AfDB backs Abraaj's Growth Markets Health Fund

24 Mar 2016

The Board of Directors of the African Development Bank (AfDB) has approved a US$25mn equity investment in the Abraaj Growth Markets Health (Africa) Fund (the “Fund”), the Africa focused parallel partnership of the Abraaj Growth Markets Health Fund. This contribution will allow the Fund to provide access to finance and capacity building for scalable and sustainable healthcare models for lower-middle and low-income segments of the populations in Africa. The proposal is well aligned with the Bank’s High Five Item on Improving the Lives of Africans and with various Bank and target country strategies.

The Fund will address investment capital needs of growing healthcare demands that are driven by Africa’s rapid urbanization and attendant population growth. The urban growth is also associated with a growing middle class that in turn drives consumption of goods and services including private health care. The Fund’s investment will see a major improvement in health care infrastructure and quality of services at affordable pricing for the target population.

The Fund Manager, i.e. The Abraaj Group, is one of the most experienced fund managers in Africa in this sector, with over 18 investments in healthcare in Africa alone. Its comparative advantage stems from a strong local presence in target zones and the quality of its team, with demonstrable first-hand experience in private equity healthcare management in Africa.

The main development outcomes are expected to stem from increased access to affordable and quality healthcare services and direct benefits to low and middle-income households, mothers and children, with further benefits expected to arise from private sector development based on investments in scalable and sustainable healthcare companies.

 

For more information, please see here.

« Back to Member News

@AVCA_Africa is coming to Lagos, this September! Join us from Wednesday, 11th September – Friday, 13th September fo… https://t.co/0dxQN0kNIZ

@norfund_ makes investment into Nigeria’s Sundry Foods, an integrated foods service company. Read more:… https://t.co/7xoVNhilcb

Investec Asset Management's Emerging Africa Infrastructure Fund announces two milestone renewable energy projects i… https://t.co/ZgZ63McLto

RT @AfCDigest: Fawry's oversubscribed IPO last week in Cairo gives a few of its private equity backers partial exits from their investments…

TPG Growth announces takeover of Abraaj’s Growth Markets Health Fund. Read more: https://t.co/Ex9xTQGEdH

;