Accra, Ghana, April 1, 2020 – IFC,
a member of the World Bank Group, today announced a $2.5 million investment
in New Crystal to support the expansion of the private healthcare group,
which provides high-quality medical services to lower-middle-income and
low-income patients and families in and around Ghana’s capital, Accra.
IFC’s loan, its first in Ghana’s healthcare
sector, will help New Crystal upgrade its existing network of six clinics,
add new facilities in Accra’s fast-growing suburbs of Ashaiman and Tema,
and broaden its suite of diagnostic services.
New Crystal provides a range of services,
including general clinical care, antenatal, obstetrics, gynecology, dentistry,
laboratory and x-ray, pharmaceutical, and simple in-patient services. It
aims to increase the number of patients it serves annually from 227,000
to 350,000 as a result of IFC’s support.
Dr. Wisdom Amegbletor, Founder and CEO
of New Crystal, said, “This investment by IFC will help us accelerate
implementation of our vision to increase access to affordable high-quality
healthcare in Ghana. In addition to financing, IFC will also provide us
with advisory services in certain operational areas as we continue to grow
Ronke Ogunsulire, IFC Country Manager
for Ghana, said, “The coronavirus pandemic is highlighting the urgent
need to strengthen health systems to serve all segments of society. The
private sector has an important role to play in providing health services
and IFC is proud to support New Crystal’s innovative and effective healthcare
IFC has an active portfolio of about
$2 billion in healthcare companies in emerging markets, including more
than $165 million in sub-Saharan Africa as of December 2019. Through these
investments, IFC helps private providers meet the soaring demand for healthcare
and supports governments in their goal of reaching universal health coverage.
IFC—a sister organization of the World Bank and member of the World Bank
Group—is the largest global development institution focused on the private
sector in emerging markets. We work with more than 2,000 businesses worldwide,
using our capital, expertise, and influence to create markets and opportunities
where they are needed most. In fiscal year 2019, we delivered more than
$19 billion in long-term financing for companies in developing countries,
leveraging the power of the private sector to end extreme poverty and boost
shared prosperity. For more information, visit www.ifc.org.