This critical investment will help strengthen health systems in sub-Saharan Africa.
We are delighted to announce that the Health Finance Coalition (HFC) has received an ecosystem catalyst grant of CAD $500,000 from Grand Challenges Canada. This critical investment will help strengthen health systems in sub-Saharan Africa. While Africa is home to 16 percent of the global population and 23 percent of the global burden of disease, less than 2% of global impact investment capital goes towards health-related investments on the continent.
“The Health Finance Coalition is incredibly grateful to Grand Challenges Canada for their commitment to scaling locally led solutions that aim to improve access to quality and affordable care and supplies for the most vulnerable populations in sub-Saharan Africa,” said Colleen Connell, Managing Director, Health Finance Coalition. “These funds will work to strengthen Africa’s healthcare ecosystem and bring us toward closing Africa’s healthcare financing gap.” The partnership will enable HFC to support selected African healthcare businesses to strengthen their investment profiles and match this pipeline with the scaling capital they need to grow.
“Grand Challenges Canada is excited to partner with the Health Finance Coalition to mobilize new levels of private capital toward high impact healthcare enterprises,” said Jocelyn Mackie, Co-CEO, Grand Challenges Canada. “Alongside our $5M USD catalytic investment in Transform Health Fund, we believe that this funding has the potential to have a market shaping impact on the early-stage funding landscape in Africa. We look forward to taking on this impactful journey alongside the Health Finance Coalition.”
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About Grand Challenges Canada:
Funded by the Government of Canada and other partners, Grand Challenges Canada funds innovators in low- and middle-income countries and Canada. The bold ideas Grand Challenges Canada supports integrate science and technology, social and business innovation – known as Integrated Innovation®. One of the largest impact-first investors in Canada, Grand Challenges Canada has supported a pipeline of over 1,400 innovations in 96 countries. Grand Challenges Canada estimates that these innovations have the potential to save up to 1.78 million lives and improve up to 64 million lives by 2030.
Learn more: www.grandchallenges.ca
About the Health Finance Coalition:
The Health Finance Coalition (HFC) was launched by a group of leading philanthropies, investors, donors, technical partners convened by WHO Ambassador for Global Strategy and Health Financing Ray Chambers and hosted by Malaria No More. The HFC seeks to attract an unprecedented level of private-sector investment to impact millions of lives and accelerate progress to ensure healthy lives and promote well-being for all, a UN Sustainable Development Goal 3. The coalition uses public and philanthropic funding to encourage private-sector capital investment in transformative healthcare impact. Learn more at: healthfinancecoalition.org
About Malaria No More:
Malaria No More envisions a world where no one dies from a mosquito bite. Fifteen years into our mission, our work has contributed to historic progress toward this goal. Now, we’re mobilizing the political commitment, funding, and innovation required to achieve what would be one of the greatest humanitarian accomplishments – ending malaria within our generation. For more information, visit malarianomore.org.