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
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...