Tunisia
Tunisia, a vibrant country in North Africa, is renowned for its rich history, diverse culture, and strategic location. With a population of 12 million, Tunisia’s economy focuses on tourism, agriculture, manufacturing, and a growing technology sector.
Despite the COVID-19 pandemic, Tunisia demonstrated economic resilience, contracting by 8.8% in 2020 but rebounding with 3.1% growth in 2021, fueled by tourism recovery and agricultural exports. In 2022, foreign investment and international tourism contributed to an estimated 2.5% GDP growth.
Tourism in Tunisia is a major economic driver, generating employment and GDP contributions. Destinations like Tunis, Sousse, and Hammamet attract millions of visitors annually with ancient Roman ruins, medinas, and Mediterranean beaches, making Tunisia a top travel destination.
Strategically located, Tunisia is a trade hub, leveraging membership in the African Continental Free Trade Area (AfCFTA) and the Arab Maghreb Union. The government invests in ports, infrastructure, and transportation networks to enhance trade and attract foreign investment.
Tunisia is actively diversifying its economy, promoting technology startups, renewable energy projects, and advanced manufacturing. The Tunisian startup ecosystem is growing, particularly in Tunis and Sfax, supporting digital innovation and entrepreneurship.
Inflation in Tunisia was around 6.5% in 2023, influenced by global market conditions, while the Central Bank of Tunisia maintains a cautious monetary policy to ensure financial stability. Fiscal measures aim to control public debt and strengthen economic resilience.
Sustainable development is a key priority in Tunisia. Projects focus on solar energy, wind energy, and reducing carbon emissions, positioning Tunisia as a leader in renewable energy in North Africa.
Top banks
Tunisia has several popular banks that operate within a structured banking system. Notable banks include Banque Nationale Agricole (BNA), Banque de Tunisie, and Attijari Bank. These institutions provide a range of financial services and are regulated by the Central Bank of Tunisia, which oversees the country's banking system.
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Banque Nationale Agricole (BNA)
A leading agricultural bank in Tunisia, BNA specializes in financing for farmers, agribusiness loans, agricultural development projects, and rural financial services. Known for its customer-focused approach and specialized financial solutions, BNA supports agriculture growth, food production, and economic development across Tunisia.
Banque de Tunisie
Banque de Tunisie – Established in the early 20th century, Banque de Tunisie is one of the oldest and most trusted banks in Tunisia, offering comprehensive retail banking, corporate banking, investment services, and digital banking solutions. Known for its customer-focused financial products, the bank supports economic growth, SMEs, and individual financial needs across Tunisia.
Attijari Bank
Part of the Attijariwafa Bank Group, Attijari Bank is a leading bank in Tunisia offering comprehensive personal banking, business banking, corporate finance, and investment solutions. Known for its innovation, digital banking services, and customer-focused approach, Attijari Bank supports economic growth and financial inclusion across Tunisia.
Top payment methods
Credit and debit cards are widely accepted, with Visa and Mastercard being the most commonly used networks.
Mobile payment solutions are also on the rise, with platforms like D17 and Monétique leading the way. In urban areas, an increasing number of consumers are opting for mobile payments, particularly among younger demographics. E-commerce is thriving in Tunisia, with online payment platforms such as PayPal becoming popular for international transactions.
D17
The D17 app is significantly reshaping Tunisia's financial landscape by offering digital financial services to a broad segment of the population, particularly those without traditional banking access. Developed by La Poste Tunisienne, D17 provides accessible financial tools like peer-to-peer transfers, bill payments, and cash-in/cash-out options, which are essential for promoting financial inclusion across all demographics. By enabling easy registration with just a national ID and mobile number, D17 ensures that even rural and underserved communities can access basic financial services, fostering greater economic participation.
Furthermore, D17's partnership with government institutions allows the app to serve as a platform for distributing government subsidies and aid, making it a reliable means of financial support for citizens. Its alignment with Tunisia's cashless society goals underscores its role in the country's broader digital transformation efforts, supporting secure and transparent transactions while reducing dependency on cash. Overall, D17 is a pioneering tool in Tunisia’s journey toward a more digital and inclusive economy, empowering individuals and small businesses to thrive in the digital era.
Monétiq
Monétiq represents a significant advancement in Tunisia’s fintech sector, established through a collaborative effort among Tunisian banks to streamline and expand digital payment options. This initiative supports Tunisia's broader vision of a cashless economy by equipping businesses with centralized, secure tools to accept digital payments, whether in physical stores or online. Monétiq simplifies payment processing for merchants by providing a unified platform that eliminates the need for multiple agreements with individual banks, making digital payments more accessible and practical for a wide range of businesses, including small and medium-sized enterprises.
Monétiq’s emphasis on security and regulatory compliance also builds consumer trust, an essential element for fostering widespread adoption of electronic payments. By supporting e-commerce and enabling broader access to digital financial services, Monétiq plays a vital role in promoting financial inclusion across Tunisia. It helps to bridge the gap for unbanked or underbanked populations, providing them with a gateway into the formal economy and encouraging a more transparent, efficient financial landscape. Through its services, Monétiq is not only modernizing Tunisia’s payment infrastructure but also empowering economic growth and inclusivity, positioning Tunisia as a digitally forward economy in the region.
PayPal
PayPal is accessible in Tunisia for international payments, but its usage is limited by several restrictions. While Tunisian users can create PayPal accounts and make payments for online purchases, they cannot receive funds directly into local bank accounts. This limitation makes PayPal less practical for both individuals and businesses in Tunisia who rely on receiving payments. Additionally, the inability to withdraw funds locally further restricts the platform’s functionality, particularly for freelancers and businesses.
Despite these challenges, PayPal remains a popular tool for Tunisians involved in international trade, e-commerce, and freelancing. Many use PayPal to receive payments from global platforms like Upwork and Fiverr, where PayPal is widely accepted. However, due to its limited features in Tunisia, local alternatives such as D17 and Monétiq are often preferred for transactions within the country.
Concluding remarks
Tunisia is poised for growth as it navigates the complexities of a post-pandemic world. The country's strategic location, rich cultural heritage, and commitment to economic diversification position it as a key player in North Africa's economic landscape. As Tunisia continues to embrace digital transformation and sustainable development, it is well on its way to becoming a dynamic hub for trade, tourism, and innovation in the region.
Cash (Tunisian Dinar)
Cash remains a widely used payment method in Tunisia, especially in local markets and smaller businesses. The Tunisian Dinar is the official currency, and cash transactions are common due to the preference for tangible currency in many transactions.
Credit and Debit Cards
Credit and debit cards are increasingly accepted in Tunisia, with Visa and Mastercard being the most prevalent networks. These cards are commonly used in urban areas at retail stores, restaurants, and hotels, providing a convenient payment option for consumers.
Mobile Payments
Mobile payment solutions are gaining popularity in Tunisia, with services such as D17 and other local applications allowing users to make transactions via their smartphones. This trend is supported by the growing smartphone penetration in the country.
Online Payment Platforms
The e-commerce sector in Tunisia is developing, with platforms like PayPal and local payment gateways being utilized for online transactions. The rise in online shopping is bolstered by improvements in logistics and delivery services.
Bank Transfers
Bank transfers are frequently used for larger transactions, including real estate purchases and business payments. Tunisia's banking system is integrated with international financial networks, facilitating cross-border transactions.
Prepaid Cards
Prepaid cards are popular for specific purposes, such as travel and online shopping, allowing users to control their spending effectively.
Cryptocurrencies
The use of cryptocurrencies for everyday transactions is still limited in Tunisia. However, there is a growing interest in blockchain technology, and the government is exploring regulations to support digital assets and crypto exchanges.
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