Malaik, crowed sourcing platform which describes itself as a global portal for high impact investing in African businesses, launched this week a call for applications for funding to African entrepreneurs. By Ujuh Reporter
In a statement launching the call for applications Malaik said access to finance is a challenge for entrepreneurs across the world. The problem is most severe in Africa and yet small and medium-sized enterprises (SME’s) are the primary job creation engine in Africa, accounting for over 95% of firms and 60%-70% of employment.
Neku Atawodi, founder and CEO of Malaik said “Africa is brimming with entrepreneurs with growing high impact businesses that could not only positively impact Africa, but the world.”
He added that “Access to finance has always been a tough challenge to overcome and people have typically not wanted to invest in African businesses as they have historically been considered too risky. However, the African narrative is changing for the better and the continent’s exponential growth in the last decade shows that an investment in impact focused African businesses can yield high returns.”
“Young companies all over Africa face a scarcity of funds to fuel their growth,” said Atawodi. “Apart from banks and occasional angel investors, there is often nowhere to turn. Malaik is turning this crisis into an opportunity for start-ups and investors alike by offering stakes in young African companies to the crowd. Our unique impact tracker means that investors can track their investments’ impact on the platform.”
Entrepreneurs across Africa are encouraged to submit their applications to join the Malaik platform as an opportunity to raise funds for their businesses. Open to start-ups with high impact, innovative, original and diverse ideas ready for potential investment. On passing Malaik’s due diligence, start ups now have the opportunity to attract a diverse crowd of investors and supporters via equity finance. Details on how to apply can be found at: www.malaik.com.
The statement said since the launch of the portal, Malaik has fully funded its first company i-Drop water to the tune of over a quarter of a million dollars and has been chosen to demo its unique innovation on stage at one of Europe’s largest technology in finance conferences FinovateEurope 2016 in London from the 9th-10th of February. FinovateEurope is one of the biggest financial conferences in Europe and attracts the most notable players in financial services technology from across the world. Malaik will be the only African company demo’ing at the conference. – Ujuh