IFC to Funnel More Funds into Kenyan Healthcare
Posted on :Wednesday , 18th April 2018
The International Finance Corporation is actively looking to allocate resources into Kenya's healthcare sector through a Sh11 billion ($107 million) equity fund in Holland.
The World Bank's private loaning arm, IFC has committed the Investment Fund for Health in Africa (IFHA II) to the “acquisition and integration of targeted healthcare services businesses in East and Southern Africa.”
IFC is supported by a long-list of high-profile companies like Pfizer, African Development Bank and European Investment Bank. IFC has also invested sums in AAR Group, the human services supplier and CarePay Limited who incepted the M-Tiba stage.
An IFC representative said that assets will be coordinated towards Kenya, however he did not provide any specifics to the same.
“The Project is expected to increase access to affordable, quality healthcare and specialist services in East and Southern Africa, where there is an undersupply and increasing demand across all income group,” IFC says in its disclosures.
“Through the construction and set up of new clinics and hospitals, this Project will go a long way in increasing and improving the much-needed healthcare infrastructure. The key acquisition targets are in East and Southern Africa.”
IFHA's first interest in Kenya came in 2010, when Sh750 million was spent to acquire a 20 percent stake in the AAR Group.
In 2013, the IFC made a Sh340 million investmentin AAR; the IFHA likewise expanded their stake by contributing an unspecified amout into AAR.
IFHA is known to contribute sums between Sh75.5 million and Sh1.1 billion, ideally in pharmaceutical related enterprises.
It additionally funds firms creating moderate HIV/Aids testing arrangements.
AAR is presently focused in 3 countries; Kenya, Uganda and Tanzania and will spend around Sh2.5 billion to set up the new clinic on Kiambu Road with a capacity of more than 100 beds.
The firm has 19 branches in Kenya.
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