NORTH AFRICA – The European Bank for Reconstruction and Development, an international financial institution, is set to invest US$25 million in Humania North Africa Holding, a healthcare platform focused on hospitals and clinics in the region. 

EBRD will invest in the US$360 million project alongside IFC (International Finance Cooperation), Asset Management Company (AMC), Proparco, and International Fund for Developing Countries (IFU). 

Humania is a limited liability company incorporated in Dubai International Financial Centre (DIFC), the United Arab Emirated. It is a holding company that focuses mainly on building and operating general hospitals in Egypt and Morocco. It was established by Bait Al Batterjee Medical Company (BAB), a healthcare operator. 

BABA is one of the largest healthcare providers in the Gulf Cooperation Council (GCC) countries operating under the brand name “Saudi German Hospital (“SGH”). BAB operates over 2,500 hospital beds and employs over 12,000 people 

The project is expected to lead to improved quality of services (beyond the current local standards) and seek a reputable internationally recognised certification for each of the hospitals (Joint Commission International).  

The company also plans to establish new degree-level nursing training programmes in order to address skills mismatch and labour shortages in Egypt and Morocco; 

The project will be developed at standards beyond prevailing market norms in the healthcare sector in the region in terms of energy, water and construction material efficiency (as both hospitals will be certified under the EDGE (Excellence in Design for Greater Efficiencies) Green Building Certification. 

There is a lack of adequate equity market in the region and thus the participation of IFIs plays a key role in supporting the project. 

Humania is an investment platform dedicated to healthcare opportunities in the Middle East and North Africa (MENA) and emerging markets. It has 35 years of healthcare experience, as well as improve wellbeing and generate strong returns for investors. 

Humania’s chairman is also founder and principal shareholder of the Bait Al Batterjee Medical Company as well as a number of other companies operating in healthcare sector. The Bait Al Batterjee group employs over 12,000 employees across the Middle East, North Africa and Pakistan.