Ugandan arm of Ciel Healthcare receives $6.5 million from shareholders, including IFC

See the source image

The International Finance Corporation (IFC) approved a $4 million loan to International Medical Group (IMG), the Ugandan subsidiary of Ciel Healthcare, a Mauritius-based company that specializes in healthcare center management. The Ugandan hospital will also receive $2.5 million from Proparco, Kibo Capital and Ciel Limited, and other shareholders of its parent company.

See the source image

The resource will enable IMG to finance a liquidity shortfall that resulted from the covid-19 pandemic. It will be used to refinance existing debt and secure a longer grace period tailored to current cash requirements. It is not certain that Ciel Healthcare will seek this type of financial support for the other hospitals on its platform.

In addition to the International Medical Group, Ciel Healthcare has also invested in C-Care in Mauritius and Hygeia in Nigeria. The company takes majority stakes in its investments and strives to help them achieve standards that meet the highest international standards. The platform’s objective is to build an integrated network of healthcare providers in the markets where it operates.


GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email:

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button