The Health Finance Coalition (HFC), powered by Malaria No More, and AfricInvest pledged commitments of $50 million for the pan-African Transform Health Fund. This money will be used to scale up successful, cutting-edge models that increase healthcare access, affordability, resilience, and quality in Africa.
The declaration was made during President Biden’s U.S.-Africa Leaders Summit in Washington, D.C.
The Transform Health Fund is a cutting-edge blended-finance organization that supports locally driven health care delivery, supply chains, and digital solutions in Africa.
The Transform Health Fund will offer risk-adjusted returns while providing debt and mezzanine financing to build high-impact health entrepreneurs serving under-served areas.
The Fund is therefore anticipated to support strengthening African healthcare systems, which face a massive financing gap – a challenge made more difficult by COVID-19 – by working to achieve Universal Health Coverage (UHC).