(Ecofin Agency) - Malian industrial paver and slab producer, Rock, becomes the first recipient of support from Zira Capital Investment Fund since January 2023. The financial backing and guidance from the investment fund will help this SME strengthen its production and sales.

Zira Capital, a fund that supports start-ups and SMEs in Mali, recently added a new company called Rock to its seed-stage portfolio. The announcement was made on their LinkedIn page on Friday, July 21.

Operating in Mali since 2019, Rock specializes in producing industrial pavers and slabs for both interior and exterior use. Founded by Malian entrepreneur Mohamed Arbi, the company secured an undisclosed capital investment, in exchange for a minority stake in its funding round.

The financial support from Zira Capital will allow Rock to expand its production capabilities and sales. The company will also receive guidance in streamlining its key functions and improving its accounting management.

Rock is now the 9th Malian company to be integrated into Zira Capital's portfolio and the first to receive support from the investment fund in 2023. Before Rock, Zira had invested in various sectors in Mali, including waste management, transportation, services, industry, fertilizer production, cosmetics distribution, and clothing.

Since its establishment in 2022, Zira Capital has been targeting high-potential SMEs in Mali, offering capital investment to bolster their equity. The fund aims to foster the development of local SMEs in Mali by providing investment amounts ranging from 50 to 300 million CFA francs per project, for 4 to 7 years.

Chamberline Moko