The African Development Bank (AfDB) has agreed to provide US$10-million equity funding to Razorite Healthcare Africa Fund. The fund is expected to fill in the gap of growing demands for affordable and quality healthcare services in several countries within Sub-Saharan Africa. This investment will help improve healthcare infrastructure delivery in Africa. Razorite Healthcare is an existing company based in South Africa that offers professional primary healthcare services in the upmarket areas of Rosebank, Fourways and Olivedale. The company forms part the RH Bophelo group structure.
RH Bophelo is a healthcare investor that is listed on the Johannesburg Stock Exchange with funds in excess of R500-million. The company invests in hospitals where it can improve facilities and increase access to quality healthcare services to the lower-to-middle income bracket in South Africa. The Razorite Healthcare Africa Fund will be registered in Mauritius and is targeting total committed funding of $100 million by various Limited Partners.
AfDB is an African based development bank with shareholders mainly consisting of 54 African member states and 26 non-African countries. The bank has US$60-billion in callable capital and continues to grow its loan book with total assets in the region of US$33-billion. AfDB will be involved in the new fund as an advisory board member to ensure that the fund portfolio of projects adhere to social, environmental and corporate governance best practices.