We believe that for Africa to continue to grow at the pace that has been seen historically, all entities with sound business models should be provided with a financial solution that is right for their needs, irrespective of the size of the company and the time-frame of required funding.
Barak launched its medium-term and longer-term Mikopo and Asha Funds to focus on the development financing requirements of its borrower base. This funding opportunity complements the full Barak suite, and although Barak recognises the importance of working capital trade financing in Africa, it also acknowledges that companies will look to expand operations down the line when the demand is realised.
The shorter-term funding includes an Impact Financing and Shariah-compliant Fund, with these products focusing on inventory and working capital cycles, which Barak advocates as the primary pillars of growth. We do not use a one-dimensional view when engaging with our borrowers – instead, the reviewing of all facets of business remain crucial to Barak’s sustainability.