(MENAFN) Abraaj, the Dubai-based emerging market investment fund, will spend up to a whopping USD500 million in start-up capital for a mid-tier hospital business in Africa, based on recent reports.
The group was well on the way to securing land for a 350-bed multi-specialty hospital in the Nigerian commercial capital Lagos, as well as buying several hospitals in Nairobi to form a health care cluster.
In accordance, even though most African nat5ions have one or two high-end hospitals, governments are suffering to provide adequate health care for the vast majority of their citizens.
Furthermore, Abraaj was looking to attract a similar amount from other investors, meaning that the first four target cities were likely to absorb at least USD1 billion between them in the following five years.
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