Tunisia launches funds to support growth of local companies across sub-Saharan Africa
Tuesday, 18 October 2016 20:24
Tunisian leading private group Poulina Group Holding partnered with various local financial institutions to create an investment fund that will support the expansion of Tunisian companies in sub-Saharan Africa, ilboursa reported, on October 17.
The institutions are: Caisse des dépôts et consignations (CDC), a state-run firm which promotes investment, private bank Amen Bank and the Compagnie Tunisienne d’Assurance et de Réassurance (STAR).
Named Africamen, the new fund is a 30 million dinar venture capital FCP. It targets Tunisian companies with a clear business model that want to grow and expand to promising markets in the sub-Saharan Africa region.
The funds aims to provide financial means and assistance in order to increase exports, promote the establishment of subsidiaries outside and concretize operations for external growth.
Africamen will be managed by Amen Capital, Amen Bank’s asset management branch.
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