Samend©ni: Richard Badi, the promoter of the Karos agro-aquaculture company, specializing in the production of fish in floating cages, announced on Thursday that the financial backing from the Dumu Ka Fa Fund has significantly enhanced the company’s production capacity. “The Dumu Ka Fa fund is there to help small businesses succeed. Today, with the funding we received, our production capacity has increased. We have acquired equipment and our staff has increased significantly,” said Richard Badi, during a reporting mission on the construction of agro-pastoral and fishing infrastructure.
According to Burkina Information Agency, the company currently employs more than 30 people, both permanent and temporary. Mr. Badi highlighted the progressive funding they have received, including initial support of 73 million CFA francs, followed by 20 million CFA francs, and now a substantial 250 million CFA francs, which they aim to repay soon. He emphasized the partnership with the Dumu Ka Fa Fund, which supports their projects tailored to the ground realities and potential.
Mr. Badi also expressed a desire for the government to take measures for local fish feed production, which could notably reduce production costs and make their products more accessible. He noted that despite the high valuation of their fish, the current production cost remains low.
Karos agro-aquaculture company, established in 2019, operates across Burkina Faso, specializing in fish production using floating cages. It also offers services related to fish production, including cage design, manufacturing, and installation, with three types of large-capacity cages: rectangular, square, and circular.
The Dumu Ka Fa fund, created in February 2024 by the Burkinabe government, was designed to meet the financing needs in the agro-pastoral and fisheries sectors, offering credit to individuals, businesses, cooperatives, and public institutions. Financing ranges from 100,000 CFA francs to 500 million CFA francs with an annual interest rate of 5%.
