Advans SA started operations of its ninth MFI, Advans Tunisie, in the El Intilaka area of Tunis. The MFI was created as a private company with a capital of USD 2.2 million (4.6 million TND) and it obtained its licence to operate as an MFI from the Tunisian Finance Ministry in January 2015. It aims to offer tailored credit services to Tunisian micro, small, and medium-sized enterprises (MSMEs) who often lack access to traditional banking systems, in order to support the growth of their activities. The institution will offer working capital and investment loans ranging from USD 242 to USD 9688. Advans Tunisie also plans to expand the range of products it offers from 2016 onward.
“In providing access to credit to Tunisian entrepreneurs across a range of economic sectors, such as the wholesale and retail, craft, small industry, service and small farming sectors, Advans Tunisie aims to foster sustainable economic development in the country," said Gaël Briot, CEO of Advans Tunisie.