AfricInvest announces new debt and mezzanine health fund
AfricInvest and The Health Finance Coalition (HFC) have announced commitments of $50 million for the pan-African Transform Health Fund, to finance the scaling of proven, innovative models that improve access, affordability, resilience, and quality of healthcare in Africa.
The Transform Health Fund will provide debt and mezzanine financing to scale high-impact health enterprises serving vulnerable communities, while offering risk adjusted returns.
The U.S. International Development Finance Corporation (DFC), U.S. Agency for International Development (USAID), Royal Philips, Merck & Co., Inc., FSD Africa Investments, Netri Foundation, Anesvad Foundation, Grand Challenges Canada, Chemonics International, and MCJ Amelior Foundation have all announced their commitments, subject to final due diligence before closing. IFC is in the advanced stage of approving its investment in the fund.
The Transform Health Fund is a blended-finance vehicle focused on locally-led health supply chain, care delivery, and digital solutions in Africa. The fund is a collaborative effort bringing together commercial, government, and donor investments under the leadership of AfricInvest and the Health Finance Coalition (a group of leading global health funders hosted by Malaria No More) to finance enterprises that improve health system resilience and pandemic preparedness across the continent.
“Three decades of expertise and insight allows AfricInvest to leverage a wide range of support throughout many regions of the continent,” said Ziad Oueslati, founding partner of AfricInvest. “We believe our team is well-positioned to continue financing African health-sector companies through innovative financing models such as the Transform Health Fund.”