Microfinance in Tunisia: Enda Tamweel increases its capital by 72 million Tunisian dinars with the entry of six international investors (باللغة الإنجليزية فقط)


Tunis, 25 April 2018 – Enda Tamweel has successfully completed a reserved capital increase of 72 million Tunisian dinars. The development will enable Enda Tamweel to mobilize more debt financing in order to serve a greater number of microentrepreneurs in Tunisia, meet their growing microcredit needs, and contribute to the financial inclusion of populations excluded from the traditional financial system.

The amount was fully subscribed by six international investors: BIO (Belgium), PROPARCO (France), the SANAD Fund for MSME (Luxembourg), SIDI (France), TRIODOS Investment Management (Netherlands), and WWB Capital Partners (United States).

This investment once again attests to the interest shown by these international financial institutions in Enda Tamweel in particular and in the microfinance sector in Tunisia in general, and strengthens Enda Tamweel’s long-standing strategic partnership with these institutions.

The NGO Enda inter-arabe will remain the main shareholder of Enda Tamweel.

Essma Ben Hamida, Executive Director and co-founder of Enda Tamweel, said: “We have achieved our dream of seeing the small microcredit project launched in 1995 with USD 20,000 turn into a strong microfinance institution serving thousands of Tunisian women and men who were previously deprived of access to financial services.” She added, “This capital increase is part of pursuing the institution’s new development plan, launched in 2013 with the aim of consolidating its achievements and preparing it for future growth in order to contribute to economic development and social stability in Tunisia.”

Since pioneering microcredit in Tunisia in 1995, Enda has granted more than 2.8 million loans with an equivalent value of 3.3 billion Tunisian dinars to 730,000 Tunisian microentrepreneurs. With its network of 86 branches and 3 mobile branches employing a total of nearly 1,700 people, Enda Tamweel currently serves 337,000 microentrepreneurs across the country with its portfolio of around 510 million Tunisian dinars.

Michael Cracknell, Chairman of the Board of Directors and co-founder of Enda Tamweel, lauded the six international institutions that share the vision and social mission of Enda Tamweel and its founders. They are all convinced of the great potential of microfinance in Tunisia, especially provided proper regulatory conditions are ensured. “This international investment will have a direct impact on job creation across the country. We are proud to see the culmination of nearly 30 years of commitment and effort to serve those previously excluded from the financial system,” said Cracknell, thanking investors for their trust and support.

International investors also stated: “We are honored to be able to participate in Enda Tamweel’s enterprise. The strength of Enda Tamweel is its motivation and its very clear social project to enable the most disadvantaged of Tunisian society to invest in their future and realize their dreams. With the challenges facing Tunisia today, Enda Tamweel’s service, especially toward young people and women, is more relevant than ever – enabling them to participate in economic development and share the fruits of it.”

The capital increase will provide Enda Tamweel with the resources necessary to carry out its ambitious development plan and increase its microcredit grants to vulnerable parts of society in order to improve financial inclusion. Microentrepreneurship contributes significantly to the country’s economic development and to promoting the self-employment of young people and women in disadvantaged neighborhoods and rural areas.

To carry out this investment, Enda Tamweel was assisted by Mediterranean Corporate Finance (MCF) as lead advisor; Tunisie Valeurs and Cabinet Hedda-Ellouze-Felli as legal advisor; and Ajay Bhandoola, an international consultant.  

About Enda Tamweel

Created by the international non-governmental organization Enda inter-arabe, a pioneer of the microfinance sector in Tunisia, with 337,000 active customers and a portfolio exceeding 500 million dinars, Enda Tamweel currently covers 80% of the Tunisian micro-finance market.

Ensuring the financial inclusion of vulnerable populations, focusing on women, youth and rural populations. By promoting self-employment through the promotion of entrepreneurship, Enda Tamweel makes a strong contribution to the country’s economic development. It helps a large number of young people and women to earn their living through their own efforts and to regain their dignity. For more information, please visit:

About BIO

The Belgian Investment Company for Developing Countries (BIO) is a Development Finance Institution (DFI) established in 2001 within the framework of the Belgian Development Cooperation.

BIO is tasked with enabling and managing finance allocations from the government’s development cooperation budget to the private sector in the least developed, low and middle-income countries.

The company’s mandate consists in fostering economic growth to achieve sustainable prosperity and poverty alleviation. BIO’s investments are not tied to the interests of the Belgian private sector, and must demonstrate a balance between financial return and development impact.

With the provision of finance and capacity development, BIO enables companies to grow and prosper, generating jobs and building skills. BIO provides tailor-made financial solutions to entrepreneurs, private infrastructure projects, financial institutions and investment companies and funds, combined with support for capacity building programmes. BIO helps companies expand their business, develop new products, improve their processes, but also introduce environmental, social and governance standards that will attract additional sources of investment. To maximize the effectiveness of investments, BIO operates on commercial grounds and conforms to normal market usage. For more information, go to:


Proparco is a subsidiary of Agence Française de Développement (AFD) focused on private sector development. It has been promoting sustainable economic, social and environmental development practices for the past 40 years. Proparco provides funding and support to both businesses and financial institutions across Africa, Asia, Latin America and the Middle-East. It seeks to partner projects in key development sectors – infrastructure (with a specific focus on renewable energies), agribusiness, financial institutions, healthcare and education, etc. – and to boost the contribution of the private sector to achieving the sustainable development goals adopted by the international community in 2015. As a means to this end, Proparco finances businesses that are instrumental in creating decent jobs that pay decent wages, in supplying essential goods and services and in battling climate change.

For more information, go to and @Proparco

About the SANAD Fund for MSME

Established in 2011, the SANAD Fund for MSME finances micro, small and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD thereby fosters economic development and job creation – including youth employment – agriculture, affordable housing, and innovations in finance and financial technologies. SANAD strives to meet these goals by providing debt and equity financing to its local partners. The SANAD Technical Assistance Facility multiplies the fund’s development impact and outreach through capacity-building with partner institutions, developing financial infrastructures according to the principles of responsible finance and conducting much required R&D. SANAD’s investors include the KfW Development Bank, which initiated the fund; the German Federal Ministry for Economic Cooperation and Development (BMZ); the European Union; Switzerland’s State Secretariat for Economic Affairs (SECO); OeEB, the Development Bank of Austria; Germany’s GLS Bank and GLS Treuhand; and the Dutch development bank FMO. A public-private partnership, the fund is advised by Finance in Motion GmbH, Frankfurt am Main, Germany. For more information, please visit:

About SIDI

SIDI, International Solidarity for Development and Investment, is a social investor founded in 1983 by the French NGO CCFD-Terre Solidaire. Its mission is to help consolidate economic activities initiated by the low-income population in Southern and Eastern countries. SIDI turns finance into a flexible tool as to strengthen local development actors and their network, among them (i) microfinance institutions (MFIs), (ii) producers’ organisations (POs) and agribusinesses, (iii) apex institutions, and (iv) entities supporting community-based finance. To achieve greater impact, SIDI initiates long term partnerships with the organizations it supports, financially and technically. For further information, please visit

About Triodos Investment Management

Triodos Investment Management connects investors who want to make their money work for positive change with innovative entrepreneurs and sustainable businesses doing just that. It manages investment funds in sectors such as Energy & Climate, Inclusive Finance and Sustainable Food & Agriculture, with a total value of EUR 3.5 billion. The Triodos inclusive finance funds provide finance to 100+ financial institutions in 45 countries. They hold equity stakes in 25 financial institutions and actively contribute to the governance of these institutions. Website:

About WWB Capital Partners

WWB Capital Partners is an investment fund sponsored by Women’s World Banking, which makes direct equity investments in women-focused financial institutions. Its investment strategy is based on the belief that investors can influence institutions to ensure that women are part of their growth strategy and future profitability. With more than $50 million under management, the fund seeks to demonstrate what Women’s World Banking has been supporting since its inception: providing women with access to financial services is a profitable business for financial institutions, while contributing to economic growth and prosperity of families and communities. For more information, please visit:


Media contact – SANAD

Merle Römer

Manager, Marketing & Communications

Tel: +49 (0)69 271 035-171