International impact investor Investisseurs & Partenaires (I&P) has said it is looking forward to supporting more small and medium scale enterprises (SMEs) that are vital to Ghana’s long-term economic growth. The firm has invested €3million in a leading private healthcare provider, New Crystal Health Services (NCHS), to make quality healthcare accessible and affordable to many in Ghana.
I&P’s investment, together with a loan of US$2.5million from the International Finance Corporation of the World Bank, will lead to the construction of two new ultra-modern hospitals and a total facelift for three other hospitals, all belonging to NCHS, located within the Tema and Ashaiman enclave.
The impact investor is also bringing its know-how in management and finance, backed by an entrepreneurial approach, to bear on the operations of NCHS to make it more efficient as it takes up equity in the healthcare service provider.
In a statement, the Senior Investment Manager at I&P in Ghana, Mr. Baafour Otu-Boateng, expressed delight at the partnership with NCHS. He said: “Making quality healthcare accessible and affordable is one of the most pressing issues of our time. We are excited to partner with New Crystal, a pioneering healthcare business that is aligned with the impact ethos of I&P”, adding that the firm will continue to identify SMEs that it can support in Ghana.
I&P, with headquarters in France, is an impact investing group dedicated to African SMEs. It manages four Pan African funds and has sponsored 5 African impact funds, which have together invested in more than 90 companies located in 16 African countries. I& P was created in 2002 by Patrice Hoppenot and managed since 2011 by Jean-Michel Severino. The team is made of 50 people working in Paris and seven African offices.
In Ghana, I&P has invested in three other companies: namely Eden Tree, an agribusiness; Voltacars Rental Services; and PEG, a renewable energy company. It also places premium on the environment, favourable working conditions for employees with steady recruitment, as well as corporate governance.
With the capital injection and partnership, NCHS will function as a one-stop-shop for patients requiring general inpatient or outpatient services by offering a comprehensive package of services including prevention, screening, diagnostics and treatment.
The healthcare provider intends to serve middle- and high-income earners in addition to its traditional low-income base. It hopes that by adding essential services such as intensive care, paediatric care and (complex) surgical services, different types of patients may be inclined to make use of NCHS’ health services.