Mali

Cordaid Investment Management supports Malian health sector

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In the midst of the Covid-19 pandemic, the Malian health sector will expand with the opening of a polyclinic. Cordaid Investment Management’s flexible financing ensures that medical equipment is available.

Cordaid Investment Management (CIM), is delighted to add Polyclinique Les Orangers to its portfolio of Small and Medium Enterprise (SME) investments in Mali. It is a brand new, state of the art, 49-bed health clinic situated on the outskirts of the capital city Bamako.

When Polyclinique Les Orangers opens its doors in early 2021, it will serve 120 patients every day, offering a range of services. These include diagnostics and imaging, emergency care, surgery, and internal medicine, amongst others. CIM's flexible financing will ensure that medical equipment of the highest standard is available.

Reversing a downward healthcare trend

The Malian healthcare system has undergone profound changes since the mid-1980s as a result of key legislation and privatization. Despite this, existing healthcare providers are not able to meet current demand. Lack of investment undermines the development of the sector in Mali. As does the prevalence of 'health tourism', with a lot of middle-class Malians traveling to countries such as Tunisia and France for medical care.

Motivated to reverse this trend, Malian entrepreneur Amadou Sow has devoted the past 8 years to realising his vision for Polyclinique Les Orangers.

"We have been impressed by the professionalism of the team and the commitment to delivering health services of the highest quality. CIM firmly believes that the success of Polyclinique Les Orangers will lead to more investment to the sector," says Brenda Pennell, Senior Investment Manager CIM. "As a social investor, the commitment of the promoter and his Tunisian management partner in prioritising jobs and training for Malian staff was a key factor in CIM's decision to invest. The clinic will also extend its services to the underserved local community," she continues.

Connecting entrepreneurs to financiers

CIM's investment in Polyclinique Les Orangers would not have been possible without the support of CrossBoundary, provided through the USAID-funded Mali Investment Facilitation Platform (MIFP). The MIFP team supported Amadou Sow with business plan development and connecting the entrepreneur to international and local financiers. CIM is additionally grateful to Cross Boundary for continuing to provide Polyclinique Les Orangers with ongoing pro-bono support to facilitate the final close of the transaction after the end of MIFP in early 2019.

Amadou Sow, Promoter of the Polyclinique Les Orangers: "Thanks to CIM and CrossBoundary for giving everything to ensure the successful execution of this project. They have been extremely open and attentive. Much needs to be done in our country when it comes to healthcare, and such an investment will relieve the State, the population, and the health professionals."

Mali merits more international investment attention

For Amadou Sow, meeting CrossBoundary opened the door to CIM. "And this," he says, "allowed us to acquire the equipment needed for the polyclinic that will service the population of Mali and the sub-region."

Marcos Sampablo, Principal at CrossBoundary, hails the new health clinic as it will provide high-quality and affordable care. "We are grateful for the support of USAID. It allowed us to provide a depth of investment advisory services that would not otherwise have been commercially feasible," he says. "CrossBoundary believes that Mali is a high potential market with strong entrepreneurs who merit more international investment attention, and greatly appreciates the pioneering efforts of Cordaid in this regard."

The CrossBoundary Group's mission is to unlock capital to make a strong return and a lasting difference in underserved markets. It has over 80 professional staff and offices in Ghana, Kenya, Mali, Nigeria, Senegal, South Africa, Thailand, Tunisia, UAE, UK, and the US. CrossBoundary Advisory provides a range of due diligence and transaction services. It has advised on over US$750 million of closed transactions, across a range of sectors in Sub-Saharan Africa and in frontier markets globally.

Read more about Cordaid Investment Management.