Saudi-born Humania is continuing its projects in Morocco and North Africa. The group, which specializes in private health care in the MENA region, has just raised over $ 100 million from the IFC (International Finance Corporation), Proparco (Agence Française de Développement) and the Fonds d ‘ Danish investment for developing countries (IFU).
Clearly, these three institutions have invested $ 108.5 million in capital in Humania North Africa to help it develop its projects in Morocco and Egypt. The objective of this investment is to improve health care in these two countries, we learned. In particular, it will allow Humania, part of the Saudi group Bait Al Batterjee (BAB), to develop a network of high quality tertiary hospitals in Egypt and Morocco. “Our partnership with IFC, IFU and Proparco will help us make significant investments at a time when demand for quality health care is increasing,” said Sobhi Abdul Jalil Batterjee, President of Humania & BAB . “It will allow us to provide affordable, quality health care, including specialized services, while Egypt and Morocco are facing COVID-19,” he continues.
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In detail, Humania plans, initially, to build a new hospital in Alexandria and a clinic to complement the Saudi German Hospital in Cairo, Egypt. The project also includes a new high-quality multi-specialty hospital in the new ecological city of Zenata, in Morocco. Note that together, the two hospitals will have nearly 600 hospital beds and 240 outpatient clinics. It should also be stressed that, according to the available data, the health sector in Egypt needs $ 60 billion in investments by 2050 to meet the growing demand for medical services, while Morocco, for its part, needs to improve the delivery of health care, especially for women and children.
“We are very pleased to continue supporting Humania, our long-standing partner and client in the healthcare sector. This project is a good example of how the private sector can be used to widen access to medical care, strengthen human capital, improve social inclusion and stimulate innovation in the health systems of Egypt and Morocco, ”says Sergio Pimenta, vice-president IFC for the Middle East and Africa. For its part, Proparco also ensures that this project will contribute to the development of the health sector in North Africa.
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“We have full confidence in the experience of Humania North Africa in helping to bridge the region’s structural health care gap and providing quality services to improve the quality of life for the population,” said Khimdjee. Djalal, Deputy Managing Director of Proparco. As a reminder, this project is part of IFC’s efforts to strengthen the role of private medical providers in the MENA region,
where public hospitals are struggling to keep up with the growing demand for medical services.
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