Healthcare group Mediclinic in US$139m renewable power deal with Energy Exchange

SOUTH AFRICA – Mediclinic, the Southern Africa division of private hospital group, Mediclinic, says it has entered into an agreement with Energy Exchange to procure renewable electricity, in a deal worth R2.1 billion (US$139 million). The company did not divulge the volume of power to be sourced from Energy Exchange but said the move was part of its ambitious goal of becoming carbon neutral by 2030. Energy Exchange is an aggregator that allows independent power generators in the country to sell renewable energy for use by industrial and commercial entities.…

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Japan to increase its JICA grant to Egypt for the development of Abu al-Rish Japanese Hospital

EGYPT – Egypt and Japan signed an agreement to increase the value of the Japan International Cooperation Agency (JICA) grant to become US$19 million. The agreement aims to construct the new outpatient clinic of the Abu al-Rish Japanese Hospital, which comes within the framework of the distinguished Egyptian-Japanese relations that promote the development of the health sector.  The signing ceremony was attended by Minister of International Cooperation Rania al-Mashat, and Dr. Khaled Abdel Ghaffar, Minister of Higher Education and Scientific Research, who signed the agreement. Ambassador Noki Masaki, the Ambassador…

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Shell Foundation and Odyssey Energy picks five firms to power healthcare facilities in SSA

SUB-SAHARAN AFRICA – The Shell Foundation and Odyssey Energy Solutions’ Powering Health platform have selected five electricity providers for a pilot program to electrify several healthcare facilities in sub-Saharan Africa. The companies will install solar photovoltaic systems in these facilities. The companies were selected based on their experience in implementing solar PV electrification projects, their ability to complete the work within 3 to 10 months of receiving the funds, or their ability to obtain more than 50% of the funds needed to implement the project from other financial partners. The…

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AI company Macro-Eyes secures US$2m funding to expand in two additional countries

SIERRA LEONE – Macro-Eyes, a machine learning company increasing access to care, has received US$2.1 million in funding to expand the deployment of STRIATA in collaboration with the Ministry of Health and Sanitation (MoHS) in Sierra Leone and to expand into two additional countries. This additional funding will support two years of STRIATA deployment in Sierra Leone. Strategic rollout and preliminary use cases are being guided by the MoHS through the Intelligent Health Systems Technical Working Group facilitated by Macro-Eyes. The expansion in Sierra Leone will focus on integrating the…

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Health tech startup launches Trust for investing 5% of future proceeds

AFRICA – 54gene, a health tech startup, is creating a Trust which it will use to invest up to 5% of future proceeds from the company’s commercial drug discovery program. The creation of the trust is part of its Commitment to Africa in establishing a more sustainable and thriving cyclical ecosystem across Africa’s scientific development space, as well as ensuring better quality healthcare delivery for the communities in which the company operates. 54gene is focused on creating a pipeline of novel drugs for global populations, based on insights drawn from…

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Ascendis Health to dispose of its animal health division for US$52.5m

SOUTH AFRICA – Health and wellness company Ascendis Health has said that it had reached a deal to sell its Ascendis Animal Health division for R770.19 million (US$52.5 million) as it ramps up the disposal of non-core assets to reduce its unsustainable debt levels. The South African-based global health and care company concluded the sale of a shares agreement between subsidiary Ascendis Health South Africa Holdings and the purchaser, Acorn Agri & Food, as well as with the guarantor AAF Invest, for the disposal of the entire issued share capital…

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ATI closes US$238m financing agreement for health and transportation projects in Ghana

GHANA – The African Trade Insurance (ATI), a pan-African financial institution providing credit and political risk Insurance Products to support African investments, has announced the closing of two €203 million (US$238.8m) financing agreements social loans, to fund four health and two transportation projects in Ghana. The first transaction, a €55 million (US$64.7m) financing package, relates to the construction of two new Trauma hospitals in Obuasi and Anyinam districts, a new Accident and Emergency center at Enyiresi Hospital and the rehabilitation of Obuasi’s current outdated Health Center. Once completed, the four…

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Medical Credit Fund unveils new financing for health SMEs

KENYA – Medical Credit Fund has made the first disbursement of loans under the second phase of its loan guarantee facility that targets small and medium-sized healthcare companies in Africa. The loan amounting to Sh45.2 million (US$ 417,744) has been given to Sori Lakeside Hospital based in Homabay County in Kenya. According to the company, this new phase of funding is expected to increase investments in African health infrastructure and improve access to quality primary healthcare services. Arjan Poels, Managing Director, Medical Credit Fund said that many health SMEs have…

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Health-tech startup Estshara raises US$500,000 seed funding round to expand its user base

EGYPT – Estshara, a teleconsultations health-tech startup, has announced that it has raised US$500,000 in a Seed funding round led by Egypt Ventures. The Cairo-based healthtech startup plans on employing its newly acquired fund to expand its current user base from two million to six million by the end of the year, as well as further develop its offerings and customer care activities. The funding will allow the startup to grow faster, expand beyond its current offerings and scale up the organization with the fitting team and resources. Estshara also…

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Healthcare platform Vezeeta launches new white label-led solution for healthcare entities

EGYPT – Vezeeta, a digital healthcare platform, has rolled out a B2B SaaS solution that will enable healthcare entities, both small and large, to enhance their patients’ healthcare experiences through a digital-first approach. The new white label-led solution, Vezeeta-in-a-Box, is supported by TEAMFund, a US-based impact VC committed to driving tech transformation and healthcare access in emerging markets. Since launching in Saudi Arabia in April, the new product has integrated with three mega-hospitals and nine polyclinics. It will now be available in other key markets, starting with Egypt, Nigeria, Kenya…

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