Tunis' new energy strategy fails to convince foreign investors
Tunisia has been trying to attract new foreign investors to its energy sector. But red tape and other administrative hurdles make many firms wary.
In founding a renewable energies company, Jonathan Taylor and James Berwick are remaining within their domain of expertise while at the same time trying to move out of oil and gas. This has caught the attention of the Tunisian PM thanks to the connections of their advisor Mehdi Ben Abdallah.
Tunisia, which has been given an official warning by the IMF and had its credit status downgraded by the ratings agencies, is struggling to cope with an external debt which currently stands at close to 100% of its GDP and is weighing heavily on its finances.
The majors present in Tunisia, already struggling to contend with Covid-19, could leave the country altogether because of the highly volatile social situation there. New energy and mines minister Salwa Sghaier is taking up her post at a time of tension in the Tunisian oil sector.