The Sanad Fund for MSME (micro-, small and medium-sized enterprises), an initiative that invests in financial institutions in the Middle East and North Africa, recently loaned the local-currency equivalent of USD 6 million to Enda Inter-Arabe (Enda), a financial services provider and Tunisia-based arm of non-governmental organization Enda Third-World, to support Enda’s expansion into poor rural areas of Tunisia; increase product offerings to young entrepreneurs; provide financial services to micro, small and medium-sized enterprises; and promote the empowerment of women. The loan is Sanad’s first debt investment in the country [1].
Search Results for: Tunisia
MICROCAPITAL BRIEF: Advans SA to Create Tunisian Microfinance Institution Advans Tunisie
Advans SA SICAR (Advans SA), a microfinance investment vehicle managed by Horus Development Finance of France, recently announced plans to start Advans Tunisie, a microfinance institution (MFI) that will apply for a license from the Tunisian Ministry of Finance with the aim of launching before December 2013.
MICROCAPITAL BRIEF: Luxembourg Directorate for Development and Cooperation, European Investment Bank, Appui au Développement Autonome Unveil $5.2m Microfinance Project, MicroMED Tunisia
The Directorate for Development and Cooperation (Lux-Development), an agency of the government of Luxembourg, and the European Investment Bank (EIB), the European Union’s lending institution, recently unveiled MicroMED Tunisia, a EUR 4 million (USD 5.2 million), five-year initiative intended to aid the development of the microfinance sector in Tunisia.
MICROFINANCE EVENT: The African Microfinance Transparency to Host 5th Annual Investor’s Fair, Tunisia, October 11-12, 2012
Event name: Fifth Annual Investor’s Fair
Event date: October 11-12, 2012
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Makes $7m Loan to Enda Inter-Arabe Microfinance Institution of Tunisia
The International Finance Corporation (IFC), a member of the World Bank Group that aims to support private-sector development, recently made a local currency loan equivalent to USD 7 million to the microfinance institution (MFI) Enda Inter-Arabe of Tunisia.
MICROCAPITAL BRIEF: Access to Microfinance Boosting Youth Employment in Algeria, Morocco, Tunisia
The Magharebia, a website which covers news about northwest Africa, reports that youth in Algeria, Morocco and Tunisia are increasingly utilizing microcredit to counter unemployment [1].
MICROCAPITAL BRIEF: Tuninvest-Africinvest Announces Close of Maghreb Private Equity Fund III, Investing in Small and Medium-Sized Enterprises (SMEs) in Tunisia, Morocco, Algeria, Libya, Egypt
The Tuninvest-Africinvest Group, a Tunisia-based private equity company that invests in small and medium-sized enterprises (SMEs), recently announced the closing of its Maghreb Private Equity Fund III (MPEF III) with approximately EUR 96 million (USD 134 million) in capital commitments.
MICROCAPITAL BRIEF: Microfinance Portfolio Risk Jumps in Tunisia, Egypt, As a Result of Political Unrest
Sanabel, a network of microfinance institutions (MFIs) in Arab countries, has reportedly released results of a survey of MFIs in Tunisia and Egypt that indicates a significant increase in portfolio-at-risk (PAR) since political instability and social unrest recently broke out in those countries.
MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Microfinance Blog Explores Impact of Tunisian Revolution on Microfinance Regulation
The CGAP Microfinance Blog, which is operated by US-based think tank CGAP (Consultative Group to Assist the Poor), recently posted an article by Mohammed Khaled, CGAP representative for the Middle East-North Africa Region, that explores the impact of the recent leadership change in Tunisia on microfinance regulation in the country.
MICROFINANCE EVENT: European Investment Bank and Sanabel Microfinance Network of Arab Countries To Hold Consecutive Conferences in Tunisia in May
Sanabel Microfinance Network of Arab Countries has announced that it will hold a joint conference with the European Investment Bank (EIB) on the social impact of microfinance on Monday, May 5, 2008. On the following three days, Sanabel will hold its fifth annual conference. These two events will provide attendees with the opportunity to learn about and discuss new trends, challenges and opportunities faced by microfinance in the Arab region. Field trips will be organised for Friday, May 9. Up to 500 microfinance practitioners from the region, as well as major donors, investors and thought leaders are expected from around the world. More details are to follow at the Sanabel conference website and will be covered by MicroCapital.
MICROCAPITAL STORY: European Investment Bank (EIB) Supports Tunisian Microfinance with EUR 2 million Loan to ENDA Inter-Arabe
In a recent press release, the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), a division of the European Investment Bank (EIB) dedicated to the economic development of nine Mediterranean countries1, announced that it granted a long-term loan of TND 3.6 million (EUR 2 million/USD 2.9 million) to ENDA Inter-Arabe, a Tunisian microfinance institution (MFI). Based on an earlier MicroCapital report in July 2006, this marks EIB’s second loan to ENDA, and will be used to generate micro-loans and stimulate local investment.
MICROCAPITAL STORY: Tunisian Solidarity Bank (BTS) Receives African Banker Magazine Trophy for “Micro Credit Bank of the Year”
Tunisian Solidarity Bank earned the “Microfinance Bank of the Year” during the 2007 African Banker Awards in Washington D.C. A total of 15 awards were distributed by African Banker magazine to acknowledge the emergence of an authentic banking system in Africa.
MICROCAPITAL STORY: Enda Inter-Arabe, the Tunisian Microfinance Institution Becomes the Latest Network Member to Join Women’s World Banking
Enda Inter-Arabe (Enda I-A), the first and largest microfinance institution (MFI) in Tunisia has joined Women’s World Banking (WWB), a US non-profit organization that works with 53 MFIs and banks in 29 countries worldwide. Tunisia is the third Arab country, after Jordan and Morocco, to be represented in the WWB network as part of their planned expansion into the Middle East.
Tunisian Techies Take Note: Open Source Meets Microfinance with Grameen Foundation’s Mifos Initiative
The most exciting announcement so far to come out of the Global MicroCredit Summit, is a Grameen Foundation technology initiative called Mifos which has already been around for a while, but is being promoted at the big conference. Mifos is an open source platform for microfinance information technology.
Open Source describes a computer programming language that is available without fees for customization and development of specific needs.
European Investment Bank Expands Microfinance Investment in Tunisia with $950,000 Loan to Enda Inter-Arabe
The European Investment Bank (EIB) will provide a long-term loan of 1,250,000 Tunisian dinars (close to USD $950,000) to Enda Inter-Arabe, a Tunisian-based microfinance institution (MFI). The loan falls under EIB’s Facility for Euro-Mediterranean Investment and Partnership (FEMIP), an umbrella for EIB’s operations in the Mediterranean region since 2002, and may be accompanied by technical assistance.
SPECIAL REPORT: Positioning MFIs to Access Climate Finance – An Interview with Kwashie Agbitor of Accion
A seat next to Kwashie Agbitor (pictured below) was one of the most highly sought-after spots at SAM 2023 in Togo in October. Mr Agbitor has 20 years of experience in Africa and Asia, improving branch operations, credit appraisals, risk management, methodology auditing, product development, client protection and social performance management.
At SAM 2023, Mr Agbitor moderated a discussion titled “Climate funds, an opportunity for financial institutions to scale up sustainable and inclusive financing.” The panelists represented the Tunisian microfinance institution (MFI) Enda Tamweel, the Belgian impact investment firm Incofin, the Kenyan microlender Juhudi Kilimo and the French impact investor Solidarité Internationale pour le Développement et l’Investissement (SIDI).
Bob Summers: How can financial services providers (FSPs) work with climate funds to expand their green lending portfolios?
Kwashie Agbitor: There are numerous opportunities for financial institutions to build their green portfolios with climate funds. Financial institutions can leverage equity, debt and quasi-equity sources of funding from various types of organizations. Climate funds can be used to develop and deploy financial services that support the adoption of green products/solutions and help people recover from climate-related shocks. Given their nature, most climate funders also provide technical support/assistance in addition to funding.
BS: What factors influence whether a climate fund would invest in a particular MFI?
KA: Firstly, the MFI and the investor must
MICROCAPITAL BRIEF: IsDB, La Poste Tunisienne to Replicate Digital Financial Services via Postal Service in Djibouti
Based on their success replicating the digital financial services of Tunisia-based postal service La Poste Tunisienne in Mauritania, the multilateral Islamic Development Bank (IsDB) and La Poste Tunisienne recently agreed to partner to expand the financial inclusion
MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia
Symbiotics Investments, a Switzerland-based investor focused on smaller businesses in low- and middle- income countries, recently facilitated a bond issue channeling USD 10 million to Khan Bank, which serves individuals and companies of all sizes in Mongolia, to support UN Sustainable Development Goal (SDG) 5: Gender Equality. Impact Asset Management (I-AM), a unit of Austria’s C-Quadrat Investment Group, bought the bond through its Vision