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.
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
Our approach
The Medical Credit Fund helps private healthcare businesses to access loans.
We combine this with support and guidance to help you develop your growth strategy and identify the most effective areas of investment.
Loans
Medical Credit Fund works with healthcare businesses to help them qualify for a loan by decreasing invetment risks.
We employ a policy of incremental lending. Less experiences health facilities can initially access smaller loans, reducing the risk of overstretching, and increasing chances to build a positive repayment track record.
Technical Assistance
Medical Credit Fund organizes Technical Assistance and Training programs in partnership with PharmAccess, local healthcare organizations and knowledge institutes. The programs’ focus is on business and quality improvement.
Our advisors work with health SMEs to help them analyze their finances, define investment needs, find management and operational efficiencies, assess the market to identify growth opportunities and formulate a convincing business plan.
Using the SafeCare quality standards, we also assess a health SME’s quality and advise on how to improve the quality of care.
MCF Digital Loans
Fast and transparent mobile loans for health SMEs
Digital payments and financial services around the world, specifically in Africa, are developing at an extremely high pace. This widespread mobile and digital adoption in Africa brings new opportunities in healthcare financing and delivery.
MCF launched its first digital loans product in 2017 in Kenya, and has since then also been introduced in Ghana and Tanzania. Based on mobile revenues, the product requires no collateral, allows for a flexible repayment based on actual revenues, and can be deployed quickly to finance working capital and small equipment purchases. It is especially suited to small healthcare companies who have limited collateral such as those ran by women entrepreneurs.