The Health Finance Coalition today announced the close of the first $50 million for the pan-African Transform Health Fund (THF) managed by AfricInvest. With the first close, the THF will begin investing in innovative models to improve access, affordability, resilience, and quality of healthcare in Africa.
The Fund is a joint venture between Health Finance Coalition and AfricInvest, bringing together commercial, public, and private donor investments from Royal Philips, Merck & Co., Inc., known as MSD outside of the United States and Canada, the U.S. International Development Finance Corporation (DFC), the International Finance Corporation (IFC), Swedfund, 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.
The THF was publicly highlighted in December 2022 at the U.S.-Africa Leaders Summit in Washington, D.C., hosted by President Biden. THF is an innovative blended-finance fund that will invest in locally-led health supply chains, care delivery, and digital solutions in Africa. Under the management of AfricInvest, a leading pan-African investment platform active across private equity, venture capital and private debt, along with the Health Finance Coalition, a group of leading global health funders hosted by Malaria No More, the THF will finance enterprises that improve health system resilience and preparedness across the continent.
The THF will provide debt and mezzanine financing to scale high-impact health enterprises serving vulnerable communities while offering risk-adjusted returns to investors. The Fund is expected to bolster healthcare systems in Africa, which face severe financing and capacity gaps – challenges made more difficult by COVID-19 and climate change – while working to achieve the Sustainable Development Goals and Universal Health Coverage.
