Transform Health fund announced at U.S.-Africa Leaders Summit

The Health Finance Coalition has pledged $50 million for the pan-African Transform Health Fund, to finance the scaling of proven, innovative models that improve healthcare in Africa. [iStockphoto]

The Health Finance Coalition (HFC), powered by Malaria No More, and AfricInvest today announced pledged commitments of $50 million for the pan-African Transform Health Fund, to finance the scaling of proven, innovative models that improve access, affordability, resilience, and quality of healthcare in Africa. U.S. International Development Finance Corporation (DFC), U.S. Agency for International Development (USAID), Royal Philips, Merck & Co., Inc., known as MSD outside of the United States and Canada, FSD Africa Investments, Netri Foundation, Anesvad Foundation, Grand Challenges Canada (with funding from Global Affairs Canada), Chemonics International, and MCJ Amelior Foundation have all announced their commitments, subject to final due diligence before closing. IFC is in the advanced stage of approving its investment in the fund.

The announcement was made as part of the U.S.-Africa Leaders Summit in Washington, D.C. hosted by President Biden. The Transform Health Fund is an innovative blended-finance fund focused on locally-led health supply chain, care delivery, and digital solutions in Africa.