Africa Healthcare Network Receives $20 Million in Funding for a Continent-wide Expansion Led by Africa50 and Africinvest.
Posted on : Wednesday, 10th January 2024
Africa Healthcare Network (AHN), a leading provider of dialysis services in Africa, has received a $20 million equity and debt investment from Africa50 and AfricInvest, two leading African institutions, as well as Tokyo-based Ohara Pharmaceutical Co., Ltd.
The funding will allow AHN to expand more quickly and address significant gaps in the availability of high-quality, affordable renal care throughout Africa.
Africa50, the lead investor, invests in high-impact, high-growth businesses and projects across the continent. AfricInvest is a leading pan-African investment platform dedicated to supporting businesses that drive economic growth and social development and it provided debt financing through its Transform Health Fund (THF).THF is a pioneering blended-finance fund that invests in Africa's locally led health supply chain, care delivery and digital solutions. The fund finances enterprises that improve health system resilience and pandemic preparedness across the continent, led by AfricInvest and the Health Finance Coalition, a group of leading global health funders hosted by Malaria No More.
The investment will enable AHN to increase access to care by rapidly expanding treatment into underserved areas, improve technology for disease prevention, improve its healthcare workforce and increase the impact and sustainability of development.
Matt Williams, CEO of AHN, stated, "With the support of Africa50 and AfricInvest, we are well-positioned to make a dramatic impact in the fight against kidney disease and improve the overall healthcare landscape in Africa".
The collaboration of AHN, Africa50, and AfricInvest emphasises the importance of high-impact partnerships in addressing Africa's pressing healthcare challenges. CrossBoundary, an advisory group focused on unlocking private capital in underserved markets, provided support on transaction completion deliverables as part of the transaction.
