Challenge
In Sub-Saharan Africa, healthcare sectors are largely characterized by high disease burdens, limited access, poor quality, and underinvestment. In this context, where public health funding is inadequate, many families turn to small private healthcare providers where they mostly pay out of pocket. While health SMEs (small and medium enterprises) are the healthcare providers of choice for a majority of the population, SMEs struggle to access working capital to expand and improve their services.
Description
The Medical Credit Fund (MCF) was established in 2009 as part of the PharmAccess Group, which aims to increase access to quality healthcare in Sub-Saharan Africa for low-income patients. MCF is the only fund dedicated to financing health SMEs (small and medium enterprises) in Africa, enabling them to access the capital needed to improve quality of care and grow their businesses. Crucially, MCF offers technical assistance to ensure that healthcare providers are able to repay their loans.
Outcomes
The Medical Credit Fund has reached substantial scale, disbursing US$ 100M in loans to 1,800 African health SMEs, serving millions of patients. About 87% of clinics have improved their quality of care through SafeCare, with a 94% loan repayment rate.
