A key challenge facing African small and medium-sized enterprises (SMEs) is access to finance to survive and grow. The French-speaking part of Africa is particularly disadvantaged: 98% of private funding goes to South Africa, Nigeria, Egypt and Kenya. With direct recourse to the traditional banking system virtually impossible, companies and investment funds are offering solutions to support these SMEs.
Having directed the Agency for the Development and Control of SMEs in Senegal, Idrissa Diabira is well aware that one of the main obstacles to financing even the most promising small businesses is the lack of information available to banks.
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Helping you build for the long term
Business information systems are being developed for SMEs in French-speaking Africa. These systems can be used by banks and other financial institutions.
Understand the operating cycle
Birimian Ventures is an investment company with a thorough understanding of the business. For example, Birimian Ventures finances African fashion and design brands that scare off traditional banks.
As long as we all understand the operating cycle of this particular type of business, we provide revolving loans that enable creative entrepreneurs and creative businesses to finance their collections, the purchase of materials and various inputs for their production.’
Boasting 27 companies in its portfolio, Birimian Ventures is starting to set a precedent. A unique one-stop shop for financing cultural and creative entrepreneurs has been set up in Côte d’Ivoire and is due to be rolled out in other French-speaking African countries.
