University

Maghreb Summer season College of the Monetary Sector: “Funding Financing for Corporations”

Under the patronage of the Minister of Economy and Planning, the Tunisian Association for the Promotion of Financial Culture (ATCF) in collaboration with the Maghreb Union of Banks 5.e Publication of the summer university on the theme “Financing investments for business” in Hammamet-Sud from September 23-25, 2022.

After the first day and the official opening of the event by the Minister of Economy and Planning, Samir Saied, the audience will discuss the topic “The role of banks in innovation and investment financing policy” in the first panel. . In this panel moderated by Bilel Sahnou, CEO of the Tunisian Stock Exchange, a number of interventions to enrich the discussions, especially Dhafer Saidane, Full Professor, Head of Department of Finance and Fintech, “Skema Business School-Côte d’Azur University”, Mahmoud Zouaoui, Head Office of the Minister of Higher Education and Scientific Research and professor of higher education, professor at Harvard, graduate of the Paris School of Mines and former Minister of Equipment, Regional Planning and Sustainable Development Hedi Larbi and Aram Belhadj, teacher-researcher Nabeul Faculty of Economics and Management and expert of several international organizations consultant.

The second panel will be moderated by Hafedh Gharbi, Chairman of the General Insurance Committee, and will be devoted to the topic “Insurance industry facing emerging risks: insurance solutions”. During this panel, Gaif (General Arab Insurance Federation) Secretary General Chakib Abuzaid, new era and new challenges and “emerging risks and challenges/opportunities for the insurance industry”. The topic will be “Evolving risks and insurance solutions – the case of Algeria” by Samir Chemmame, deputy director general for finance and risk management of the national insurance company. For Monia Ghali, Tunisia-Re’s director of conventional subscriptions, she will talk about “emerging risks and insurance solutions”.

Rich and varied discussions

The topic of the second day, which will be moderated by Houda Hamdi, head of the internal audit and compliance department of Lloyd Assurances, university professor and member of the scientific committee of ATCF, will be “Financing of investments with equity”. In this third panel, distinguished speakers namely Faycel Derbel, Chartered Accountant, Honorary President of the Tunisian Order of Chartered Accountants, former advisor to the head of government and university lecturer, Amor Bouzaouada, CEO of Apii, former CEO of Citiba and Cncc, Samir Regaieq, former bank manager, business development, consulting trainer, expert in private sector development and regional entrepreneurship promotion and donor expert, former executive director of CMF and founding manager of “Fin Partner” Cyrine Bach Baouab “, Salah Ben Youssef, former Minister of Industry, business management expert-consultant and Karim Sethom, chartered member of the Tunisian Order of Specialist Accountants. The speakers were “mechanisms of financing investment projects”, “funding of startups: the economic logic of the investment project and sources of financing of startups in Tunisia”, “incentives for the creation of innovative business” and “Investment with the project will discuss the financing mechanisms and their role”. Tunisia Investment Fund”.

The topic of the fourth panel, moderated by Kamel Naoui, director of the business school, will be “Alternative financing of innovative investments”. Néjia Gharbi, Managing Director of CDC and President of the Board of Directors of BNA, will speak about “financial mechanisms for startups and innovative SMEs”, Douja Gharbi, CEO of Redstart will deal with the topic “Crowdfunding: alternative financial mechanisms”. , Vice President of “Carthage Business Angels” Nazeh Ben Ammar will open a debate on “funding of innovations by private capital investors”. In turn, Mondher Khanfir, an international expert in the field of entrepreneurship and startups, will talk about “public policy in terms of investment financing: causes of failures and recovery strategies” and Hatem Khanoufi, an expert in finance, banking and SMEs. USAID’s “Tunisia Affairs” program will introduce the “Joussour Invest” platform.

“Funding ESG investment: fad, belief or financial logic?” It will be the topic of the last day of the event moderated by Faouzi Abderrahmane, former Minister of Employment and Vocational Education and member of ATKF Scientific Committee.

The investment turned towards innovation

The role of investment in economic growth is generally taken for granted. Investment is good for growth and employment, firstly because it increases the demand for goods and services and then improves the conditions of supply. Thus, investment support is an essential element for strong and sustainable development. Nevertheless, it is important to focus on new types of investment, focused on innovation and more digital. According to the press release of the organizers of this fifth edition of the Maghreb Summer University of the financial sector, “the most important investment is the know-how and know-how of human capital. These two ultimate goals should then focus on youth learning, which could include Maghreb mobility and the success of the energy transition to a low-carbon economy. For this, it is necessary to find means of financing for these long-term investments and with collective risk. The challenge of financing investments in the Maghreb is to ensure the right fit of the “funding triangle” between legitimate expectations, but in potential tension: more innovative and therefore riskier investments; abundant but careful saving; a safer financial system after health and geopolitical financial crises. Ambitions of the Funding and Investment Union: diversification of financial opportunities for business; Better consolidation of savings in the Maghreb region and long-term orientation of Maghreb savers. “Funding should develop primarily due to its nature.”

According to the same source, “banks and financial institutions do not encourage the financing of disruptive investments. Thus, bank investment financing remains largely in the form of medium-term loans or leasing secured by a physical asset. However, start-up or growing companies need more capital than loans, and banks cannot meet these expectations directly. Thus, in the face of wider needs, companies should be able to diversify their financial instruments. A “technological frontier” economy, which has to innovate and therefore take more risks, should be financed by more capital. Banks should act by innovating in cash loans and long-term working capital financing to VSEs. The development of alternative proposals around crowdfunding and crowdfunding is another positive stimulus. Capital should not be lacking globally today and should be channeled into venture capital, but the priority for tomorrow is to shift the growing share of life insurance into equities.”

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