Axa Hospital (IFC-38833)

  • Nigeria
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
Voting Date
Apr 30, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Education and Health
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
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 Nov 28, 2017

Disclosed by Bank Mar 13, 2017

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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.
AXA Mansard Insurance Plc (“AXA Mansard” or the “Sponsor”), is a leading provider of insurance services (including health insurance) in Nigeria and a member of AXA Group, the world’s largest insurance group. The proposed IFC financing is a US$8.2m equity investment for a 20% equity stake, to support the green-field development, construction and operation of a 150 bed hospital and two clinics; one within the mainland and the other in Lagos Island serving as feeders. Africa Capital Alliance (ACA), a Private Equity fund is also considering to invest in the Project for a 40% stake. The hospital will be built on a 20,000 square meter land purchased by AXA Mansard in Ikate Elegushi, Lekki along Lagos/Epe Expressway, Lagos State. The land was a portion of Bela Vista Estate which is classified as commercial land. The clinics will be designed and built on either procured land or from existing buildings which will be demolished. The Sponsor has partnered with Healthshare Health Solutions Ltd (“Healthshare”), a South African hospital operator with international hospital development and management experience to manage and operate the hospital. In addition to Healthshare’s management role, Healthshare’s parent company, EOH Holding Ltd will invest equity for a 5% equity stake in the Company. EOH Holding Ltd is a major South African business and technology solution provider.
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: Kola Oni Company Name: AXA Mansard Insurance Plc Address: Santa Clara Court, Plot 1412, Ahmadu Bello Way, Victoria Island, Lagos. Email: Phone: +234 1 279 3481 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 You can learn more about the CAO and how to file a complaint at

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