Leading African institutions Africa50 and AfricInvest, as well as Tokyo-based Ohara Pharmaceutical Co., Ltd., have invested $20 million in equity and loan investment in Africa Healthcare Network (AHN), a leading supplier of dialysis services across the continent.
With the help of the money, AHN will be able to expand more quickly and fill in large gaps in the supply of reasonably priced, high-quality renal treatment throughout Africa.
Africa50 is a leading equity fundraising organisation that funds high-growth, high-impact companies and initiatives throughout the continent. AfricInvest, a prominent pan-African investment platform committed to assisting companies that propel economic growth and social development, supplied debt funding through its Transform Health Fund (THF).
THF is a cutting-edge blended-finance fund that makes investments in digital solutions, healthcare delivery and locally managed health supply chains throughout Africa. Under the direction of AfricInvest and the Health Finance Coalition, a consortium of prominent global health donors organised by Malaria No More, the fund provides capital to businesses that enhance the resilience of health systems and pandemic readiness throughout the continent.
Matt Williams, CEO of AHN, expressed his sentiment, stating, “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.”
Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50, said, “We are excited to be partnering with AHN to further their mission of improving access to quality kidney care across Africa. The AHN team has already achieved significant milestones and we look forward to being part of the journey to impact more lives. This partnership is aligned with Africa50’s strategic focus on healthcare, a sector which can deliver both positive impact and attractive investment returns.”
Nikhil Pereira-Kamath, Executive Chairman and Co-Founder of AHN, emphasised the importance of the collaboration, “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.”
Faisal Jiwa, Co-Lead of AfricInvest’s Transform Health Fund, added, “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. We believe AHN is uniquely positioned to build the healthcare ecosystem across the continent, led by a strong culture of impact and operational excellence.”
The relationship amongst AHN, Africa50 and AfricInvest highlights the value of high-impact collaborations in tackling urgent healthcare issues in Africa. As part of the deal, CrossBoundary, a consulting organisation that specialises in releasing private money in underserved regions, provided help to AHN on transaction-related completion deliverables.