Montassar Ouaili, the CEO of Tunisie Telecom, the first Tunisian telecom operator in Tunisia, recently announced that the company will be launching a venture capital arm in partnership with STB Bank and BH Bank.
The new venture will be called “Diva Sicar“, and will be officially established as a subsidiary of Tunisie Telecom on May 19th.
It will have 20 Million Tunisian Dinars ($US 14 Million) in capital, and will be concentrating on projects in the development, innovation and value-added services areas.
Tunisiana, which is Tunisie Telecom’s only competitor so far in the mobile space, also recently announced a new fund for value-added services.
Tunisie Telecom is 65% owned by the Tunisian state, with the remaining 35% owned by TECOM Investments and Dubai Investment Group, which they acquired in 2006.