Tag: Business

Tunis: Tunisia is playing host on April 23-25 to the Arab Actuarial Conference 2024. The three-day event is held under the slogan "the World from an Actuarial Eye ." Actuaries analyse the financial costs of risk and uncertainty, using mathematics, statistics, and financial theory to assess the risk of potential events. They help businesses and clients devise policies which minimise the cost of that risk. Actuaries are essential to the insurance industry, banks and social coverage. Participants, a total of 800 from several countries, were unanimous the actuarial profession is still ambiguous for many though of strategic importance for finance and economy. The role of the Actuaries is decisive in devising successful economic policies, Chief of Staff of Minister of Finance Zouhair Attalah said in a speech delivered on her behalf. The actuarial profession is of capital importance as it provides a set of solutions to decision makers, whether in business, institutions or human resources management. President of the Tunisian Federation of Insurance Companies Hassene Feki said the actuarial service is the cornerstone of financial stability in Tunisia and the Aran world. Insurance companies can assess risks to mitigate them by means of using actuarial models. President of the Tunisian Actuarial Profession Rassem Ketata said Tunisia can serve as a platform for the actuarial profession in the Arab world and Africa as it boasts several experts in this field. There is need to shed further light on this service in business circles in the country, he added. Chakib Abouzaid, the SG of the Arab Insurance Federation, said the federation amended statutes to include this profession out of conviction of its capital importance. Climate change, he said, requires presently an actuarial approach to assess risks and mitigate economic losses. For rating agencies, Abouzaid said, good risk management has become a key criteria thus the need to embrace the actuarial approach. Source: Agence Tunis Afrique Presse

Tunis: The 4th edition of the «Aerospace Meetings Tunisia» business agreement started, on April 23, in Gammarth (northern suburb of Tunis) on the theme: «Unveiling Opportunities inTunisia's Aerospace Supply Chain.» Organized by the French Enterprise «Advanced Business Events» (ABE), in collaboration with FIPA and GITAS (Groupement des Industries Tunisiennes Aéronautiques et Spatiales), it represents for Tunisia and Tunisian companies a major event for the promotion and development of the aeronautics sector in the country, in terms of attracting FDI, subcontracting, technology transfer and job creation. «Aerospace Meetings Tunisia 2024», which will be held from April 23 to 25, is a major meeting for the aeronautical industry in Tunisia. It has served as a platform for innovation, market development and networking since 2009. This international event brings together key players in the sector to present the latest trends, innovations and opportunities shaping the Tunisian aeronautical landscape. 150 companie s will participate in this event representing 10 countries including Tunisia, according to data presented by the organizers. The number of companies operating in the aeronautics industry in Tunisia amounts to more than 80, 90% of them are exporting companies. These companies provide more than 17,000 direct jobs (more than 1,500 direct jobs created each year). Three workshops will be organized on April 24, and will focus on the «Presentation of the National Strategy in Space Technologies», «Industrial investment in the aeronautics sector» and «The aeronautics industry in Tunisia: Diversity and Excellence.» Source: Agence Tunis Afrique Presse

Tunis: The net banking income of state-owned BNA Bank stood at TND 270 million in late March 2024, up 7.5% compared with the same period in 2023, according to its activity indicators published by the Tunis Stock Exchange. BNA's banking operating income rose by 8.9% to TND 576 million in Q1 2024. Likewise, banking operating expenses were up 10% to TND 306 million and total operating expenses rose by 4.7% to TND 90 million. Outstanding customer loans, net of provisions and reserved agios, fell slightly by 0.2% to TND 13,892 million. Between March 2023 and March 2024, customer deposits grew by 11% to TND 12,153 million. The investment securities portfolio increased from TND 4,612 million MD at the end of March 2023 to TND 5,936 million at present, mainly as a result of subscriptions to the national loan and the BTA acquisition. Source: Agence Tunis Afrique Presse

Tunis: The weather Tuesday is temporarily cloudy in most regions, getting gradally very cloudy in the afternoon in western regions of the north and midland with scattered and temporarily stormy showers, then locally in western regions, sometimes very heavy during the night. The wind is blowing north in the north and midland and east in the south, relatively strong near coasts and light to moderate elsewhere. The sea is choppy to very choppy. Temperatures slightly down with highs ranging between 15°C and 21°C in the north, on heights and near coasts and 22°C and 26°C elsewhere. Source: Agence Tunis Afrique Presse

WINDHOEK: President Nangolo Mbumba has called on traditional leaders to embrace development and economic projects, even if some of these projects may seem unfamiliar to them. During a meeting with leaders of the Daures Daman Traditional Authority at State House on Monday, Mbumba noted that three years ago, the concept of green hydrogen was unfamiliar in Namibia. Today, Mumba said the emerging industry has demonstrated economic potential, while citing the Daures Green Hydrogen Village as an example. This project is expected to come into operation in July 2024 and expected to produce renewable energy, hydrogen, and ammonia. Mbumba said traditional leaders have a role to play in economic activities including availing land to new projects in their jurisdictions. 'That is what all of us are doing, trying things we have never seen before, we have never done before. But if those things are bringing development to our communities, to our constituencies and our country, let's try them,' the president said about av ailing land to investors. 'So we should not doubt that what we are trying to do is somehow a mistake, the land they can never take it away. They can do a few things on it but they will never take it away.' Chief Zacharias Seibeb of the Daures Daman Traditional Authority accompanied by the management of the Daures Green Hydrogen Village including its chief executive officer Jerome Namaseb, paid a courtesy visit to President Mbumba. They briefed him on the progress of the green hydrogen project in the Erongo Region. Chief Seibeb explained that, although he was unfamiliar with the concept, the Daures Traditional Authority made a decision to allocate 15 000 hectares to the green hydrogen project. 'I had to put my hand in the darkness for my community and Namibians at large, this because green hydrogen was not known to myself or Namibia. But [the] little I heard from the young Namibians was not a risk or threat to the environment and the communities,' he relayed. 'This programme is designed to enable Namibian s to be part of the green hydrogen as introduced to us by our partners in the project. During many consultations we had, we were excited about this new development which we foresee to bring about the much needed opportunities in the area,' the chief said. Source: The Namibia Press Agency