Africa Healthcare Network (AHN), a provider of dialysis services in Africa, has secured $20 million in an equity and debt funding, from Africa50 and AfricInvest and Tokyo-based Ohara Pharmaceutical Co., Ltd.
The funding will enable Africa Healthcare Network to accelerate its growth and address significant gaps in the availability of high quality, affordable renal care across Africa.
Africa50, which led the equity funding, invests in high-impact, high-growth businesses and projects across the continent. AfricInvest, which provided debt financing through its Transform Health Fund (THF), is a pan-African investment platform, dedicated to supporting businesses that drive economic growth and social development.
THF is an innovative blended-finance fund that invests in locally-led health supply chain, care delivery, and digital solutions in Africa. Under the leadership of AfricInvest, along with the Health Finance Coalition, a group of global health funders hosted by Malaria No More, the fund finances enterprises that improve health system resilience and pandemic preparedness across the continent.
The investment will enable AHN to:
- Expand Access to Care: AHN has 45 clinics today and plans to continue growing rapidly, entering underserved regions to expand access to life-saving treatment.
- Enhance Technology and Disease Prevention: The funding will also accelerate AHN’s technological capabilities, including early identification and management of kidney disease.
- Strengthen its Healthcare Workforce: AHN will further invest in training and development programs for its 500+ employees, continuing to elevate the standard of care.
- Maximize Development Impact and Sustainability: Adhering to the highest ethical and ESG standards, AHN aspires to be a role model in healthcare and a force for good in its local communities.
Matt Williams, CEO of Africa Healthcare Network, expressed his excitement, stating, “With the support of Africa50 and AfricInvest, we are well-positioned to make a dramatic impact in the fight against kidney disease and improve the overall healthcare landscape in Africa”.
Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50, remarked, “We are excited to be partnering with AHN to further their mission of improving access to quality kidney care across Africa. The AHN team has already achieved significant milestones, and we look forward to being part of the journey to impact more lives. This partnership is aligned with Africa50’s strategic focus on healthcare, a sector which can deliver both positive impact and attractive investment returns”.
Faisal Jiwa, Co-Lead of AfricInvest’s Transform Health Fund, added, “We are proud to be partnering with the entire team at AHN in its mission to improve access to quality, affordable healthcare services in Africa, which is fully aligned with THF’s impact-first strategic focus along the healthcare value chain. We believe AHN is uniquely positioned to build the healthcare ecosystem across the continent, led by a strong culture of impact and operational excellence”.
Nikhil Pereira-Kamath, Executive Chairman and Co-Founder of Africa Healthcare Network, reiterated the power of the partnership, “We’ve seen tremendous growth in recent years, growing from 17 centers at the end of 2021 to nearly 50 centers and over 500 team members by year end 2023. With an acute focus on high quality patient care, we look forward to Africa50 and AfricInvest supporting our rapid expansion across the continent with the ambitious goal of achieving 100+ centers by 2025, and further growth beyond”.
The collaboration between AHN, Africa50, and AfricInvest underscores the importance of high-impact partnerships in addressing pressing healthcare challenges in Africa. As part of the transaction, AHN received support on completion deliverables related to the transaction from CrossBoundary, an advisory group focused on unlocking private capital in underserved markets.