Investing in Employment in the Middle East and North Africa Region

Press Releases

Frankfurt am Main and Tunis, 2014-07-21

SANAD makes second investment in Tunisia with EUR 7 million loan to Tunisie Leasing

Frankfurt am Main and Tunis, 21 July 2014 – Today the SANAD Fund for MSME (SANAD) signed a senior loan facility of EUR 7 million with Tunisie Leasing (TL), Tunisia’s largest and leading leasing company.

This credit facility constitutes SANAD’s second investment in Tunisia, thus reaffirming the Fund’s support to one of its main target countries. TL, which was the first promoter of leasing services in Tunisia and is renowned for its excellent service quality, now serves its clients via nine branches across the country and covers all economic sectors. With a special focus on very small enterprises (VSEs) and small and medium enterprises (SMEs), TL is an ideal partner for SANAD. Up to 400 VSEs and SMEs are expected to benefit from SANAD’s credit facility.

Wolfgang Reuss, Chairman of SANAD’s Board of Directors, said: “With this loan SANAD and Tunisie Leasing are actively supporting VSEs and SMEs, businesses which remain underserved in Tunisia and often lack access to finance. This investment will contribute to these businesses creating employment and economic growth in the country.”

Fethi Mestiri, CEO of Tunisie Leasing, added: “This first operation will increase our capacity to finance MSMEs which are the main vector of employment creation in Tunisia, so we are delighted to start a long-term partnership with the SANAD Fund.”

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About the SANAD Fund for MSME

Initiated and funded by KfW Development Bank with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union in August 2011, the SANAD Fund for MSME (SANAD) provides medium- and long-term debt and equity financing to commercial banks, microfinance institutions and other financial institutions in the Middle East and North Africa (the MENA region). The purpose of SANAD is to strengthen the local micro-, small and medium enterprise (MSME) sector and financial markets in line with the principles of responsible finance. Eligible countries are currently Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territories, Tunisia and Yemen. The Fund’s activities are supported by a technical assistance facility, which provides capacity-building support to partner institutions. SANAD is a public-private partnership. Its target investor base is comprised of donor agencies, international financial institutions and institutional private investors, including the European Commission, the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW and Switzerland's State Secretariat for Economic Affairs (SECO). SANAD is privately managed by a consortium consisting of Finance in Motion GmbH, Frankfurt/Main and Oppenheim Asset Management Services S.a r.l., Luxembourg.


About Tunisie Leasing

Founded in 1984, Tunisie Leasing is a diversified financial services group, specializing in three lines of business: Leasing, Factoring and Fleet Management (operational leasing).

Tunisie Leasing is a market leader with a 22% market share. Apart from its core business activities, the group has various strategic investments in other financial institutions, including a brokerage and asset management firm and a number of private equity funds.

A leasing subsidiary was established in Algeria in 2006, expanding the group’s diversification beyond Tunisia.

For more information, please visit: www.tunisieleasing.com.tn.


Media Contact SANAD

 

Media contact Tunisie Leasing

Xenia Tendyck
Phone: + 49 (0) 69/977 876 50-320
E-mail: press@sanad.lu
  Mondher Zid
Finance Director
Phone: +216 70 132 068
E-mail: Mondher.zid@tunisieleasing.com.tn
 

 
Initiated by
 
http://www.kfw-entwicklungsbank.de/
 
 
Funded by
 
  • http://www.bmz.de/
  • http://ec.europa.eu/
  • http://www.kfw-entwicklungsbank.de/
 
 
Advised by
|
Managed by
 
  • http://www.finance-in-motion.de/
  • http://www.oppenheim.lu/