ICF visits the Tunisia Stock Exchange
November 25, 2013
A project well positioned to become a centre of excellence. That is what William Asiko, ICF CEO, called the Tunisia Stock Exchange Capacity Building project when the ICF senior management team visited it recently.
The CEO, COO and Project Director visited the Tunisia Stock Exchange (TSE) to see firsthand the progress being made by the ICF-funded project. The project was set up to encourage local investors, especially small and medium enterprises, to list on the TSE as a way to leverage funding for their businesses.
The project is focusing on promoting stock literacy among current and potential investors, and strengthening the training capacity of the Tunisian Stock Market Training Institute to broaden the geographic scope of its interventions.
Thanks to the project, the TSE has listed 9 new companies in 2013 and is expecting to list another 5 before the end of the year. The value of these new companies is over 1.2 billion Tunisian Dinars (approximately US$ 721 million).
So far, the project has trained 427 people, including 300 lawyers, 50 journalists and 77 professionals. The professionals have been trained in Islamic Finance, Corporate Finance and Asset Management. About 60 of the professionals have successfully passed exams accredited by the Chartered Institute for Securities and Investment (CISI).
“As a result of this project, financial analysis and economic analysis in the press have improved significantly,” said Adel Grar, a board member of the TSE and the Security and Exchange Commission.
William Asiko acknowledged the progress made. “The project is well positioned to become a centre for excellence for future ICF stock exchange projects,” he said.
The Tunisian Governor of the Central Bank, Chedli Ayari, expressed his great support for the project and urged for further intervention in promoting the financial market as a whole.