Développement International Desjardins (DID) will set up four new entrepreneur financial centres (EFC) in Africa and Latin America over the next five years. The first EFC will be established in Tunisia and the organization has begun the preliminaries for start-up of an EFC in the country. Approval was obtained in September 2014 from the Tunisian microfinance control agency for a provisional operating licence and full legal incorporation procedures are currently underway.
DID, the Desjardins Fund for Inclusive Finance, and Africinvest are the promoters and shareholders of the EFC start-up. The EFCs created will aim at increasing access by micro and small enterprises to the financing they need, and as a result, stimulating job creation and local economic development.