The privatization process in Tunisia is starting to run out of steam, though not from lack of support for the program from the government. It has instead become a victim of its own success, as the state is beginning to run out of assets of interest to investors. Although the program is ongoing, the pace at which it is moving is less than in the past. On Jan. 12, Direction Générale de la Privatization, Tunisia’s privatization authority, announced it was calling for tenders for a 76% stake in the state-owned retail chain Magasin Général. The winning bid for the profit-making chain of 43 outlets is set to be made public in the second quarter of 2007. Bids have also been called for the privatization of state-owned electrical transformer and power and solar water heater producer Société Anonyme de Constructions Electromécaniques (SACEM). As with the sale of Magasin Général, Banque d’Affaires
