The Entrepreneur Financial Center in Tunisia (EFC Tunisia) extends DID's management mandate

April 25, 2018

The Entrepreneur Financial Center in Tunisia (EFC Tunisia) has just renewed the management mandate entrusted to DID for two additional years.

According to the terms of this mandate, which demonstrates the confidence placed in DID by the EFC's investors and other stakeholders, DID will continue to manage, develop, monitor and supervise the operations of the institution. This will involve maintaining a team of two DID experts at the EFC, in addition to short-term technical support missions and ongoing distance supervision. As part of this mandate, DID will provide capacity building for local managers, increase the quality and diversity of the financial services offered and expand the loan portfolio.

EFC Tunisia, which was set up in 2015 by DID, currently has seven service outlets and 148 employees (of whom 53% are women). Reaching 3,000 active borrowers, 30% of whom are women and 34%, young people under 35 years, it has a loan portfolio valued at CAN $12 million, with an average loan of CAN $4,900. In addition to DID, the EFC's shareholders include the AfricInvest Group, Proparco (a subsidiary of the French Development Agency) and the Tunisian American Enterprise Fund (TAEF). It also receives financial support from Global Affairs Canada, the French Development Agency and the International Finance Corporation, a World Bank Group member.