Women’s World Banking Capital Partners sells its stake in Enda Tamweel to Maghrebia Vie

October 15, 2021

Women’s World Banking Capital Partners (“WWBCP”) has successfully completed the sale of its stake in Enda Tamweel to Maghrebia Vie, part of UFI Group, one of the leading Tunisian groups.

Enda Tamweel has been part of the Women’s World Banking global network of inclusive financial service providers for decades, and in 2018 WWBCP, Women’s World Banking’s first gender-lens investment fund, became a shareholder in Enda Tamweel, contributing to its fantastic growth path and to financial inclusion of women and excluded populations.

The sale to Maghrebia Vie attests to the attractiveness of Enda Tamweel in particular and of the microfinance sector in Tunisia in general, for both national and international parties, and comes as a reinforcement of the long-standing strategic partnership between Enda Tamweel and Maghrebia.

Christina Juhasz, chief investment officer at WWBCP said: “We are proud to have shared in Enda’s journey over these transformative years, when it showed how positive social impact for Tunisia’s financially underserved people, especially women and youth, can go hand in hand with financial sustainability. We are especially pleased to be handing over to Maghrebia Vie, part of one of the most prominent groups in Tunisia, who will help Enda provide even more products and services to its clients. We would like to thank all the parties for their work and commitment, and we hope that this is just the beginning of an ongoing collaboration between all our organizations in service of women’s financial inclusion in Tunisia.”

Habib Ben Hassine, General Manager of Maghrebia said: “As historical partners of Enda Tamweel, we are honored to take our partnership forward with this transaction and we hope that this is just the continuation of a fruitful and long-standing relationship between our two institutions”.

Essma Ben Hamida, co-founder of Enda and representative member of Enda inter-arabe added:” We are glad to welcome Maghrebia, which we know well, as one of our Enda Tamweel’s shareholders. It will be our first private Tunisian shareholder and we hope that this development will reinforce and develop our partnership in the micro-insurance sector.”

WWB has been advised on this transaction by MCF as its financial advisor as well as Cabinet Hedda  Belajouza as its legal advisor.

About Women’s World Banking Capital Partners

Women’s World Banking Capital Partners is the first gender-lens investment fund established by Women’s World Banking, a global non-profit that has worked on women’s financial inclusion over more than 40 years. The Fund seeks to close the gender gap in financial inclusion by investing in high-performing financial service providers that serve low-income women clients, expand gender diversity within their staff and management teams, and utilize innovative solutions to enhance customer reach and engagement.

For more information, please visit: https://www.womensworldbanking.org/asset-management/

About UFI Group

UFI Group, founded by Mr. Abdelaziz Essassi since 1970, is a leading Tunisian group operating in the sectors of finance, industry, tourism, services and real estate.

With subsidiaries in Africa (Tunisia and Algeria) and Europe (Spain), UFI Group grows steadily beyond the Tunisian territory, internationally, and gives priority to sustainable development as a socially responsible Group, member of the United Nations Global Compact since 2009.

For more information, please visit: http://www.ufigroup.com.tn/

About Maghrebia

Maghrebia, part of UFI Group, was founded in 1973 and gathers companies focused on strategic areas of P&C and life insurance, finance, real estate and services.Maghrebia is the 3rd largest insurance group in Tunisia in terms of premiums collected and the 1st of its sector to go forward with the sustainable development and the United Nations’ Global Compact SDGs.Maghrebia is continuously developing with the vision of being the market’s leading insurance group, as evidenced by its recent listing on the Tunis Stock Exchange market.

For more information, please visit: http://www.maghrebia.com.tn/

About Enda Tamweel

Enda Tamweel is a Tunisian microfinance company created by the non-governmental organization Enda Inter-Arab, a pioneer in the microfinance sector in Tunisia. Enda Tamweel works for the financial inclusion of vulnerable populations, especially women and youth. It makes a strong contribution to the economic and social development of the country through the active support it provides to micro-entrepreneurship and self-employment. Relying its development on proximity, Enda Tamweel operates through a network of 103 agencies covering all Tunisian governorates and 5 mobile branches serving mainly remote areas.

For more information, please visit: http://www.endatamweel.tn/

About MCF

Founded in 2014, MCF is an independent corporate finance and investment advisory firm focused on developing economies and countries with strong growth potential within the Middle East and Africa region. Its deep knowledge of the region and its established reputation made it become a reference player, providing professional and independent advisory services on various strategic and financial subjects, and benefiting from the support and confidence of regional and international clients and investors.

For more information, please visit: www.med-cf.com

About Cabinet Hedda Ellouze Belajouza

Founded in 1986 by Maître Donia Hedda Ellouze, the Firm has developed a global expertise, a thorough knowledge and an extensive experience acquired over more than 30 years in international business law. The Firm advises its clients for their international transactions and supports them in the management of their business.

For more information please visit https://www.cabinetheddaellouze.com/en