Enda Tamweel, a microlender primarily held by Tunisian NGO Enda Inter-Arabe, recently raised equity funding of TND 72 million (USD 30 million) in unspecified portions from six new shareholders. The investors are the government-backed Belgian Investment Company for Developing Countries (BIO); the French government’s Société de Promotion et de Participation pour La Coopération Economique (PROPARCO); the Luxembourg-based Sanad Fund for MSME (Micro-, Small and Medium-sized Enterprise); the French NGO Solidarité Internationale pour le Développement et l’Investissement (SIDI); Netherlands-based Triodos Investment Management; and the US-based nonprofit WWB (Women’s World Banking) Capital Partners.
Enda Tamweel Executive Director Essma Ben Hamida said that the funding supports “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.”
Launched in 1995, Enda Tamweel “focus[es] on women, youth and rural populations…through the promotion of entrepreneurship…”. The institution has a portfolio of TND 510 million (USD 210 million) outstanding to 340,000 microentrepreneurs served by 86 fixed and three mobile branches. Enda Inter-Arabe is a member of Senegal-based NGO Enda Third-World, which engages in a range of development activities via partners in 11 countries in Africa, Eurasia and Latin America.