By Doris Obinna
Eha Impact Ventures has announced its collaboration with Stanbic IBTC to de-risk a $300,000 loan to EHA Clinics, a world-class primary healthcare provider in Nigeria.
Stanbic IBTC’s loan will fund EHA Clinics’ expansion to two new locations: Lekki, Lagos, and Lugbe, Abuja. With the loan, the clinics will be fitted with high-quality medical equipment to provide quality care to EHA Clinics’ customers. To facilitate the loan, Eha Impact Ventures, the majority shareholder of EHA Clinics, provided letters of Credit to Stanbic IBTC to secure the loan.
Eha Impact Ventures’ CEO, Evelyn Castle, said, “Improving access to quality healthcare in Nigeria is one of Eha Impact Ventures’ major goals.
“To achieve the Sustainable Development Goals (SDGs), trillions of dollars of investment are needed. Philanthropy and impact investors alone are not going to be enough. Partnerships with progressive banks like Stanbic IBTC to develop and implement these innovative financial solutions will get us closer to closing the SDG funding gap.”
“Their innovative community-based programme, REACH, provides quality, evidence-based care and affordable medication to low-income urban populations. Additionally, they have developed an innovative technology backbone that allows for seamless integration between clinic facilities and their ‘HealthMate’ app, providing customers direct access to EHA Clinics’ services, resources, and support.”
“We are grateful for the partnership between EHA Impact Ventures and Stanbic IBTC, which facilitated this loan opportunity. In addition to the financial support, EHA Clinics is now able to build our credit history with the bank, which will allow for easier loan facilitation in the future,” commented EHA ,Clinics CEO, Adam Thompson.
Head, specialised sectors, Stanbic IBTC Bank, Jane Ike-Okoli, said: “As a growth partner, it is collaborations like these that allow us to demonstrate our support for the healthcare businesses in Nigeria by delivering flexible, innovative solutions through our strategic partnerships while fostering affordable quality healthcare service,” she stated.
Head, Commercial Clients Coverage, Stanbic IBTC Bank, Babatunde Akindele: “Stanbic IBTC is willing to support strategic partnerships such as this to improve healthcare infrastructure and enable qualitative service delivery, which will restore the hope of many Nigerians.”
