TUNISIA – Tunisian microfinance body, Enda Tamweel, has secured US$2.3 million funding by Inma Finance to finance micro-entrepreneurs as well as very small enterprises (VSEs) in Tunisia.
Microfinance body has been in the market since 1995 serving more than 1 million people to date and granting a total of 4 million loans to micro-enterprises in rural settlements.
It also boasts a network of 104 offices and 5 mobile offices with their area of service.
“I hope this funding will mark the beginning of a fruitful collaboration with an actor fully committed to the support of financial and social inclusion,” Enda Tamweel Director-General Mohamed Zmandar said.
The deal will give a boost to the economic fabric by creating jobs and encouraging self-employment among people, mainly women, and youth. Proximity to populations with no access to funding will likewise be increased.
By supporting Enda Tamweel, Inma Finance will be contributing towards the sustainability of very small businesses and job generation amid adverse economic conditions caused mainly by the COVID-19 pandemic.
Enda Tamweel signs financing deal with UBCI
Earlier, the microfinance body, signed an agreement worth 150M dinars with Union Bancaire pour le Commerce et l’Industrie (UBCI).
The funding is in the form of a medium-term loan disbursal in three tranches, at the rate of 50 million dinars each year.
This financing testifies to UBCI’s commitment to the micro-finance sector and the support of micro-entrepreneurs, particularly in the economic context.
The agreement will make it possible to finance support activities for micro-entrepreneurs through micro-credits.
At the service of its Corporate & Institutional clients, UBCI stands out in particular through its experts specializing in the fields of cash management, market activities, investment banking, international trade, leasing, and factoring.
It also offers a wide range of products and services for its Individual and Professional Clientele covering their different universes of needs in terms of day-to-day banking, project financing, bancassurance, and wealth management.
Having become a strategic activity in the service of ambitious responsible commitments, micro-finance at UBCI is now experiencing a great dynamic of growth, positioning it as one of the major players in this sector in Tunisia.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE