MICROCAPITAL BRIEF: Triodos Investment Management Invests in Tunisia’s Enda Inter-Arabe, Uganda’s Entrepreneur Financial Centre

Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, recently disbursed loans of unspecified sizes to Enda Inter-Arabe, a Tunisian financial services provider that is part of Senegal-based non-governmental organization Enda Third-World, and Entrepreneur Financial Centre (EFC) Uganda, a microfinance institution that provides financial services to micro-, small and medium-sized enterprises (MSMEs). This is the first time that Triodos Investment Management has invested in Tunisia. EFC Uganda, which is partially owned by its staff and clients, is operated by Développement International Desjardins (DID), a Canadian NGO. DID operates similar institutions in Panama, Tanzania and Zambia.

As of 2014, Triodos Investment Management had EUR 12 million (USD 14.1 million) in total assets and EUR 2.4 billion (USD 3 billion) in total assets under management. The organization finances 112 microfinance institutions in 45 countries. Triodos bank has assets of EUR 6.4 billion (USD 7.5 billion).

As of December 2013, Enda Inter-Arabe reported a gross loan portfolio of USD 106 million and approximately 231,000 active clients. Enda Third-World operates various programs in 14 countries worldwide.

As of September 2014, EFC Uganda has total assets of CAD 4.1 million (USD 3.48 million), a loan portfolio of CAD 2.7 million (USD 2.29 million) for 629 clients.

By Simon Pfanner, Research Associate

About Triodos Investment Management

Triodos Investment Management BV, a wholly owned subsidiary of Triodos Bank of the Netherlands, manages funds in a range of sectors including financial sector development in developing countries, renewable energy finance and venture capital. As of 2014, Triodos Investment Management had EUR 12 million (USD 14.1 million) in total assets, and EUR 2.4 billion (USD 3 billion) in total assets under management. The organization finances 112 microfinance institutions in 45 countries.

About Enda Inter-Arabe

Enda Inter-Arabe was founded in Tunisia in 1990. It is a non-governmental organization and a member of Senegal-based Enda Third-World, an organization that is active in various development efforts in 14 countries in Africa, Eurasia and Latin America. It offers financial services such as loans and loan-insurance as well as non-financial services such as training in accounting and marketing; excursions; exhibitions; networking events and counselling in areas including legal issues, health and public services. As of December 2013, Enda Inter-Arabe reported a gross loan portfolio of USD 106 million and approximately 231,000 active clients. Enda Inter-Arabe does not take deposits.

About Entrepreneur Financial Centre (EFC) Uganda

Entrepreneur Financial Centre (EFC) Uganda is a microfinance institution based in Uganda that provides savings and other financial services to micro-, small and medium-sized enterprises (MSMEs). EFC Uganda, which is partially owned by its staff and clients, is operated by Développement International Desjardins (DID), a Canadian NGO. DID operates similar institutions in Panama, Tanzania and Zambia. As of September 2014, EFC Uganda has total assets of CAD 4.1 million (USD 3.48 million), a loan portfolio of CAD 2.7 million (USD 2.29 million) for 629   clients.

Sources and Additional Resources

[1] Triodos Bank, Newsletter Emerging Markets, Additions to our Emerging Markets portfolio

MicroCapital, February 13, 2014, responsAbility Loans $20m to Microlender Enda Inter-Arabe of Tunisia

MicroCapital, February 3, 2014, Triodos Investment Management Loans $1m each to Advans Banque Congo, Microfinance Institution (MFI) Vitas Jordan

MicroCapital, November 16, 2013, Triodos Investment Management of the Netherlands Sells Stake in Mongolian TenGer Financial Group to Orix, International Finance Corporation (IFC), Mongolyn Alt Group

MicroCapital, July 24, 2013, Sanad Fund for MSME Loans $6m to Enda Inter-Arabe of Tunisia for Young Entrepreneur, Micro-, Small, Medium-sized Enterprises in Rural Areas

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