IFC provides funding to healthcare business in Ghana

The IFC, a member of the World Bank Group, has announced a $5.2 million loan to Nyaho Medical Centre to support the Ghanaian healthcare provider’s expansion outside Accra and the upgrade of its existing hospital so it can better serve its patients.

The IFC’s loan will help Nyaho establish primary and urgent care facilities in the cities of Tema, Takoradi and Kumasi, and upgrade its main hospital in Ghana’s capital, Accra.

Elikem Tamaklo, managing director of Nyaho said, “The partnership with IFC is very instrumental in achieving our mission of transforming lives of patients and inspiring hope for a better Africa. The impact of the coronavirus pandemic is testament to the need for improving access to quality healthcare in Ghana.”

Ronke Ogunsulire, IFC country manager for Ghana said, “We’re pleased to support Nyaho’s expansion, particularly during this Covid-19 pandemic, because it will address the growing demand for quality medical services in Ghana. Our experience from around the world shows that in countries like Ghana the combination of public and private health care solutions helps improve access to services and quality of life.”

IFC has an active portfolio of about $2 billion in healthcare companies in emerging markets, including more than $165 million in sub-Saharan Africa, as of December 2019. Through these investments, IFC helps private providers support governments in their goal of reaching expanded or universal health coverage.

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