AfDB launches program to provide financial support to SMEs in Tunisia

A program was recently launched in Tunis by the African Development Bank with an aim to strengthen the dynamics of financial inclusion for the Tunisian small and medium enterprises.

The launching of program titled 'Investia Enterprise' is the outcome of a collaboration between the United Kingdom and Tunisian Ministry of Finance, mobilizing, around the Tunis Stock Exchange, all players in the country's financial ecosystem. The objective of this program is to facilitate access to non-bank financing for more than 120 SMEs.

"I am convinced that we must continue to support the Tunis Stock Exchange to be able to offer more innovative financing solutions to the wide range of Tunisian economic operators," the head of the Tunisian Securities Exchange. Tunisian government, Youssef Chahed opined.

"Through Investia Entreprise, we are renewing our commitment to support the development of SMEs. Together with the Tunisian government, we are determined to remove all constraints that affect the development and growth potential of the country's private sector," confirmed Mohamed El Azizi, Director General of the African Development Bank for the North Africa region.

The operation is said to be implemented in separate phases. After a pre-selection, "Investia Enterprise" will accompany the selected operators in the elaboration of their business plan in order to raise funds from the capital markets.

The association between Tunisia and the African Development Bank has been covering multiple sectors like agriculture, energy, technology, water, social development sectors to name a few for around half a century.