As of August 21, 2026, foreign participation accounts for 18.25% of the capitalization of the Tunisian stock market. But this average hides a much stronger concentration than it appears: SFBT and Attijari Bank alone account for about 59% of the market value held by foreigners. And the companies with the highest foreign ownership rates are not necessarily the ones where the money in value lies.
The figure of 18.25% is the one that is spontaneously recalled when people talk about foreign presence on the Tunis Stock Exchange. Relative to a total capitalization of 48.184 billion dinars, it represents about 8.8 billion dinars of market value held by foreign investors as of August 21, 2026. At the end of 2025, this share stood at 18.89%.
But this average gives a very incomplete picture of the market. The breakdown published by BVMT shows first very large differences in ownership rates from one company to another. Moreover, when moving from the percentage to the amount actually represented on the stock market, the hierarchy changes profoundly.
Two companies, SFBT and Attijari Bank, account for about 5.2 billion dinars of market value held by foreigners on their own.
