Joevas Asare, Managing Director of ARK Group International, believes Sierra Leone’s private sector holds huge potential to drive economic growth. Speaking during an interview at the Brookfields Hotel in Freetown, where he is currently visiting to explore opportunities and connect with the private sector and other key sectors, Joevas explained how his organization is helping small and medium enterprises (SMEs) bridge the funding gap through “blended finance.”
ARK Group International is based in London and operates in seven African countries. The organization focuses on what Joevas calls “the missing middle.” These are promising businesses that are too large for microfinance but too small to attract big investors. “Our mission is to support companies in this middle space to access the funding and investment they need to grow,” he told Salone Messenger.
To achieve this, the organization uses blended finance — a model that brings together different types of investors and funders who have different priorities. For example, some funders focus on impact and provide grants, while others focus on financial returns. ARK Group connects both groups to support SMEs. “We help companies access grants, and then use that to build their profile and attract private investment,” Joevas explained.
He also sees the diaspora community as an important partner in SME growth. Diaspora investors, he said, often have a personal connection to Sierra Leone and are willing to take a more flexible approach when supporting businesses. “They might see something that’s not perfect, but because of their connection, they’re willing to invest and help it grow,” he added.
However, one of the biggest challenges SMEs face is the information gap. Many businesses are unaware of available grants, while funders struggle to reach potential applicants. To address this, ARK Group has created a free grants databasewhere businesses can browse opportunities by sector and location. For those who need extra help, the organization offers a partnership programme that pairs SMEs with trained bid writers — often graduates from top universities like Oxford and LSE — to help them submit strong applications.
Joevas advised entrepreneurs to focus on their vision and growth, not just funding. “Your job is to grow your business. Don’t get lost chasing funding alone. Strong, credible businesses attract the right partners,” he said.
He sees Sierra Leone as a country with untapped opportunities. “Every country has its challenges, but Sierra Leone has space for innovation and private sector growth. We want to be part of that ecosystem,” he concluded.
