Back to the complete issue
Wednesday, 25 September 2019

OPIC commits USD 10mn to LimeVest

INVESTMENT WATCH- OPIC commits USD 10 mn to LimeVest: The Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, has committed USD 10 mn to Sharif El Akhdar’s LimeVest, which will deploy the funds in healthcare investments that have a special focus on women and children, it said in a statement (pdf).

It’s the first publicly announced fundraising for LimeVest, which focuses on providing long-term capital and expertise to middle-market and lower-middle market businesses in Egypt. OPIC financing will allow LimeVest to invest in healthcare businesses to enhance their competitiveness, create jobs, promote the role of women in the workplace, and ultimately expand access to basic healthcare services, the statement said.

Underserved healthcare market needs value-added investing, LimeVest says: LimeVest views Egypt’s healthcare system as underserved, with low spending and inefficiency creating a gap in the market that can be filled by value-added investing. Total spending on healthcare in Egypt rang in at USD 7.5 bn in 2017, making up less than 4% of GDP, and the number of hospital beds stood at just 1.3 per 1000 citizens.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.