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HomeNewsTunisia: EBRD lends € 5 million to “Vermeg Solutions”

Tunisia: EBRD lends € 5 million to “Vermeg Solutions”

The European Bank for Reconstruction and Development (EBRD) said it has lent € 5 million (11 million dinars) to ‘Vermeg Solutions, a Tunisian SMEs specialized in software developing.

This financing is part of the ‘Local Enterprise Facility,’ a funding structure of € 400 million dedicated to investments in SMEs in Tunisia and at least 13 other countries.

This loan will enable Vermeg to implement a development strategy in the medium term and contribute to the expansion of the mother company, Vermeg Group, notably through synergies with the Belgium company BSB Group of which Vermeg currently owns 29.9 per cent.

Vermeg Solutions, a software company specialised in fund administration and securities processing, is a subsidiary of Vermeg Group and was founded in 2002 by Badreddine Ouali who remains the main owner and serves as its chairman.

BSB, listed on the NYSE Alternext stock exchange, is a software developer focused on life insurance, pension and healthcare, asset management and wealth management sectors.

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