Hygeia 2014 (IFC-36007)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 30, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Hygeia Nigeria Limited
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 12.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 65.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 22, 2017

Disclosed by Bank Sep 14, 2015


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
This project finances the upgrading of existing hospitals and the expansion of operations of Hygeia Nigeria Limited, Nigeria’s leading and largest integrated healthcare provider, to increase access to good quality and affordable healthcare services in Nigeria.
Investment Description
  • International Finance Corporation (IFC)
The project company is Hygeia Nigeria Ltd. (Hygeia), a private company incorporated in Nigeria. Hygeia is primarily owned by Satya Capital (63.4%), an Africa-focused fund. The other significant shareholders are the Investment Fund For Health in Africa (17.4%), an Africa-focused health sector fund supported by the IFC and the Elebute family (14.8%), the founders of Hygeia. Hygeia is Nigeria’s leading and largest integrated healthcare provider offering both hospital and health management services.
Contact Information
Lanre Tunji-Sanusi +234 1 631 3803 mailto:lsanusi@hygeiagroup.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/