AfDB and Investment Fund for Health in Africa Sign Euro 10 Million Equity Investment

Share |

Tunis, 29 April 2010- The African Development Bank (AfDB) has committed Euro 10 million equity in the Investment Fund for Health in Africa (IFHA).

This agreement was signed on 29 April 2010 in Tunis, by AfDB Private Sector Operations Director, Mr. Tim Turner and IFHA Managing Director, Mr Max Coppoolse.

IFHA, based in Mauritius, is an innovative private equity vehicle dedicated to invest growth capital in small and medium sized enterprises (SMEs) in the healthcare sector in Africa. The vehicle uses market based solutions. Tts objective is to enhance the efficiency and quality of private health care in Africa. It focuses mainly on existing health insurance organizations, pharmaceutical production facilities and distribution chains.

The private sector plays a significant role in improving lives in Africa in the health sector. It already delivers around 50 percent of health care goods and services. To support the sector, IFHA plans to invest in 15-25 high-growth SMEs. This will boost their liquidity and improve their business processes, allowing them to expand their services and outreach. This will also create jobs, increase livelihoods, and help to reduce poverty as well as increase access to quality health services. The AfDB is also supporting IFHA developing an evaluation and monitoring system that captures its developmental activities.

Speaking at the ceremony, Mr. Tim Turner underscored the importance of this investment and stated that: “Better healthcare and social services are most needed in Africa. By investing in IFHA, the Bank is sending a strong signal for other private investors in Africa. There is a need to invest in sound investment opportunities also with high developmental outcomes.”

For his part, Max Coppoolse, IFHA’s Managing Director, noted that: “We are committed to providing pioneer solutions and growth capital for healthcare SMEs. Our objective is to increase their efficiency and quality to better serve more Africans”.

The investment aligns well with the Bank’s updated Private Sector Strategy of strengthening financial intermediation for commercially sustainable SMEs in various sectors. IFHA investment is also aligned with the Bank’s Health Strategy and its Gender Policy.

About IFHA:

The Investment Fund for Health in Africa (IFHA) is a private equity fund dedicated to small and medium size (equity) investments in private healthcare companies in (sub-Saharan) Africa. IFHA invests in private healthcare companies that operate in fast-growing markets and show unique advantages over the competition. IFHA predominantly focuses on companies active in pharmaceutical supplies, health insurance and private hospitals and laboratories. IFHA responds to the growing need for capital investments in private healthcare in Africa, which are driven by the market growth and improved economic performance in Africa over the past number of years.

You are currently offline. Some pages or content may fail to load.