Medical Credit Fund, the only debt fund fully dedicated to African small and medium-sized health enterprises (SMEs) in Africa, today announced the completion of a EUR 32.5 million fundraise. With the launch of its second fund more healthcare providers can access loans to grow their businesses, purchase medical equipment, improve quality, and prevent medicine stock outs.
The funding round was anchored by the Dutch Ministry of Foreign Affairs, which provided the first equity injection of EUR 7.5 million in January this year, to cater to the demand for loans during the heights of the COVID-19 crisis. Also participating in this funding round are CDC Group, FMO, Swedfund, Philips. In addition, MCF will benefit from a guarantee facility by the U.S. International Development Finance Corporation (DFC), which was initiated by the Health Finance Coalition (HFC) with support of the U.S. President's Malaria Initiative (PMI) and USAID’s Center for Innovation & Impact (CII).