Challenge
More than 600 million people in Africa lack access to basic healthcare services, and overall health spending in Africa remains inadequate to meet increasing healthcare demands. Africa is home to over 16 percent of the world’s population and shoulders 23 percent of the global burden of disease, but it accounts for just one percent of annual global health expenditures.
The COVID-19 pandemic further exposed Africa’s healthcare needs, especially weaknesses in supply chains.
Solution and Impact
A DFC equity investment of up to $10 million in AfricInvest’s Transform Health Fund will support investments in Africa’s healthcare services and health supply chain sectors, increasing healthcare access for low-income populations.
The Transform Health Fund is a majority women-led, blended-finance fund that invests in small and medium enterprises working in the medical device manufacturing, pharmaceutical supply chain, primary care, and digital health sectors. These companies offer products and services to patients in some of Africa’s most vulnerable communities to improve health system resilience and pandemic preparedness across the continent.
DFC’s equity investment is partnered with $1 million in catalytic funding from USAID.
“The Transform Health Fund is an exciting investment that will have an immediate impact in providing quality healthcare and improving supply chains. Private sector investments are critical for equipping and empowering communities to effectively expand accessible healthcare services.”
- Scott Nathan, DFC CEO