Medical Credit Fund (MCF) was on March 12th 2014 awarded by OPIC (Overseas Private Investments Corporation) in the category of Access to Finance. This was in recognition of the role they play in providing affordable loans and technical assistance for small and medium-sized healthcare providers in Africa.
The Amsterdam based MCF (to which KMET together with PSK, APHTA, Hygea Foundation and Marie Stopes International are technical assistance partners) was awarded during the first ever impact awards held at the US Chamber Of Commerce In Washington DC and it’s the first ever socially marketed financial service, financing healthcare in African countries.
Speaking at the awards, MCF Managing Director, Monique Dolfing Vogelenzang said, “We are incredibly honored to have been recognized by this award”.
Medical Credit Fund seeks to improve provision of healthcare by targeting small privately owned clinics in business and quality training, clinics learn how to develop their business potential and how to improve the quality of their healthcare services. At the same time, access to capital allows them to purchase modern equipment, hire expert staff, make basic repairs or expand their facilities.
These clinics are targeted because they provide 50% of healthcare services in Africa and are staple for low and middle income populations. MCF is present in other African countries including Tanzania, Nigeria, Uganda and Ghana.
Mr. Odero, Otieno Martin, Head of Business Medical Credit Fund at KMET says KMET has so far recruited 172 private facilities in the quality improvement program and offered them entry loans amounting to 42,950,000 KES and medium loans amounting to 145,345,000 KES towards improvement of health care in those private facilities.