Haltons (IFC-38693)

  • Kenya
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
Bank Risk Rating
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.
The holder of the loan, grant, or other investment.
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.00 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)
$ 10.00 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 Jun 22, 2017

Disclosed by Bank Oct 21, 2016

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Project Description
Haltons Limited ("Haltons") is a retail pharmacy chain dispensing prescription and non-prescription pharmaceutical products operating in Kenya. The company has retail outlets located mostly in high traffic residential estates capitalizing on volumes created by health care medicine prescribers to the middle-income consumer. Most of the stores offer a wide range of products as well as health checks such as blood pressure, blood sugar, Blood cholesterol levels and advice on management of blood pressure, gout and diabetes. Haltons is currently operating 52 shops and is looking at rolling-out additional pharmacy outlets, targeted at the underserved middle to low income market, and build a central warehouse and distribution center (the 'Project').In just under 5 years, Haltons has grown exponentially from 2 to 52 outlets in Kenya, on the back of financial and operational support from Fanisi Venture Capital Fund ('Fanisi'), an IFC investee fund and its promoters - Paradigm Holdings, which represents the interests of founder Dr Louis Machogu and Mary Ngige. The total Project cost is estimated to be $10.0m. IFC has proposed a C-Loan of up to $3 million in Haltons, to make up most of the project shortfall.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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