The International Finance Corporation (IFC) approved a $4 million loan to International Medical Group (IMG), the Ugandan subsidiary of Ciel Healthcare, a Mauritius-based company that specializes in healthcare center management. The Ugandan hospital will also receive $2.5 million from Proparco, Kibo Capital and Ciel Limited, and other shareholders of its parent company.
The resource will enable IMG to finance a liquidity shortfall that resulted from the covid-19 pandemic. It will be used to refinance existing debt and secure a longer grace period tailored to current cash requirements. It is not certain that Ciel Healthcare will seek this type of financial support for the other hospitals on its platform.
In addition to the International Medical Group, Ciel Healthcare has also invested in C-Care in Mauritius and Hygeia in Nigeria. The company takes majority stakes in its investments and strives to help them achieve standards that meet the highest international standards. The platform's objective is to build an integrated network of healthcare providers in the markets where it operates.
Idriss Linge
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Cameroon’s exports of household bar soap rose sharply in 2025, reaching 74,208 tons, up from 56,624 tons in 2024, according to the latest foreign trade...
Burkina Faso targets 6.1% growth in 2027 under plan Revenues and spending rising; deficit projected near 2.8% GDP Outlook supported by gold,...
IMF approves $266M RSF financing for Liberia climate resilience Additional $26M disbursed under ECF, total...
Axian Telecom partners with Oracle to unify management systems Platform to enable AI rollout, improve governance and...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...