SANAD provides EUR 10 million senior loan to Tunisie Leasing & Factoring

Partners continue successful collaboration to support MSME development, expand financing for agricultural businesses

Luxembourg and Tunis, December 19, 2019 – The SANAD Fund for MSME (SANAD) and Tunisie Leasing & Factoring (TLF) have once again joined forces to expand access to financing for a crucial segment of the Tunisian economy: micro, small, and medium enterprises (MSMEs). A SANAD loan facility of EUR 10 million will be used to support TLF in continuing to provide financing services to MSMEs as well as to expand its outreach to the agriculture sector. 

TLF is the leading leasing institution in Tunisia, extending financial services to small businesses all over the country. With MSMEs as its core client segment, TLF is optimally positioned to help SANAD pursue its mission of channeling resources to entrepreneurs in the Middle East and North Africa to promote financial inclusion and job creation. In addition to MSMEs, this third SANAD investment in TLF will be partly dedicated to agricultural financing.

SANAD Board Chairperson Dr. Daniela Beckmann said, “Micro, small, and medium enterprises comprise a significant portion of businesses in Tunisia, making them crucial for economic growth and prosperity. Through collaborations with valuable partners like Tunisie Leasing & Factoring, we can have a considerable impact on these entrepreneurs’ successful future by providing them the resources they need to grow and for them to create employment opportunities.”

General Manager Hichem Zghal said, “MSME development has been at the core of our strategy since the creation of our company thirty-five years ago. We are very proud of our partnership with SANAD, which will help us to provide our services to MSMEs excluded from the financial system. This loan will help us to develop our activity in the agricultural sector and will contribute to the job creation.”

About SANAD 

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. 

An impact investment fund advised by Finance in Motion, 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; the Dutch development bank FMO; and Calvert Impact Capital. 

For more information on the SANAD Fund for MSME, please visit: www.sanad.lu  
For more information on Finance in Motion, please visit: www.finance-in-motion.com  

About Tunisie Leasing & Factoring

Created in 1984, TLF is the pioneer and the leader of financial lease, operating lease and factoring sectors in Tunisia listed in the Tunisian Stock Exchange since 1992.
TLF is leading a pan-African group of specialized finance companies operating in 11 countries: Tunisia, Algeria, Burkina Faso, Cameroon, Ivory Coast, Gabon, Kenya, Mali, Senegal, Tanzania, and Zambia.

For more information, please visit: www.tlf.com.tn 

Media contact – SANAD

Nikki Eggers
Senior Officer, Marketing & Communications
Phone: +49 (0)69 271 035-470 
Email: press@sanad.lu

Media contact – Tunisie Leasing & Factoring
Mrs. Nejla GHAZOUANI
Marketing Manager
Phone: +216 31 332 082
Email: Nejla.ghazouani@tlf.com.tn