The Covid 2019 pandemic was not only unprecedented and unexpected, it was also disruptive. Like many companies, Baobab Group was impacted, but this crisis was also an opportunity to reinvent ourselves. It confirmed the need to transform our business model. Access to credit is vital in times of crisis and at Baobab Group we made every effort since the start of the Covid pandemic to support our small business customers in the countries we operate in.
Although we experienced a sudden slowdown in business during the first half of 2020, we saw business recover quickly towards the end of the year with an 11% growth of the loan book in the last 4 months of the year. The teams at Baobab have demonstrated resilience and responsiveness.