Tunisia Launches INMA Finance, First Private Debt Vehicle Dedicated To MSMEs

In response to the needs of Tunisian MSMEs in terms of alternative financing, Mediterranean Corporate Finance (MCF), the Tunisian American Enterprise Fund (TAEF) and the Caisse des Dépôts et Consignations (CDC) have announced the launch of the private debt vehicle INMA Finance.

Hela Kaddour Fourati, Managing Director of TAEF
Hela Kaddour Fourati, Managing Director of TAEF

INMA Finance is intended to support directly or indirectly (through microfinance or leasing etc.) the development of Tunisian micro, small and medium enterprises (MSMEs) by offering them tailor-made financial instruments adapted to their needs and constraints. 

“Resolutely turned towards boosting the development of MSMEs and with a view to deploying its Smart Capital in an inclusive and innovative way, TAEF is convinced of the impact potential of this new asset class that is the private debt offered by INMA Finance which is positioned in the continuum of its investment strategy and address, in an alternative and complementary way, the financing needs of entrepreneurs,” Hela Kaddour Fourati, Managing Director of TAEF said.

Here Is What You Need To Know

  • The private debt vehicle mainly operates in senior or subordinated debt, in the form of marketable securities, for amounts greater than 5 million Dinars ($1.8m). 
  • The financing is aimed more particularly at companies as part of their structuring operations, in particular for development operations, external growth, financing of working capital requirements and company buyouts.

“As an extension of its commitment to responsible and sustainable development, the CDC supports the creation of companies. As a new alternative financing mechanism for the benefit of MSMEs, INMA Finance will surely contribute to their social inclusion,” Boutheina Ben Yaghlane, Director General of the CDC said. 

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“INMA Finance will be able to respond to a real and pressing market need for financial instruments as an alternative financing mechanism. With the TAEF, we agree that such an initiative could contribute to economic development and social and financial inclusion and we take this opportunity to welcome the continued commitment of the CDC to support any initiative that contributes to the development of financial and MSMEs markets,” Walid Ayad, Managing Director of MCF said. 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer