The Tunisian American Enterprise Fund (TAEF) and Taysir Micro-Finance signed, Wednesday in Tunis, a funding agreement worth USD 2.5 million (4.92 million dinars).
The aim of this partnership agreement is to help Taysir micro-finance expand its branches and its customer portfolio and target a larger number of small customers and micro-enterprises, TAEF Director Hela Fourati told TAP.
She noted that Taysir, which does not receive customer deposits, still seeks funding sources, either through banks or partners.
“We are looking forward to build a partnership with Taysir which seeks to develop very specific and innovating products for its customers,” she pointed out, referring to the “Hlibna” (our milk) project carried out in partnership with “Délice Danone” group to improve the know-how of small dairy farmers, increase their income and promote a mote of sustainable exploitation.
TAEF official also emphasized the attention her institution pays to the establishment of foundations of partnership with all structures concerned with micro-finance. “We are in advanced talks with another micro-finance structure in Tunisia,” she added.
Taysir has funded more than 3250 people and supported more than 1900.
The company finances and supports any type of income generating activity, with an orientation towards youth and women project owners or in activity.
It is the first anonymous microfinance company to have obtained the approval of the Ministry of Finance. It launched its operations in June 2014 with 6 branches: Tunis, Ben Arous, Blessed Khalled, Kef, Siliana and Kairouan.
It primarily targets rural areas and poor neighborhoods of Greater Tunis.
Taysir develops mobile agencies, mobile banking and new technologies to reach out to its customers.
Teams of young advisors orient micro entrepreneurs and project developers.
The refinancing granted by TAEF essentially aims to provide the funds necessary for the growth of micro-credit portfolio.
This refinancing is subject to compliance with environmental and social norms and anti-money laundering standards.
The Tunisian American Enterprise Fund, currently, has a contribution of USD 60 million from the U.S. Government.