INMA Finance backs Tunisian microfinance institution
INMA Finance, a private debt vehicle dedicated to Tunisian companies, and Enda Tamweel, the first microfinance institution in Tunisia, have signed a financing agreement of 7 million dinars (about $2.4 million), to support financing of the activities of microentrepreneurs.
Enda Tamweel has been supporting micro-credit activity in Tunisia for 30 years. It is the leading microfinance institution in the country in terms of loans, clients, and network. Its wide coverage of the territory and its strong presence in rural areas where access to financial services remains very low make Enda Tamweel a central player in the financial and social inclusion of disadvantaged populations and micro-entrepreneurs. Enda Tamweel operates through a network of 104 agencies covering all Tunisian governorates and five mobile counters.
On this financing, Mohamed Zmandar, CEO of Enda Tamweel declared, “Today we are sealing a new partnership which, I hope, will mark the beginning of a fruitful collaboration with a fully committed player for supporting financial and social inclusion. This funding will help boost the economic fabric by stimulating job creation and encouraging self-employed entrepreneurs, particularly women and young people. In a context where the effects of the health crisis are still being felt, this agreement can only further increase our proximity to populations who do not have access to funding.”
Fatma Merai, CEO of INMA Finance added, “We are proud to participate in the financing of the leading microfinance player in the market. We support the social mission of Enda Tamweel and we commend its role in financial inclusion, the encouragement of entrepreneurship and the creation and preservation of jobs which are perfectly in line with INMA Finance’s strategy. We expect this to be the first in a series of financings that will be followed by other financial agreements to come, as part of a long-term collaboration.”
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