International microfinance network “Advans” opened an office in Tunis, on March 13, in association with Sanad Fund for MSME, an investment fund initiated by the German development bank KfW, Amen Bank and Inaam holding a local social investment company. . There are plans to expand the network to fifteen agencies in Tunisia within 5 years, reports Tustex.
Tunisia’s subsidiary of the network will have a capital of 4.5 MTD -owned 57% Advans.
It will offer “credit for investment and working capital, from 500 TD to 20,000 TD with flexible guarantees,” at first, dedicated mainly to Tunisian micro-entrepreneurs excluded from the traditional banking system, reports same source.
