This archive report was first published on 28 November 2019.
On the sidelines of the Investment for Africa Forum in Cairo, the International Finance Corporation (IFC) signed a deal to launch a $115 million health care firm targeting East and Southern Africa.
Published on November 28, 2019, the deal marks a significant investment in the region's health care sector.
The holding company, Hospital Holdings Investment (HHI), will acquire and integrate targeted health care service businesses across the region, with a focus on providing secondary and out-of-hospital care for middle to lower-middle-income patients.
IFC is investing $22 million in HHI, an investment platform set up by Investment Funds for Health in Africa (IFHA-II), and has mobilized $43.2 million from other investors.
European development finance organizations Swedfund, Proparco, Finnfund, and IFU, Danish Investment Fund for Developing countries, are also supporting the initiative.
HHI expects to grow from one hospital and 35 clinics to five hospitals and 52 clinics, serving up to 1.8 million patients annually over the next five years.
