Finance

Enda Tamweel inks $10 mln agreement with Citibank Tunisia

Enda Tamweel inks $10 mln agreement with Citibank Tunisia
Tuesday, 01 October 2019 19:53

Tunisia-based microfinance company Enda Tamweel, which owns about 80% of the country’s microfinance sector market share, has signed a loan guarantee agreement with the local subsidiary of US bank Citibank for an amount of TND30 million ($10.4 million).

The sum will support nearly 17,000 microenterprises, traditionally excluded from the commercial banking financial circuit and whose activities are focused on small-scale agriculture, livestock and the environment. Enda Tamweel offers microcredits to small businesses ranging from $200 to $6,500.

The microfinance company founded in 2015 by the Tunisian NGO Enda Inter-Arab serves about 370,000 micro-entrepreneurs nationwide. However, and as Essma Ben Hamida (pictured), co-founder of Enda Tamweel, points out, nearly one million Tunisian entrepreneurs do not have access to traditional financing mechanisms offered by commercial banks.

The loan guarantee agreement is part of the Global Inclusive Finance Framework, which is an initiative of the American group Citibank and the American Overseas Private Investment Corporation (OPIC). This initiative is dedicated to the financing of companies and microfinance institutions established in emerging markets.

Chamberline Moko

On the same topic
• The IMF has approved an immediate disbursement of $367 million to Ghana, bringing the total financial support provided to the country since May...
Zenith Bank is in advanced talks to acquire a tier-two bank in Kenya. The Central Bank of Kenya has raised capital requirements, triggering market...
• DPI acquires minority stake in Egypt’s largest private hospital group• Funds to support expansion across Egypt and key Gulf countries• Investment among...
WAEMU states collectively raised nearly 7,000 billion CFA francs in the first half of 2025, a record amount driven by increased financing needs, the...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.