporation (IFC), the main development institution of the World Bank Group focused on the private sector in emerging countries, has launched Start Maghreb to help start-ups based in North Africa. The startup to be helped with the technical assistance program will be in Tunisia, Algeria, Libya and Morocco and will be enabled to grow and develop across North Africa. The Start Maghreb program brings together start-ups, incubators, accelerators, investors, public institutions and donors, in order to share knowledge, identify blocking points and find solutions to promote…

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MCF, TAEF, CDC launch private debt vehicle INMA Finance for MSMEs

TUNISIA – Mediterranean Corporate Finance (MCF), the Tunisian American Enterprise Fund (TAEF) and the Caisse des Dépôts et Consignations (CDC) have announced the launch of the private debt vehicle INMA Finance. INMA Finance is intended to support directly or indirectly (through microfinance or leasing etc.) the development of Tunisian micro, small and medium enterprises (MSMEs) by offering them tailor-made financial instruments adapted to their needs and constraints. “Resolutely turned towards boosting the development of MSMEs and with a view to deploying its Smart Capital in an inclusive and innovative way,”…

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E-tourism startup Wantotrip raises funds from business angels for its development

TUNISIA – Wantotrip, an E-tourism startup that aims to revolutionize travel, has announced that it is raising the funds from investors and Business angels, for its development. Created in 2019, Wantotrip is a travel platform that uses the power of influencer marketing to promote themed, small-group trips operated by partner travel agencies and supported by community leaders. Chahrazed Remadi and Makrem Hermassi, the co-founders of Wantotrip, have succeeded in successfully carrying out their young startup hit by the health crisis and which – not only comes out more solid –…

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SaaS startup Expensya raises US$20m fund to accelerate its product development

TUNISIA – Expensya, a Tunisian French automated spend management solution for businesses, has announced in a statement that it has raised US$20 million in fresh funds from Paris-based MAIF Avenir and Amman-based Silicon Badia. The startup will use the funding to accelerate its product development and international growth as it aims to become the leader for business expense management solutions. The Series B round takes Expensya’s total raise to date to over US$25 million, making it the best-funded Tunisian startup and one of the best-funded SaaS startups of the Middle…

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Game publishing startup Galactech secures US$36k funding from Go-Ventures

TUNISIA – Galactech, a game publishing startup located within the Megrine Business Center, has won the first edition of a challenge organised by Tunisie Telecom (Tunisia’s state-owned telecom company) in partnership with Go-Ventures,  the Tech-startup fund of Go Malta, a subsidiary of Tunisia Telecom. The startup aggregates various entertainment services like video games, Video-on-Demand (VOD) and Media-on-Demand (MOD) through different telecom operators in the Middle East and Africa, in partnership with other startups and content creators in the region.The challenge was intended to support Tunisian startups in their quest for…

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Oil & gas company Nostra Terra set to expand to Tunisia

TUNISIA – Nostra Terra, an oil & gas exploration and production company with a portfolio of development and production assets in Texas, USA, has announced progress with the planned strategic expansion of its portfolio into Tunisia. Exclusive negotiations and preparations have taken place for a large block with existing discoveries, offering both exploration and appraisal activity and new entities have been organised in anticipation of such expansion. Completion of the initial transaction is not certain, however Nostra Terra has exclusivity, has negotiated terms and is waiting final approval. Further updates…

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Zenith Energy set to acquire oil production and development assets in Tunisia

TUNISIA – Zenith Energy, an oil & gas production company, has announced it has made a binding offer to wholly acquire a company holding a 100% interest in two hydrocarbons production and development concessions in Tunisia, which has now been accepted. The Offer is represented by a mix of cash payments and assumption of debt by Zenith for a total consideration of approximately US$200,000. The Potential Acquisitions currently produce approximately 80-100 barrels of condensate per day with 5.5-6 MMSCF of natural gas, which is re-injected into the formation, from the…

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Virtual labs startup PraxiLabs to enhance science education through 3D simulations

TUNISIA – PraxiLabs, a virtual labs startup, is working to provide people with equal opportunities to obtain an enhanced science education by providing 3D interactive virtual simulations that are safe, affordable and accessible anytime, anywhere, for educational institutions and students alike. Launched in 2016, PraxiLabs is an online learning platform providing interactive science labs for students, even enabling scientific experiments that are not doable in the real lab. “While a lot of educational areas have benefited and progressed through ed-tech, the labs situation remained “as is”. It is important to…

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