Swedfund Champions Innovation in African Health with USD 5 Million Investment in Health Fund
Swedfund invested USD 5 million into Transform Health Fund (THF) managed by AfricInvest. It is a blended-finance fund that will invest in African health care. The aim is to scale up proven and innovative models and initiatives that improve access to affordable care, thereby increasing the quality and accessibility of health care across Africa.
Specifically, the Transform Health Fund will prioritize investments in sub-Saharan Africa in three critical areas targeting low-income patients: supply chain transformation, innovative care delivery models, and digital innovation.
Swedfund works in various ways to find business models and partners that enable us to reach more people who currently do not receive care, given the great needs that exist. This is a typical such investment. By financing healthcare in developing countries, conditions are created for medical expertise to be maintained and developed in the countries and it can be passed on to other healthcare facilities, says Sofia Gedeon, Investment Director at Swedfund.
A total of USD 50 million is invested from development institutions, commercial, public and private investors. In addition to Swedfund, other participants include Royal Philips, Merck & Co., Inc. (known as MSD outside the United States and Canada), U.S. International Development Finance Corporation (DFC), International Finance Corporation (IFC), FSD Africa Investments, Grand Challenges Canada (with funding from Global Affairs Canada), U.S. Agency for International Development (USAID), Netri Foundation, Anesvad Foundation, Chemonics International and MCJ Amelior Foundation.
Transform Health Fund will primarily provide debt and mezzanine financing to scale high-impact health companies serving vulnerable communities. The fund is expected to strengthen health systems in Africa, which are facing severe funding and capacity gaps – challenges exacerbated by COVID-19 and climate change – while working towards the Sustainable Development Goals (SDGs) and Universal Health Coverage (UHC).
Background: Healthcare financing in Africa
The opportunity: Innovative solutions to support African healthcare
AfricInvest, with its three decades of investment expertise, pan-African footprint and network, will provide funding to scale critical innovations that contribute to a more resilient health ecosystem.
Sub-Saharan Africa is home to 14% of the world’s population, but it has 20% of the global burden of disease. And today, only 1.6 percent of annual investment in the world for the health sector reaches Africa.
Source : www.swedfund.se
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