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Credit Bank and Medical Credit Fund partner to increase access to finance for Kenyan health sector

On 20 November 2017, Credit Bank and the Medical Credit Fund have announced a partnership that aims to increase access to better healthcare services in Kenya. The partnership benefits private healthcare institutions and accommodates access to technical assistance and affordable financial support with the aim of improving the quality of healthcare.

  • Nov 21, 2017

In complementing the public health system across Africa, the private healthcare sector faces many challenges such as limited capacity and quality of care. For small and growing medical enterprises, it is challenging to access loans to invest and expand their healthcare facilities and services due to the specialized nature of their businesses.

Speaking after signing the agreement, Mrs. Betty Korir, CEO of Credit Bank said that too many people in Kenya are unable to access good quality healthcare, which is why Credit Bank has seen the need to partner with Medical Credit Fund to extend affordable financing and support to healthcare providers in implementing higher quality standards

Medical Credit Fund has the expertise and experience required to identify suitable healthcare providers to access loan solutions. It will also coordinate extensive technical assistance to help these providers fulfill their business potential and improve their services so that more people in Kenya gain access to quality healthcare.

“Our interest is in having the local community access quality and affordable care in line with the Kenyan Government objectives of offering universal healthcare’ noted Medical Credit Fund CEO, Mr Arjan Poels ‘We have developed a financing and a quality improvement program for healthcare providers and Credit Bank has partnered with us to provide financial support while our technical experts will walk hand in hand with the medical practitioners to render the necessary technical assistance.’

The lack of adequate healthcare facilities poses a significant impediment to the development of human capital across Africa; this partnership will make great impact to the undeserved population in Sub Saharan Africa and accelerate the growth of medical facilities in the country.