Crowdfunding Emerges as a Promising Solution for Energy Efficiency and Renewable Energy Projects in Tunisia
Crowdfunding, or participatory financing, is emerging as a promising solution to support energy efficiency and renewable energy projects in Tunisia. A recent national forum, organized by the Agency for the Promotion of Industry and Innovation (APII), in partnership with the National Agency for Energy Management (ANME) and the Greenov'i project, brought together public institutions, crowdfunding platforms, experts, and consultants to discuss the potential of this largely untapped resource.
Expert Insights
Adam Mokrani, a lawyer and business law consultant, was present to provide his legal expertise. He highlighted Tunisia's pioneering role in the region, noting that the country's first crowdfunding portal was created in December 2023. There are three main categories of financing: donations and grants, loans, and investment crowdfunding in securities. However, according to Mokrani, the regulatory framework remains incomplete. "Almost all regulators have published their application texts, except for the Central Bank of Tunisia. A circular specifying the applicable interest rates for loans is still missing."
Challenges and Limitations
The challenges also concern non-resident investors: "Since the Tunisian dinar is not convertible, the repatriation of funds or the repayment of loans is a significant barrier for Tunisians living abroad." Another sensitive point is the legal status of projects. Community or non-profit initiatives are excluded, whereas in other countries, donations are largely based on this type of project. Mokrani also drew attention to the promotion of campaigns. "The law limits advertising to the platform level, which is contrary to the very essence of crowdfunding."
Fiscal and Regulatory Framework
On the fiscal and regulatory level, "preparatory work needs to be done between the Central Bank of Tunisia, the Ministry of Finance, and the Cepex to clarify the tax regime for transactions with foreign countries and ensure better control of operations." According to Mokrani, crowdfunding can play a strategic role in the development of renewable energy. "An international benchmark shows that several countries use alternative financing to boost their industrial and energy strategy. In Tunisia, a project for a national institutional platform is underway."
Conclusion
Mokrani's message is clear: "Crowdfunding is not blocked, but its potential remains hindered by legal and financial obstacles. Stronger involvement from regulators and a more flexible framework would allow for the release of this lever for green energy and energy efficiency." By addressing these challenges and limitations, Tunisia can unlock the full potential of crowdfunding to support its energy transition and promote sustainable development.
