In 2015, CDC made an investment of $5.25 million into HCG Africa alongside HCG Group.
Our investment supports India’s market leader in oncology to establish centres of excellence in cancer care in Africa and Asia by bringing technology and expertise to tens of thousands of patients.
Cancer is an increasingly large health care burden in sub-Saharan Africa, killing over 500,000 people a year and rising – with expectations that it will quickly outpace malaria and HIV as a cause of death.
Today, cancer patients in Africa face a 70 per cent mortality rate with few, outdated, treatment options. There is also limited availability of advanced chemotherapy drugs. As a result, in East Africa alone, over 2,000 medical tourists leave annually for cancer treatment, typically having been diagnosed with a poor prognosis at a late stage.
HCG has treated hundreds of African patients in India and believes that it can improve outcomes and affordability by providing local treatment.
Our investment allows HCG Africa to focus on providing high-quality out-patient diagnostics, chemotherapy and radiotherapy in several African countries. Through outreach camps the company will give thousands of people the opportunity to be screened for cancer at no cost with the aim of saving lives through early detection.
It will also provide advanced technology not currently available in sub-Saharan Africa (outside South Africa), such as the first cyclotron and PET-CT based diagnostics and treatment planning.
It will be substantially cheaper for a patient to be treated by HCG locally than for them to travel to India for similar quality treatment.
The joint venture’s first operation is a $4.1 million investment in Cancer Care Kenya, a leading Nairobi-based radiotherapy provider.
It is also actively pursuing partnerships across Africa.
Environmental and social aspects
We will work with HCG to establish high standards of environmental and social (E&S) management in its new centres in Africa; in Kenya the focus will be on waste water management and operational health and safety.
We will also help the company identify opportunities for water and energy efficiency improvements.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Equity
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- June 2017
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.