Tunisia has introduced a new financial scheme to support small businesses and individuals. The decree n° 148-2026, which came into effect on October 1, 2026, allows Tunisian banks to offer micro-crédits without guarantees at a zero-interest rate. This initiative aims to promote entrepreneurship and job creation, particularly among young people and women. The micro-crédits will be allocated from the banks' net profits of the 2025 financial year, up to 8% of their total.
According to Saoussen Gharbi, a finance expert and university professor, microfinance plays a vital role in financing small activities and individuals who have limited access to traditional banking services. As of December 31, 2025, the microfinance sector in Tunisia had 856,105 active clients and a total outstanding amount of 3,010 million dinars. The average loan amount per client is around 3,516 dinars, with a significant variation depending on the purpose of the loan.
The microfinance sector has contributed significantly to job creation in Tunisia. The sector's leading institution employs nearly 2,000 people and has a network of 109 agencies and 5 mobile branches covering all 24 governorates. Since its inception in 1995, the sector has granted over 3 million loans and disbursed more than 4 billion dinars, supporting self-employment and micro-entrepreneurship.
Gharbi notes that the cost of micro-crédits is structurally high due to the small loan amounts, proximity distribution, and specific risk analysis. The interest rates for micro-crédits vary, with consumption loans (ACV) averaging around 25% and productive loans (AGR) ranging from 30 to 32%. However, she emphasizes that the high interest rates reflect the sector's high operational costs, including expensive refinancing and heavy management charges.
The new zero-interest micro-credit scheme is expected to provide a boost to the economy, particularly in the context of Tunisia's current economic challenges. Gharbi believes that the scheme will help stimulate investment and consumption, but with certain conditions. She emphasizes that the loan amounts are limited, and the scheme's impact on employment will be modest but real.
The Central Bank of Tunisia and the microfinance sector have a proven track record of managing risk without guarantees. Gharbi notes that the sector uses a thorough evaluation process, including cash-flow analysis, stock control, and verification of invoices, to assess the creditworthiness of borrowers. This approach has resulted in a low risk of default, with the sector's cost of risk remaining below 1%.
The introduction of zero-interest micro-crédits is part of a broader effort to promote financial inclusion and support economic growth in Tunisia. The scheme is expected to benefit individuals, micro-projects, and small businesses, and may help reduce the country's reliance on expensive banking services. Key stakeholders will be monitoring the scheme's impact on the economy and the banking sector.
Key points
- The new micro-credit scheme offers zero-interest loans to individuals and small businesses without guarantees.
- The scheme aims to promote entrepreneurship, job creation, and financial inclusion in Tunisia.
- The microfinance sector has a proven track record of managing risk and supporting economic growth in Tunisia.
