EC representatives visit Enda Tamweel and Advans Tunisie to discuss development impact in the region

Tunis, April 9, 2019 – On March 14, two investees of the SANAD Fund for MSME (SANAD), an impact investment fund advised by Finance in Motion, welcomed a delegation of representatives from the European Commission’s DG Neighbourhood and Enlargement Negotiations Programme to Tunisia. Led by program manager Malin Elander, the delegates were keen to learn about how the SANAD-supported microfinance institutions Enda Tamweel and Advans Tunisie are contributing to the EC’s latest initiative to strengthen an enabling business environment for small business development and financial inclusion in North Africa and the Middle East.

Enda Tamweel and Advans Tunisie are two flagship microfinance institutions providing targeted financing to entrepreneurs in Tunisia, where micro and very small enterprises account for half of the country’s employment. SANAD has played a key role in the success of both: In April 2018, a SANAD investment supported an increase in Enda Tamweel’s capital base, building the institution’s ability to serve microentrepreneurs and contribute to financial inclusion. In 2013, a SANAD equity investment helped establish Advans Tunisie, and further technical assistance has supported the institution in expanding its outreach to microentrepreneurs in rural regions and other underserved groups.

In addition to discussing the SANAD partners’ growth strategies, key strengths, and current needs, the delegation also met some of the institutions’ microentrepreneur clients. These included soap producer Hallouma Abid, an Enda Tamweel client of 13 years who employs two staff, and Advans Tunisie client Sana Ibrahim, a garment producer leading a workforce of 22 women.

SANAD Board Chairperson Dr. Daniela Beckmann said: “Since SANAD was established in 2011, the European Union has been a valuable contributor to the fund’s capital structure through its Initiative for Financial Inclusion. We were therefore very pleased at the opportunity to present to them first-hand some of the impact that our fund is having in promoting economic development and entrepreneurship in Tunisia.”

Malin Elander commented: “Thanks to the longstanding and excellent cooperation between the European Commission and KfW, together with Finance in Motion as the advisor to the SANAD Fund, we jointly succeed in supporting economic activities through SANAD which are fundamental for people, both in terms of job creation and inclusive growth.”

Brieuc Cardon, General Director of Advans Tunisie, remarked: “Thanks to SANAD’s support, we have been able to expand into rural areas of the country where financial inclusion is even more important, and launch key new products adapted to our clients’ needs. We were very proud to show the EU delegates the work we have been doing to accelerate financial inclusion in Tunisia, and sincerely hope that international organizations will continue supporting Tunisian public and private institutions in these efforts.”

Anis Allouche, CEO of Enda Tamweel, said: “SANAD has supported Enda over several phases of its development, helping us reach some very important milestones. Thanks to the fund’s technical support and investment, Enda and SANAD are having a considerable social impact in Tunisia by contributing to the financial inclusion of vulnerable people through microfinance. We look forward to keeping up the good work with SANAD as a partner.”