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The International Finance Corporation has announced a partnership with Senegalese healthcare supplier Carrefour Medical, part of Cosemad Group.
Under the partnership, IFC is providing the equivalent of €18 million (XOF 12 billion) – the majority in local currency – to help Carrefour Medical expand its distribution capacity for medical equipment and consumables. The funding will also support the completion of Carrefour Medical’s new headquarters, which will house a technical centre for equipment maintenance, a training centre for engineers, and help scale operations of its newly built dialysis kit component production plant.
“IFC’s partnership has gone far beyond providing financing. Their team took the time to understand our current operations and long-term ambitions, helping us refine our expansion plans and identify future market opportunities. It also represents international recognition of the relevance of our vision, the strength of our achievements, and the credibility and solvency of our organisation,” said Saliou Mboup, Carrefour Medical’s founder and CEO. “With IFC’s support and industry expertise, we are building a stronger, more resilient business that can meet Senegal’s and West Africa’s growing healthcare needs.”
“Bolstering private sector investments in healthcare is critical to improve resilience and service delivery. IFC’s partnership with Carrefour Medical will not only help boost local healthcare manufacturing, but also reduce dependence on imports, lower the cost of lifesaving dialysis care, and build local skills and quality jobs,” said Olivier Buyoya, IFC regional director for West Africa. “We are proud to join forces with a local champion in support of Senegal’s efforts towards universal health coverage, in line with the country’s Vision 2050 agenda.”
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