Project Hippo (IFC-38280)

Countries
  • Kenya
Geographic location 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
HOSPITAL HOLDINGS INVESTMENT BV
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 27.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 107.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 13, 2018

Disclosed by Bank Feb 23, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Project involves an IFC equity investment of up to US$22.0 million and debt investment of up to US$5 million in a newly established special purpose vehicle, Hospital Holdings Investment B.V (“HHI” or the “Company”), set up by an IFC investee fund, Investment Fund for Health in Africa II (“IFHA-II”), to finance the acquisition and integration of targeted healthcare services businesses in Sub-Sahara Africa (SSA). This is part of a US$107 million fund raising round being lead jointly by IFC and IFHA-II into the Company. The Company currently has one subsidiary, NGH Investment B.V, which in turn has a subsidiary, Kiambu Road Investment Limited. Kiambu Road Investment Limited has acquired 3 acres of commercial land along Kiambu Road, in Nairobi Kenya, for the construction of a greenfield hospital.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Person: Menka Shah

Company Name:  Hospital Holdings Investment B.V

Address:  The Oval, 4th Floor, Ring Road Parklands, Nairobi, 

Email:  m.shah@ifhafund.com

Phone: +254 734 913 572

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/

How it works

How it works