PROJECT

Projects

Summary of Investment Information

Project Number

37873

Company Name

MEDICAL CREDIT FUND

Date SPI Disclosed

Aug 26, 2016

Country

Kenya

Region

Africa

Projected Board Date

Sep 30, 2016

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Apr 28, 2023

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Dec 6, 2016
Signed : May 31, 2017
Invested : Jun 28, 2018

Sector

Hospitals and Clinics

Additional Project Attributes

Blended Finance

Project Description

The Medical Credit Fund (MCF) is a financing and technical assistance vehicle with a mandate to improve access to quality healthcare for underserved populations in Sub-Saharan Africa. It has successfully served the smaller end of the small and medium enterprise (“SME”) sector, including many first-time borrowers, for the last six years. To date, it has built partnerships with 10 local commercial banks in Kenya, Tanzania, Ghana and Nigeria, and has jointly extended 868 loans to healthcare providers, totaling over US$16.2 million, with MCF itself funding US$7.8 million.

MCF has identified an opportunity to scale-up its activities to serve more and larger healthcare SMEs on the continent, including businesses that cater to the health sector as well as health providers. To fund this scale-up and broadening of scope, MCF is raising US$35-40 million in additional financing (the “Project”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation