MICROCAPITAL BRIEF: Sanad, Attijari Leasing Partner to Increase Financing for Small, Medium-sized Enterprises (SMEs) in Tunisia

The Sanad Fund for MSME, a Luxembourg-based public-private partnership that provides medium- and long-term debt and equity financing in the Middle East and North Africa, and Attijari Leasing, a Tunisia-based subsidiary of Attijari Bank that provides leasing services, signed a senior loan agreement for USD 5 million to support micro-, small- and medium-sized enterprises (MSMEs) in Tunisia.

According to Moez Terzi, CEO of Attijari Leasing: “This partnership with Sanad will enable us to continue financing Tunisian [MSMEs], which constitute the core of the local economy and are the country’s main job creators”[1].

Attijari Leasing operates through its own branches and through Attijari Bank’s approximately 200 outlets in rural and underdeveloped areas of Tunisia. The company offers factoring services, which involve the purchase of accounts receivable from businesses, and lease financing services. As of 2014, Attijari Leasing reported revenues of TND 17.7 million (USD 9.03 million) and as of December 2013 reported total assets of TND 396 million (USD 202 million).

Sanad is an initiative of the German development bank Kreditantalt Fur Wiederaufbau that focuses on Algeria, Egypt, Iraq, Tunisia and other countries in the Middle East and North Africa. This is Sanad’s fifth partnership in Tunisia, following the initiation of partnerships with Advans Tunisie, Amen Bank, Enda inter-arabe and Tunisie Leasing.

By Jared Deveau and Benjamin Krupp, Research Associates

About Sanad Fund for MSME

The Sanad Fund for MSME (micro-, small and medium-sized enterprise) is a private-public partnership that provides “medium- and long-term” loan and equity to financial institutions in the Middle East and North Africa with the intent of strengthening MSMEs as well as local financial markets. It is an initiative of the German development bank Kreditanstalt für Wiederaufbau (KfW), and it is funded by the European Union (EU) and the German Federal Ministry of Economic Cooperation and Development, which is known by its German acronym BMZ. Sanad was founded in 2011 and is domiciled in Luxembourg. It focuses in Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, the Palestinian Territories, Tunisia and Yemen with an emphasis on Egypt and Tunisia. As of March 2015, Sanad has raised total investor commitments of USD 128.8 million, with USD 164.6 million in approved debt investments.

About Attijari Leasing

Attijari Leasing is a subsidiary of Attijari Bank, the Tunisian arm of Morocco-based Attijariwafa Bank. Attijari Leasing was founded in 1994 as General Leasing and is involved in providing lease financing services and factoring services, which involve the purchase of accounts receivable from businesses. As of 2014, Attijari Leasing reported revenues of TND 17.7 million (USD 9.03 million), and as of December 2013 IT reported total assets of TND 396 million (USD 202 million).

Sources and Additional Resources

[1] Sanad: SANAD and Attijari Leasing partner to increase financing for small and medium enterprises in Tunisia

MicroCapital Universe Profile: SANAD Fund for MSME

MicroCapital Universe Profile: Attijari Leasing

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

 

Similar Posts: