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With CFE, increasing financial inclusion for Tunisian entrepreneurs
Project
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Signature date
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Location
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Tunisia
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Financing tool
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Financing amount (Euro)
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400000
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Financing details
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TND 1.3m equity investment
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Customer
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Centre Financier aux Entrepreneurs - Tunisie
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Type of customer
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Financial institution
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Country of headquarters
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Tunisia
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Project number
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PTN1146
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has become a shareholder of the microfinance institution CFE, which supports Tunisian small businesses.
Client presentation
Founded in 2015, CFE (Financial Center for Entrepreneurs) Tunisia is a microfinance institution specialized in a range of financial products and services for microenterprises and SMEs (1 to 10 employees). As of year-end 2022, CFE Tunisia served some 12,000 active microborrowers.
Project description
To support the rapid growth in CFE Tunisia’s activity, Proparco is taking part in a TND 4.95m (EUR 1.5m) capital increase.
Project impact
Proparco’s participation in the capital increase will help maintain 1,438 jobs and create 13 jobs, provide access to 636 microcredits and mobilize TND 1.1m of private finance.
This project will contribute to the achievement of SDG n° 1 (“No Poverty”), SDG n° 8 (“Decent work and economic growth”) and SDG n° 10 (“Reduced inequalities”).