PharmAccess mobilizes public and private resources for the benefit of doctors and patients through clinical standards and quality improvements, loans for healthcare providers, health insurance, mHealth innovations and operational research.
PharmAccess mobilizes public and private resources for the benefit of doctors and patients through clinical standards and quality improvements, loans for healthcare providers, health insurance, mHealth innovations and operational research.
Providing loans to healthcare businesses in Africa
Across sub-Saharan Africa, 50% of healthcare is provided by the private sector. As populations continue to rise, the demand for affordable, quality healthcare has never been greater. The Medical Credit Fund is the only fund dedicated to financing small and medium-sized healthcare businesses in Africa.
Increasing access to better healthcare
Established in 2009 as part of the PharmAccess Group, our vision is simple: to increase access to better healthcare services in sub-Saharan Africa for low-income patients.
In complementing the public health system across Africa, the private healthcare sector faces many challenges. Predominately, limited capacity and quality of care. Most small and medium enterprises (SMEs) in the healthcare sector have limited or no access to capital. By reducing the perceived sisks of investing in this sector, we make financing available for medical businesses that find it difficult to secure formal bank loans. The funds are then invested in facilities, equipment, staff and procedures that deliver enhanced care to all patients.
MCF offers loans varying from EUR 100 to a maximum loan size of EUR 3M. It has already provided more than EUR 165 million in loans to over 2,100 healthcare businesses.
Financial and technical assistance
Most African medical professionals in the private sector have limited or no access to capital. By reducing the perceived risks of investing in this sector, we make financing available for medical businesses that find it difficult to secure formal bank loans. The funds are then invested in facilities, equipment, staff and procedures that deliver enhanced care to all patients.
Medical Credit Fund has developed partnerships and integrated loan products with a range of financial partners across Tanzania, Kenya, Ghana, Nigeria and Uganda.
When the facility is running efficiently you get more clients coming in…
“Thanks to the loan we were now able to set up proper cubicles for the cashier and for the pharmacy. It has been so beneficial. I was not able to keep an inventory. Now I’ve got a computer, I get my records and I’ve bought software. Now I’m always able to have an inventory. The level of drugs is now always what it has to be.
This has brought great improvement to clients and it has elevated my income because I’m selling more drugs. And when the facility is running efficiently you get more clients coming in.”
– Druscilla Annan-Nunoo, Director, Adam Family Maternity Clinic
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