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Press Releases

Frankfurt am Main and Tunis, 2015-12-01

SANAD mobilises USD 5 million to Arab Tunisian Lease to extend its support to VSEs and SMEs

Frankfurt am Main and Tunis, the 1 of December 2015 – The SANAD Fund for MSME (SANAD) and Arab Tunisian Lease (“ATL”) signed a five-year senior loan agreement for the equivalent of USD 5 million in Euros. The proceeds will allow ATL to extend its support to very small and small and medium enterprises (VSEs and SMEs), the powerhouse of the Tunisian economy. Leasing companies in Tunisia account for about one-third of VSE/SME financing and play a key role in providing access to financing for a traditionally underserved segment in Tunisia.

As the country’s second largest leasing institution as at Q3 2015, ATL enjoys good brand recognition and a robust market position serving around 9,000 customers. ATL targets professionals, VSEs and SMEs in various economic sectors and offers lease financing for equipment, light and heavy vehicles as well as real estate. This SANAD facility will help ATL grow its portfolio by serving approximately 750 VSEs and SMEs.  
As one of five SANAD partner institutions in Tunisia, ATL is the third leasing company in which the Fund is investing. Since 2013, SANAD has made six investments for a total of USD 53 million to support economic growth in Tunisia.

Wolfgang Reuss, Chairman of SANAD’s Board of Directors, said: “We welcome ATL’s commitment to expanding its leasing services to the ‘missing middle’ in Tunisia, and are pleased to join hands in supporting VSEs and SMEs gain access to finance and grow their businesses.

Slimene Bettaieb, Chairman & Chief Executive Officer of ATL said: “It is a great pleasure to start this partnership with SANAD, a fund well experienced in supporting financial institutions with a sound record in the Tunisian market. Given the alignment of our mission, we trust that this new established cooperation will be long-lasting and successful, for the benefit of our VSE and SME clients.

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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.à r.l., Luxembourg.

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About Arab Tunisian Lease
Arab Tunisian Lease (ATL), a limited company under Tunisian law with a capital of TND 25 million, was founded in 1993 at the initiative of the Arab Tunisian Bank (ATB), the Tunisian affiliate of the Arab Bank, and Banque Nationale Agricole BNA, a public bank. The two institutions currently hold 32.62% and 10% of ATL’s capital, respectively.   The objective of ATL is to finance leasing transactions that involve movable and immovable property for industrial or professional use in various economic sectors. However, its activity is mainly oriented towards rolling stock for SMEs and professionals.Listed on the Tunis Stock Exchange since 1997, ATL is regularly rated by Fitch Ratings (current rating:  BBB). ATL operates in a market composed of nine leasing companies, excluding the leasing departments of commercial banks. It ranks second in terms of outstanding financing with a market share of around 14%. For its refinancing needs, ATL has always raised capital on the financial market through bond issues, which represent over 80% of its outstanding borrowing resources. ATL also diversifies its funding sources through international donor funds such as EIB, IBRD and ADB.

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Media contact SANAD
Bettina Sermanson
Phone: +49 (0)69/271 035 939

Media contact Arab Tunisian Lease
Corporate Communications
Phone: +216 70 135 022

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