2030 Finance | May 17, 2018

Proparco backs Tunisian and Ugandan enterprises

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, May 17 – Proparco, the French development finance institution, backed Tunisian microlender Enda Tamweel and Ugandan sugar maker SCOUL. Enda Tamweel offers microloans to women-run businesses and rural entrepreneurs. It will use the new investment to catalyze financing so it can make more loans. SCOUL, Uganda’s third-largest sugar maker, will use the funds to build a clean power plant fueled by sugar cane waste from its manufacturing facility.

  • Enda Tamweel… Proparco made a €5.9 million ($7 million) equity investment. Five other investors contributed funding that brought the total to $30 million.
  • SCOUL… Proparco loaned the company €20 million ($23.6 million). Dutch development finance institution FMO matched the loan, for a total of €40 million.

Proparco is complementing its investment in Enda Tamweel with technical assistance to support its lending to women. It’s the second time Proparco has invested in both companies.