The Union Bancaire pour le Commerce et l’Industrie (UBCI) announced the signing of an agreement to acquire a majority stake in the capital of the company DAAM (formerly CFE).
This agreement, whose implementation remains subject to obtaining the required regulatory approvals, marks a new step in UBCI’s commitment to financial inclusion and local economic development.
Founded in 2015, DAAM has grown to become a leading microfinance institution in Tunisia, working closely with micro-entrepreneurs to meet all their financing needs.
The selling shareholders in this transaction are renowned players in development finance, including Desjardins, TAEF, and Proparco.
Their exit marks a new phase in DAAM’s evolution, now supported by a local player committed to consolidating a long-term vision with strong economic and social impact.
This acquisition aligns with the logic of complementarity between the activities of the two institutions and strengthens regional coverage, in line with national priorities for expanding financial services to populations underserved by traditional banking systems.
With this acquisition of a key microfinance player in Tunisia, UBCI is now equipped to fully contribute to financial inclusion, covering all levels of financing.
