Abraaj teams with Swedfund to make $6.5m Nairobi Women’s Hospital investment


africa-hospital-nairobi_sqEmerging markets investor The Abraaj Group has teamed up with Swedish state venture capital company Swedfund to make a $6.5m investment in The Nairobi Women’s Hospital.

Abraaj invested through its Africa Health Fund, which previously backed the East Africa-focused business in 2010.

Africa Health Fund says its objective is to increase access to and affordability of health-related goods and services for Africans, especially those at the bottom of the income pyramid.

Swedfund’s mandate is to support private enterprise in developing countries, mainly by making equity investments and loans to companies that have a profitable track record but need capital and support in order to grow.

Its portfolio includes holdings in around 70 companies around the world.

Last year London-based emerging markets investor Aureos Capital, which is owned by Abraaj, made a $1.7m investment in Clinique Biasa, a private hospital and clinic in Togo, West Africa.

The funding was intended to enable Clinique Biasa to complete the financing of its modernisation and expansion plan, which will cost around $5m.

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