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Africa Healthcare Network secures $20m for continent-wide expansion

Daba Finance/Africa Healthcare Network raises $20 million
BREAKING NEWSNovember 23, 2023 at 3:50 PM UTC

Africa Healthcare Network (AHN) has secured $20 million in equity and debt funding from a consortium of investors led by two prominent African institutions, Africa50 and AfricInvest, along with Tokyo-based Ohara Pharmaceutical Co Ltd.

The funds will play a crucial role in supporting AHN's accelerated pan-African growth and expansion initiatives, addressing significant gaps in the availability of high-quality and affordable renal care across the continent. Africa50, leading the equity funding, specializes in investing in high-impact, high-growth businesses and projects across Africa. AfricInvest contributed debt financing through its Transform Health Fund (THF). Ohara Pharmaceutical Co Ltd also played a key role in the consortium.

Matt Williams, AHN's Chief Executive, expressed optimism about the impact of this funding in the fight against kidney disease and the improvement of the overall healthcare landscape in Africa. The investment will empower AHN to broaden access to care, enhance technology and disease prevention, strengthen its healthcare workforce, and maximize its development impact and sustainability.

Key Takeaways

As Africa's population continues to grow, the demand for dialysis is expanding proportionally, creating a need for increased services in the healthcare sector. AHN anticipates a 20% year-on-year growth in the number of patients requiring dialysis. The demographic growth in the continent presents an opportunity for private providers, especially considering that many African healthcare systems are evolving from a relatively low starting point. Factors such as increased urbanization and improvements in education contribute to the emergence of new business opportunities in African healthcare. The healthcare sector in Africa is projected to generate $673 million in revenue in 2023. With an annual growth rate of nearly 13%, the market volume is expected to approach $1.1 billion by 2027, according to data from Statista. The need for private services is emphasized by the fact that, on their own, African hospitals typically do not generate profits from providing dialysis care. This underscores the significance of private providers like AHN in addressing the growing healthcare demands and ensuring the availability of essential services for the increasing population in Africa.

Africa Health Network
Africa50
AfricInvest
Ohara Pharmaceutical
Matt Williams
Transform Health Fund

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