Medical Credit Fund, a vehicle dedicated to financing small and medium-sized enterprises (SMEs) in healthcare in Africa, is close to securing an $18 million guarantee to increase its lending to private healthcare providers in sub-Saharan Africa.
The guarantee to be provided by the US Agency for Development Finance was approved by the institution’s board of directors at its last quarterly meeting.
“Through the Open Doors African Private Healthcare Initiative, a mechanism aimed at supporting the private healthcare sector in Africa, the US International Development Finance Corporation (DFC), will support loans to SMEs in the healthcare sector, by focusing on companies helping their communities cope with the covid-19 pandemic, ”said the US Development Bank
This guarantee is an emanation of the American government which, under the impetus of its president Joe Biden, is committed through the DFC, to invest in critical sectors (health, energy, technologies, infrastructures) which directly impact populations in emerging countries.
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Incorporated in 2009 as part of the PharmAccess Group, Medical Credit Fund claims to have provided loans of up to $100 million to more than 1,800 healthcare companies on the continent to date. The fund, which works to improve access to health services for low-income patients, provides lines of credit of up to $ 2.5 million.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer
Medical Credit Fund Africa