34034 - IFHA II

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Summary of Investment Information

Project Number

34034

Company Name

IFHA-II COÖPERATIEF U.A.

Date SPI Disclosed

Feb 17, 2014

Country

Africa Region

Region

Africa

Projected Board Date

Mar 19, 2014

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 6, 2026

Department

Regional Industry - MAS Africa

Industry

Health, Education and Life Sciences

Previous Events

Approved : Apr 17, 2014
Signed : Jun 19, 2014
Invested : Jun 29, 2010

Sector

Hospitals and Clinics

Project Description

The Investment Fund for Health in Africa II (‘IFHA II’ or the ‘Fund’) is a successor fund of the Investment Fund for Health in Africa (IFHA), a Private Equity (PE) fund that invests in Small and Medium Enterprises (SMEs) in the healthcare sector in Africa. The Fund will invest in the healthcare provision, wholesale and distribution of healthcare products, medical insurance and manufacture of healthcare products sectors in Africa.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	24.0

Development Impact

The Project is expected to contribute to the development of health and health care provision in Africa, through the investment of capital and provision of technical expertise, to small and medium healthcare providers. Healthcare is a fundamental backbone to economic development and poverty alleviation. The Fund is expected to invest in companies aiming to increase access to quality health-related goods and services, which in turn should lead to increased employment opportunities for healthcare professionals in Africa and increase access and standards of quality of health services on the African continent. The Fund Manager will adopt international best practices for environmental and social risk assessment and management, and improve transparency and corporate governance, thus transferring knowledge and skills to portfolio companies

IFC will provide support to the operations of the Fund by sharing global best practices for investment funds as applicable to the region in corporate governance, environmental and social standards. Also, through its participation in the Fund's Advisory Committee, IFC will share its deep experience investing in healthcare in Africa and also play a role in assisting the Fund Manager to adopt best practice corporate governance, environmental and social standards at the company and portfolio company level.

E&S Category Rationale / Risks and Mitigation

The project has been categorised as FI-2 according to IFC’s Environmental and Social Review Procedures. IFHA II is specialist private equity fund targeting companies operating in the healthcare sector across Africa. The environmental & Social (E&S) risks and impacts associated with this sector are considered limited and can be managed through readily available mitigation measures. The applicable requirements are the Exclusion List, the National E&S Laws in the countries where portfolio companies are located, and the Performance Standards.

In accordance with IFC's Access to Information Policy, IFC will periodically disclose the names, locations and sectors of sub-projects that have been supported by IFC investments through private equity funds, subject to regulatory constraints and market sensitivities. The sub-project(s) listed below reflect(s) the status of the portfolio as of January 1, 2026.

Investee	Country of Investment	Sector
Carepay	Kenya	Other Health Services
C Care International	Mauritius	Hospitals and Clinics
CLMC	Kenya	Other Health Services
HHI	Kenya	Hospitals and Clinics
HNL IL	Nigeria	General Insurance (Non-Life)
JHIL	Nigeria	Hospitals and Clinics
Labotec	South Africa	Medical Equipment and Supplies Wholesalers
Neuberg Global Laboratories	South Africa	Medical and Diagnostic Services
Trivitron Africa	Kenya	Medical Equipment and Supplies Wholesalers

The main E&S risks and impacts of this project relate to the ability of the Fund Manager to conduct adequate E&S due diligence and monitoring to identify and manage the E&S risks associated with the activities of the portfolio companies in line with IFC’s policy requirements. The Fund Manager has an E&S management system which is being adequately implemented. The E&S Officer for IFHA I will be retained by IFHA II and the existing E&S risk management system will also be used for IFHA II. The pipeline for IFHA II indicates that the fund is likely to have larger projects in its portfolio and as such the Fund Manager will be required to conduct more detailed E&S assessments for these projects. In addition, the Fund Manager will be required to provide E&S risk management training to new members of the team.

Contacts

For Inquiries About the Project, Contact

African Health Systems Management Company BV
Pietersbergweg 17, 1105 BM Amsterdam, The Netherlands
Attention: Mr. Max Coppoolse

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

African Health Systems Management Company BV
Pietersbergweg 17, 1105 BM Amsterdam, The Netherlands
Attention: Mr. Max Coppoolse

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Action Required	Completion Date	Status
Submission of first three E&S assessments conducted for portfolio companies and the E&S assessments for all category A projects (if applicable)	Prior to investment in the portfolio companies	Completed
E&S risk management training	Ongoing	Completed

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