4 Tunisia based FinTechs transforming the African finance industry

By Gloria Methri

Africa is home to several widely differentiated FinTech hubs. Some of these hubs, such as Nigeria or South Africa, have emerged as dominant destinations for FinTechs in the continent. Many others, though small, remain interesting spaces to watch. Tunisia is one of them.

In 2020, the Central Bank of Tunisia (CBT) launched a regulatory sandbox, enabling FinTechs to test their solutions in a controlled environment. Other initiatives in the country, such as its 2018 Startup Act, and the La Poste Tunisienne (Tunisian Post) service, provide further support to the growth of its FinTech ecosystem. As of October 2022, there are 28 FinTech start-ups in Tunisia, as per Traxn.

Let’s look at four of these emerging FinTechs in the North African country.

• BITAKA Tunisie

Founded in 1999, Bitaka provides mobile banking solutions including mobile transfer, m-wallet, and mobile proximity payments among others. It also manufactures sim cards, recharge cards, loyalty cards and programs, health cards, fuel cards, and kiosk terminals among others.

• Kaoun

Kaoun is software for the financial services industry. It offers Flouci, a payment solution offering eKYC, mobile payments, and credit solutions built with distributed ledger technology. It also provides Flouci Business for businesses to monitor their daily transactions and revenues. Additionally, Kaoun offers Botkeji that automates processes within the bank, and ensures real-time access to different banking services.

• Axe Finance

Founded in 2004, Axe Finance is a Credit Process automation and Risk Management form. Its solutions help to manage the credit life cycle and optimize firm-wide credit and risk processes. The firm addresses both operational and analytical requirements of lending institutions by automating lending decisions and risk measurement techniques.

• Catrim Tech

Catrim Tech provides front and back-office management solutions for the investment banking industry. Its solution help improves investment performance and client communication. Its features include real-time market data, portfolio management, risk management, automated reporting, treasury services, and cross-asset front office management.