The impact investing market is about $1.2 trillion, but less than 2% of that total goes to health-related investments in Africa — and most goes to supporting businesses aimed at middle-income or wealthier clients largely focused in urban areas.
Closing funding gaps will likely require solutions that blend commercial and concessional capital, Colleen Connell, managing director of the Health Finance Coalition, said at a Devex event in Geneva last week.
Enter the Transform Health Fund, which is designed to address current market gaps and finance the scaling of locally led health supply chain, digital, and care delivery solutions on the continent. Announced last year at the U.S.-Africa summit in Washington, the blended finance fund has now raised $50 million and is officially open for business. The goal is to eventually reach $100 million.