NAIROBI, Kenya, Jul 20 – Medical Credit Fund has made the first disbursement of loans under the second phase of its loan guarantee facility that target small and medium-sized healthcare companies in Africa.
The loan which totals to Sh45.2 million has been given to Sori Lakeside Hospital based in Homabay County in Kenya.
According to the company, this new phase of funding is expected to increase investments in African health infrastructure and improve access to quality primary healthcare services.
Arjan Poels the Managing Director of Medical Credit Fund says the second phase is also geared towards driving equitable and quality healthcare by supporting clinics to improve the services they deliver.
Poels has also revealed that the second phase of funding has received a catalytic investment of Sh900 million.
It will start in its current countries of operation, which include; Kenya, Ghana, Nigeria, Tanzania and Uganda, then gradually extend to other countries.
Isaiah Okoth, Country Director Kenya, PharmAccess Foundation says, “Attainment of Universal Health Coverage requires a balance between enabling citizens to access care without experiencing financial hardship as well as availability of healthcare facilities that offer quality care. We are harnessing the potential of the mobile phone to improve access to quality healthcare in Africa.”
The first phase of funding was announced in 2017, and a total of Sh7 billion has already been disbursed with a repayment rate of ninety seven percent.
Medical Credit Fund is a not-for-profit fund exclusively dedicated to financing small and medium-sized healthcare companies in Africa.
It was established as part of PharmAccess Group, a non-profit organization working to make inclusive health markets work in Africa.