The proposed project consists of a senior revolving loan to an SPV managed by Barak Fund Management Ltd to provide trade and commodity finance to enterprises operating in Africa. The loan proceeds would invest alongside Barak's short-term African trade and commodity funds; the Project will focus primarily on supporting small and medium enterprises in the agricultural sector, although other sectors, such as consumer goods, will also be financed.
The total Project cost is approximately US$120 million, consisting of US$60 million in equity or junior capital provided by a Junior Investor and US$60 million in senior debt provided by IFC.
Barak was established in 2009 by its two co-founders and part owners, Jean Craven and Prieur Du Plessis, and operates funds specializing in structured trade finance, commodity-backed transactions and other asset-backed projects across 30 African countries. Additionally, an impact investment fund based in the United States will be the equity or junior investor in the Project.
Barak Fund Management Ltd
+27 (11) 071 9124
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