A few weeks only after selling its 99.8% stake in Goulette Shipping Cruise, Tunisian investment firm El Karama Holding decides to sell its 88.8% stake in Société Touristique Golfe (STTG).

STTG, whose shares will be sold to local and foreign investors, is a tourism development firm that exploits complexes of the Tunis-Côtes touristic area in Carthage including hotels, leisure and congress spaces.

Let’s recall that El Karama Holding, which is owned by the Tunisian State, has initiated some while ago a process to sell many of its assets. The group runs more than 50 companies through direct and indirect stakes across various sectors such as telecommunications, real estate, financial services, agriculture and education.

Chamberline Moko