MCF, a corporate finance and investment advisory firm specialized in the Africa and Middle East region, acted as a leading advisor for Enda Tamweel in its private capital increase of TND 72m. The amount was entirely subscribed by six top-tier international institutions: BIO (Belgium), PROPARCO (France), SANAD (Germany), SIDI (France), TRIODOS (Netherlands) and WWB (United States).
Enda Tamweel is the Tunisian micro-finance leader institution aiming at encouraging the economic and social inclusion of vulnerable populations, prioritising women, youth and rural population. Enda’s main objective is to promote entrepreneurship, thus contributing to the development of the national economy.
Mehdi Sethom, Managing Director of MCF declared: “We are proud to be the leading advisor for Enda Tamweel in this important transaction for Enda Tamweel and the microfinance sector and financial inclusion in Tunisia. The success of such a transaction reinforces MCF’s position as a reference actor in the Tunisian and regional advisory market and comes as an addition to the numerous transactions conducted by MCF over the last years for the benefit of Tunisian and regional leaders in their respective markets.”
Walid Ayad, Partner at MCF added:” MCF was involved throughout a complex and competitive process, involving numerous parties, notably top-tier international organizations. MCF intervened in all the steps of the transaction, from the preliminary diagnosis phase to the structuring of the transaction and the negotiation of the legal documentation, going through the design and the implementation of the marketing strategy.”
Thanks to this capital increase, Enda Tamweel will have enough resources to achieve its ambitious development plan. It will notably increase its ability to grant micro-credits to vulnerable populations, improve their financial inclusion, contribute to the economic development of the country and promote the entrepreneurship and self-employment of youth and women in disadvantaged neighbourhoods and rural regions of the country.
About Enda Tamweel:
Established by the international non-governmental institution Enda inter-arabe, Enda Tamweel is the pioneer of the microfinance sector in Tunisia. With 337,000 active customers and a portfolio exceeding 500 million dinars, Enda Tamweel is currently covering 80% of the Tunisian microfinance market.
By insuring the financial inclusion of vulnerable populations, by giving priority to women, youth and rural populations and by encouraging self-employment through the promotion of entrepreneurship, Enda Tamweel brings a strong contribution to economic development of the country. It is helping countless women and youth earning a living though their efforts and retrieve their dignity. For more information, please visit: www.endatamweel.tn
Established in 2001, the Belgian Investment Company for Developing countries (BIO) is a financial development institution in the framework of the Belgian development cooperation.
Its mission is to encourage the establishment of a strong private sector in developing and emerging countries, allowing them to reach sustainable development and growth.
It invests in funds, financial institutions, companies and private infrastructure projects in the form of equity, quasi-equity and/or debt. BIO also offers support services (feasibility studies, technical assistance, and training) with the aim of improving the operational practices of its clients and expanding their impact on sustainable development. For more information, please visit: www.bio-invest.be
Subsidiary of the Agence Française de Développement dedicated to the private sector, for more than 40 years, Proparco promotes sustainable economic, social and environmental development. Proparco participates in the financing and support of companies and financial institutions in Africa, Asia, Middle East and Latin America. Its activity is focused on key development sectors: infrastructures with a focus on renewable energies, agro-industry, financial institutions, health, education etc.
Its actions aims to strengthen the contribution of the private sector to the sustainable development objectives, adopted by the international community in 2015. For that purpose, Proparco finances companies whose activities lead to the creation of jobs and decent revenues, the provision of essential goods and services and fighting climate change. For more information, please visit: www.proparco.fr and @Proparco
About SANAD fund for micro, small and medium-sized companies:
Established in 2011, SANAD fund for micro, small and medium-sized companies finances micro, small and medium-sized companies and low-income households in North Africa and the Middle East through qualified regionals lenders. SANAD encourages the economic development and the creation of jobs – including youth – agriculture, affordable housing and innovation in finance and financial technologies. SANAD follows its objectives by offering debt and equity financing to its regional partners. The provided technical assistance multiplies the impact on sustainable development and the impact of fund’s actions by reinforcing the capacities of partner institutions. SANAD develops financial infrastructures by respecting the principles of responsible finance and conducts necessary R&D activities.
Current investors are the development bank KfW, which initiated the fund, the German federal ministry of economic cooperation and development (BMZ), the European Union, the Swiss state secretariat for economic affairs (SECO), the Austrian development bank (OeEB), the German bank GLS and GLS Treuhand and the Dutch development bank (FMO). Product of a public-private partnership, the fund is advised by Finance in Motion in Frankfurt/Main, Germany. For more information, please visit: www.sanad.lu
SIDI (International Solidarity for Development and Investment) is a socially responsible company. Established in 1983 by the development association CCFD-Terre Solidaire, its mission is to consolidate the economic activities initiated by disadvantaged populations in the South and Eastern countries. Subsidiary of CCFD-Terre Solidaire, SIDI employs finance as a tool to help disadvantaged populations by taking part in the consolidation of economic development actors such as (i) inclusive financing institutions offering services to populations excluded from the traditional banking system, mainly in rural areas, (ii) farmers’ associations willing to secure and increase the revenue of small producers, and (iii) support structure to community-based finance. For more information, please visit: www.sidi.fr
About TRIODOS INVESTMENT MANAGEMENT:
Triodos Investment Management (Triodos IM) connects a large scope of investors willing to fructify their funds for a durable and positive change with innovative entrepreneurs and sustainable companies. By doing so, it serves as a catalyst in key transition sectors for a fairer, more durable and more human world. The assets under management by end of July 2018 are 3.5 billion dollars. Triodos IM acquired a profound knowledge during its 25 years of investment in sectors like energy, climate, inclusive finance and sustainable food and agriculture, arts and culture. Other than these direct impact investments in these sectors, Triodos IM invests also in listed companies with environmental, social and governance performances above average. It also looks to invest in the financial services sector with an emphasis on microfinance institutions and banks in Asia, Africa and Latin America. For more information, please visit: www.triodos-im.com
About WWB Capital Partners:
Women’s World Banking Capital Partners is an investment fund sponsored by Women’s World Bank, which invests directly in financial institutions focused on Women. Its investment strategy stands on the conviction that investors can influence institutions to ensure that women are part of their growth strategy and their future profitability. With more than 50 million dollars under management, the funds aims to demonstrate what Women’s World Banking supports since its inception: offering women access to financial services is both profitable for the banks and contributes to economic growth and the communities’ welfare. For more information, please visit: www.womensworldbanking.org