Tunisia: Car Manufacturer Wallys Car Raises 10 MTD from Ekuity Capital

Wallys Car, the Tunisian car manufacturer and Ekuity Capital (formerly CTKD), today announced Tuesday, June 11, 2019, that they have completed a fundraising of 10 million Tunisian dinars (MDT).

Driven by a common vision of the automobile, Wallys Car and Ekuity Capital decided to join forces in order to further develop the manufacturer. Since its creation in 2006, Wallys Car has combined expertise and entrepreneurial audacity. The company is the first Arab and African automaker to export its vehicles to Europe. It also exports its vehicles to the countries of the Middle East and more particularly to the countries of the Mediterranean basin. Thought by its founding duo Zied and Omar Guiga, the company is the symbol of a generation of exclusive and atypical car manufacturers.

The two companies have decided to join forces to allow Wallys Car to accelerate the development of its models and its national and international distribution network. “Wallys Car and Ekuity Capital share the same values: an entrepreneurial spirit that gives priority to creating long-term value. We are pleased to have the support of Ekuity Capital. Their support will be invaluable in pursuing our development strategy, ”said Omar Guiga, CEO of Wallys Car.

Ekuity Capital, created in 1976 to promote the Tunisian hotel and tourism sector, is currently one of the largest diversified investment institutions in Tunisia whose primary objective is to create value by developing assets in the long term, by actively encouraging companies to make investments that generate organic growth and profitability, and by supporting their acquisitions.

Ekuity Capital currently holds interests in a portfolio of more than 20 companies in Tunisia.