NAIROBI, Kenya, Dec 5 – The provider of dialysis services in Africa, the Africa Healthcare Network (AHN), has received $20 million (Sh3.07 billion) in funding from Africa50, AfriInvest, and Tokyo-based Ohara Pharmaceutical Co. Ltd. to expand in Africa.
With 45 clinics across the continent, the equity and debt funding will be used to open new facilities in underserved regions.
Likewise, AHN plans to invest in training and development programs for its over 500 employees.
“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,” AHN CEO Matt Williams said.
Africa50, which led the equity funding, invests in high-impact, high-growth businesses and projects across the continent.
On the other hand, AfricInvest, which provided debt financing through its Transform Health Fund (THF), is a pan-African investment platform that supports businesses driving economic growth and social development.
THF is an innovative blended-finance fund that invests in locally-led health supply chains, care delivery, and digital solutions in Africa.
Under the leadership of AfricInvest, along with the Health Finance Coalition, a group of global health funders hosted by Malaria No More, the fund finances enterprises that improve health system resilience and pandemic preparedness across the continent.
“We are excited to be partnering with AHN to further their mission of improving access to quality kidney care across Africa,” Africa50 Managing Director and Head of Infrastructure Investments Raza Hasnani said.
“The AHN team has already achieved significant milestones, and we look forward to being part of the journey to impact more lives,” Hasnani added.
“This partnership is aligned with Africa50’s strategic focus on healthcare, a sector which can deliver both positive impact and attractive investment returns.”
The collaboration between AHN, Africa50, and AfricInvest underscores the importance of high-impact partnerships in addressing pressing healthcare challenges in Africa.
As part of the transaction, AHN received support on completion deliverables related to the transaction from CrossBoundary, an advisory group focused on unlocking private capital in underserved markets.
“We are proud to be partnering with the entire team at AHN in its mission to improve access to quality, affordable healthcare services in Africa, which is fully aligned with THF’s impact-first strategic focus along the healthcare value chain,” Faisal Jiwa, Co-Lead of AfricInvest’s Transform Health Fund, added.
Nikhil Pereira-Kamath, Executive Chairman and Co-Founder of AHN, reiterated the power of the partnership: “We’ve seen tremendous growth in recent years, growing from 17 centers at the end of 2021 to nearly 50 centers and over 500 team members by year end 2023.”
“With an acute focus on high quality patient care, we look forward to Africa50 and AfricInvest supporting our rapid expansion across the continent with the ambitious goal of achieving 100+ centers by 2025, and further growth beyond.”
