Johannesburg, South Africa, December 9, 2021: The World Bank’s International Finance Corporation (IFC), a leading development finance institution, will become RH Bophelo’s strategic partner. The partnership will support RH Bophelo in attracting new investors to fund its healthcare expansion plans.
The IFC today announced a partnership with RH Bophelo, a South African healthcare investment holding company that invests in the healthcare sector with a focus on low- and middle-income earners in South Africa. The partnership will support RH Bophelo in attracting new investors to support its mission and expansion.
RH Bophelo’s expansion plans include raising $56 million, which will be used to acquire additional healthcare facilities in South Africa and other countries in sub-Saharan Africa, as well as expand its healthcare tech offering.
Acquiring additional investment capital will support the Company to expand its reach and ultimately provide more hospital beds for its patients.
RH Bophelo currently owns a network of eight (8) hospitals and through its wholly-owned hospital consulting, commissioning and management subsidiary, manages an additional fourteen (14) facilities for third parties across South Africa’s eight provinces. RH Bophelo also has investments in pharmacies, as well as emergency services, and healthcare related insurance products, all targeted toward the underserved low- to middle-income market in South Africa.
“We have created an alternative investment opportunity by creating an integrated and diversified healthcare platform,” said Quinton Zunga, RH Bophelo’s Chief Executive Officer.
“Access to quality healthcare is more vital now than ever before. Strong healthcare systems are critical to economic growth and development,” said Adamou Labara, IFC’s Country Manager for South Africa.
“The IFC partnering with RH Bophelo, will be a catalyst for accelerating the pace at which we invest and allow us to deepen our presence in the South African and African markets,” said Colin Clarke, Chief Investment Officer, RH Bophelo.
“IFC’s partnership with RH Bophelo is an opportunity to support the Company to diversify its shareholder base, to help the Company meet its expansion goals and add additional capacity to South Africa’s healthcare system,” said Dion Mhlaba, RH Bophelo’s Chief Financial Officer.
About RH Bophelo
RH Bophelo Limited listed on the Johannesburg Stock Exchange (JSE) in July 2017. The listing opened doors for the public to acquire shares in a fully black-owned and entirely African investment company that offers growth and immediate returns in a defensive asset class.
The directors and the management team have significant experience in the healthcare sector and are well-positioned in the market to implement the Company’s strategy and vision.
The Company’s strategy is to identify strategic investment opportunities in the healthcare industry while creating an ecosystem designed to optimise synergies that deliver value to South Africans in the lower to middle-income brackets.
RH Bophelo has made nine (9) acquisitions since its inception in 2017, giving the Company access to 665 beds, eight (8) hospitals in four provinces, a nursing college, emergency services, pharmacy, complete facilities management, hospital management, healthcare insurance and emergency administration services.
RH Bophelo is determined to continue targeting businesses or companies strategically aligned to its value system.
About the IFC
IFC, a member of the World Bank Group, advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries.
We achieve this by creating new markets, mobilizing other investors, and sharing expertise. In doing so, we create jobs and raise living standards, especially for the poor and vulnerable. Our work supports the World Bank Group’s twin goals of ending extreme poverty and boosting shared prosperity.
Any forward-looking statememts in this announcment have not been reviewed nor reported on by the Company’s Auditors.
For and on behalf of the Board.
Company Secretary: Corporate Vision Consulting Proprietary Limited
JSE Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited
Rwanda sponsor: Faida Securities Rwanda Limited