The Tunisian-Kuwaiti Development Consortium (CTKD), organized on March 19, a press briefing dedicated to the presentation of its new identity, which is part of the evolution of its vision and its strategy of investment in Tunisia, in this case opening up to sectors other than its historic activity, namely tourism, which has won since its creation in 1976, the majority of its investments.
The meeting took place in the presence of the president of the Humoud consortium J. Al-Falah. The fund, which will now be called “Ekuity Capital”, has a portfolio of more than 500 million DT in more than twenty listed and unlisted Tunisian companies. In 2015, he carried out a capital increase of 300 million DT. The idea for this new stage will be to invest via tickets from 5 to 35 MD in minority stakes, in companies with strong potential for development and expansion, locally or internationally. The institution will give priority to sectors such as industry, agrifood, financial services, real estate, ICT, etc. For 2019, the planned investment envelope should a priori reach 80 MD, an amount which could however be revised depending on the opportunities.
The new positioning of Ekuity Capital meets the requirements of structural changes in the Tunisian economy, it is the last step in a process started since 2015. The management of Ekuity Capital clarified that the fund does not intend to free up tourism, but diversify its activities according to predefined proportions for each sector, in its portfolio.
The change of name precisely reflects the new inclinations of the company, and a message to the partners for the new orientation, the name of CTKD has long been associated with hotel establishments, especially Abu Nawas, explained the general manager of Ekuity Capital, Mohammad Al-Nemah.