GIPC Boss Praises New Crystal’s Capital Injection

Yofi Grant

CHIEF EXECUTIVE of Ghana Investment Promotion Centre (GIPC), Yofi Grant, has said the over US$5.7 million capital injection secured by private healthcare provider, New Crystal Health Services (NCHS), goes to emphasize investors’ confidence in Ghana’s healthcare sector.

He said the confidence followed ongoing support and reforms by government to create a more conducive business environment for local businesses and investments to thrive.

NCHS recently secured US$5.7 million support from international investors to enable it build two new state-of-the-art hospitals and give three of its other facilities a complete facelift.

The financial support consists of a loan of US$2.5 million from the International Finance Corporation (IFC), the private sector arm of the World Bank and equity of €3 million from impact investment group, Investisseurs & Partenaires (I&P), with headquarters in France.

Commenting on this development, Mr. Grant commended the board, management and staff of the company for achieving the feat. He indicated that qualifying for the funding attested that the company met a certain credibility criteria. He explained that the credibility was evidenced by the company being featured four times in the Ghana Club 100 awards organized by the GIPC, and aimed at recognizing the top 100 performing businesses in corporate Ghana. “The club 100 ranking as a key objective promotes good corporate governance and further bestows third-party endorsement to businesses from a recognized and reputable institution,” Mr Grant added.

With the fresh capital injection, NCHS is expected to add new and essential services such as intensive care, paediatric care and (complex) surgical services as well as care for lifestyle diseases to its current offerings. The healthcare provider currently has seven networked hospitals in Ashaiman, Tema and Takoradi, a modern diagnostic centre and other allied healthcare institutions, significantly supporting healthcare delivery in Ghana.

With the African Continental Free Trade Area (AfCFTA), the GIPC boss is hopeful that Ghana is well positioned to become a medical and pharmaceutical hub for the West African sub-region.

A business desk report

 

 

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