Region and country of operations: Africa
Jurisdiction of registration: Egypt, Morocco
Business sector: Healthcare
Date of agreement (month/year): 12/2019
Finnfund’s financing: USD 18,750,000
Share of Finnfund’s financing: max 5.2%
Size of project/financing: USD 360,000,000
Environmental and social category: B+
Humania is an established special purpose vehicle to finance the development of high-quality multispecialty hospitals and healthcare assets in North Africa and Pakistan. Humania will be established by Bait Al Batterjee Medical Co and will initially focus on four projects in Egypt and Morocco. All assets will be operated under the Saudi German Hospital banner.
Main development impact
The investment will positively impact the provision of quality healthcare in Egypt and Morocco, demonstrate international standards of management and clinical care, and provide attractive employment opportunities to local health sector staff, many of who might otherwise leave the country. The investment can potentially have wider impact on the private health care sector through introducing and expanding a business model where doctors are employed, and not paid through revenue shares.