Tunisie Telecom To Launch Venture Capital Arm ‘Diva Sicar’

Tunisie TelecomMontassar 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.