ENDA TAMWEEL S.A.
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Enda Tamweel S.A. (Enda) is the leading MFI in Tunisia. It has an established position with a market share of 61% (by loans) and a large branch network across the country. Enda has remained sustainable and profitable since its spin-off from Enda Inter-Arabe (NGO) in 2016. By the end of 2018, Enda had over 362,000 borrowers and a portfolio of USD 201mln. Annual profits in 2018 amounted to USD 6mln.
What is our funding objective?
In the short term, this project will assist families of most vulnerable customers with their basic needs and provide psychological assistance related to the COVID-19 pandemic. In the medium and long term, it will provide Enda’s customers with a set financial and non-financial business support including digital services and expert advice tailored to the needs of their business. This set of support is aimed at business survival during and beyond the COVID-19 crisis.
Why do we fund this investment?
FMO is funding this project as part of the Emergency Grant Facility, a support facility that was launched to help FMO’s clients and investees to battle the negative effects of COVID-19 on their business, staff and surrounding communities. Enda Tamweel has joined national efforts to fight COVID-19 and together with Enda Inter-Arabe, other civil society organizations and the Ministry of Social Affairs has launched the Yed-Yed initiative which supports the most vulnerable communities in the country. By providing this grant for (non-)financial support to underserved groups and very small enterprises, FMO assists Enda to respond to their customers’ needs during the COVID-19 crisis.
More investments
| Date | Total FMO financing |
|---|---|
| 3/3/2020 | EUR 21.00 MLN |
- Region
- Africa
- Country
- Tunisia
- Sector
- Financial Institutions
- Effective date
- 10/20/2020
- End date
- 1/24/2022
- Total FMO financing
- EUR 0.05 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C