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Swedfund Invests in Nigeria, Madagascar to boost Health Sectors during Covid-19 Pandemic

The Swedish financial institution Swedfund announced a total investment of SEK2.2 million (US$0. 2m) in three healthcare facilities in Africa and Southern Asia.

The company is investing in Nigeria-based Express Pharma, which is a chain of pharmacies delivering safe medicines across Lagos in Nigeria together with Dr Express diagnostic services.

While Malagasy Opham, which provides pharmaceutical products to hospitals and pharmacies in Madagascar, will also benefit from the support in Africa.

The loan conditions have not been disclosed. The support includes personal protective equipment, medicines, and transports.

“To prevent the spread of coronavirus and to support the emergency preparedness in our investments we monitor continuously how Swedfund can assist our investment during the pandemic,” Johanna Raynal, Director of ESG & Impact of Swedfund, said.

“The focus is increased health and safety for healthcare workers, to keep potentially infected patients separate from other patients and to prevent the spread of the Corona virus.”

Swedfund’s investment will primarily be used to acquire drugs and other protective equipment, official report noted.

Around 400 million people have no access to basic health care in developing world. The health sector in this region is attracting more investments due to the global health crisis, which requires healthcare facilities to improve their equipment and put in place effective response measures.

 

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