(Ecofin Agency) – The Chairman of the Board of Directors of the Financial Center for Entrepreneurs (CFE) bought back for an undisclosed amount the shares of AfricInvest in the capital of this Tunisian microfinance structure. The operation will lead to the departure of the private equity firm, following 7 years of investment.
Radhi Meddeb (photo), who has chaired the board of directors of the Tunisian microfinance structure, Center Financier aux Entrepreneurs (CFE) since its creation in 2015, has strengthened his stake in this company. He recently acquired the 247,499 shares, representing 15% of the shares held by the private equity firm, AfricInvest.
The operation was announced this Thursday, June 30 by the Tunisian media ilbboursa.com which cites an insertion in the legal announcements. “From now on, Radhi Meddeb rises to 23.95% in the capital of the CFE”, we learn.
Prior to this acquisition, Mr. Meddeb owned 8.95% of shares in CFE. AfricInvest, the selling entity, was a shareholder since the creation of the company, which specializes in the financing of local micro, small and medium-sized enterprises (MSMEs). The investor, via its Tuninvest Croissance and AfricInvest Financial Sector funds, then acquired a minority stake in the capital of CFE.
In 2015, when it launched its activities, CFE had committed to disburse approximately 14,000 loans, reaching a loan portfolio of 64.4 million Tunisian dinars (20.9 million dollars) at the end of its fifth year. of operation in 2020.
Chamberline Moko