Finding New Ways to Lend More to Health SMEs in Africa
“It’s one thing to offer universal healthcare to your citizens. But the next question is ‘okay, where can I go,’” said Bart Schaap, Chief Financial Officer at Medical Credit Fund (MCF). The region suffers from a dearth of healthcare facilities, especially ones that provide quality care. For Schaap, the solution is obvious: “If you want to address the great need in Africa for increased capacity—for doctors, beds, facilities—and greater quality in healthcare, you need to provide businesses with funding opportunities and operational advice. You need to look at the supply side.”
With a mission so closely aligned to its own, IFC in 2016, jointly with the World Bank’s Global SME Finance Facility, decided to support MCF by approving a $4.5 million loan. IFC has featured the venture in its news blog.