Press Releases
PRESS RELEASE
eha Impact Ventures announced its collaboration with Stanbic IBTC to de-risk a $300,000 loan to EHA Clinics, a world-class primary healthcare provider in Nigeria.
Stanbic IBTC’s loan will fund EHA Clinics’ expansion to two new locations: Lekki, Lagos, and Lugbe, Abuja. With the loan, the clinics will be outfitted with high-quality medical equipment to provide quality care to EHA Clinics’ customers. To facilitate the loan, eha Impact Ventures, the majority shareholder of EHA Clinics, provided Letters of Credit to Stanbic IBTC to secure the loan.
“Improving access to quality healthcare in Nigeria is one of eha Impact Ventures’ major goals,” said Evelyn Castle, eha Impact Ventures CEO. “To achieve the Sustainable Development Goals (SDGs), trillions of dollars of investment are needed. Philanthropy and impact investors alone are not going to be enough. Partnerships with progressive banks like Stanbic IBTC to develop and implement these innovative financial solutions will get us closer to closing the SDG funding gap.”
Unlike many healthcare companies in Nigeria, EHA Clinics is focused on providing affordable care packages to people at all levels of the economy. Their innovative community-based program, REACH, provides quality, evidence-based care and affordable medication to low-income urban populations. Additionally, they have developed an innovative technology backbone that allows for seamless integration between clinic facilities and their “HealthMate” app, providing customers direct access to EHA Clinics’ services, resources, and support.
The new facilities in Abuja and Lagos are estimated to provide quality care to an additional 60,000 people annually. “We are grateful for the partnership between EHA Impact Ventures and Stanbic IBTC, which facilitated this loan opportunity. In addition to the financial support, EHA Clinics is now able to build our credit history with the bank, which will allow for easier loan facilitation in the future,” commented Adam Thompson, EHA Clinics CEO.
Speaking on the strategic partnership with eha Impact Ventures, Jane Ike-Okoli, Head Specialized Sectors, Stanbic IBTC Bank, noted that, “the bank’s support is in line with our commitment to drive positive change and improve access to healthcare finance.”
‘’As a growth partner, it is collaborations like these that allow us to demonstrate our support for the healthcare businesses in Nigeria by delivering flexible, innovative solutions through our strategic partnerships while fostering affordable quality healthcare service,” she stated.
Babatunde Akindele, Head, Commercial Clients Coverage, Stanbic IBTC Bank, also stated that “healthcare is a basic need that everyone should access easily.”
“Stanbic IBTC is willing to support strategic partnerships such as this to improve healthcare infrastructure and enable qualitative service delivery, which will restore the hope of many Nigerians,” he said.
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible and innovative financing paired with high-quality, local, shared business resources to ensure business growth and success. Learn more – eha.ventures
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn.castle@eha.ventures
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PRESS RELEASE
eha Impact Ventures (EIV) invests $25,000 in Ananya Health via a Simple Agreement for Future Equity (SAFE) instrument to build its portable cryoablation device.
The device provides primary care clinics with affordable cervical cancer prevention treatments to women in low and middle-income countries. The device freezes abnormal cells before they evolve into cervical cancer and does not rely on consumable cryogen gas, making the procedure ten times cheaper than traditional cryotherapy costs.
Evelyn Castle, CEO and Co-Founder of eha Impact Ventures noted that “each year, over 300,000 women die from cancer globally, despite 99.7% of the disease being preventable. We are using this opportunity to support solutions that reduce this death percentile and save women’s lives.” Evelyn mentioned that the investment aligns with EIV’s goals of supporting high-impact women-owned businesses and contributing to women’s overall well-being.
Expressing her appreciation for the investment, Anu Parvatiyar, the CEO of Ananya Health, stated, “We are excited to have eha Impact Ventures supporting our technology to reduce the number of women affected by cervical cancer worldwide, and particularly in high-burden emerging markets. With this investment, Ananya Health will strive to impact the lives of more women in more places.”
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible and innovative financing paired with high-quality, local, shared business resources to ensure business growth and success. Learn more – eha.ventures
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn.castle@eha.ventures
PRESS RELEASE
eha Impact Ventures (EIV) announces its participation in LifeBank’s $100,000 raise led by CcHUB Syndicate, an investment vehicle empowering investors worldwide to co-invest in the most innovative companies across Sub-Saharan Africa. LifeBank is a healthcare technology and logistics company in Lagos, Nigeria which facilitates the delivery of blood, oxygen, and medical consumables to hospitals and patients. EIV’s $10,000 convertible note investment supports LifeBank in digitizing the supply chain for Africa’s healthcare facilities by enabling efficient, secure, and speedy supply to end users.
Evelyn Castle, CEO and Co-Founder of eha Impact Ventures, said, “investing in LifeBank demonstrates the important role of cross-sector collaboration. It is also our way of fulfilling the Sustainable Development Goals’ promise to leave no one behind. With our support, LifeBank will continue to efficiently deliver medical supplies to healthcare facilities, thereby improving the quality of care for Africans.”
Since its inception in 2016, LifeBank has aimed for a secure supply chain for African hospitals. It uses a seamless technology and innovation system to deliver prompt blood, oxygen, and medical consumables to hospitals. The company currently operates in Nigeria, Kenya, and Ethiopia.
About eha Impact Ventures
eha Impact Ventures (EIV) is a philanthropic impact investing enterprise that supports early-stage, high-impact, women-led businesses in Africa. Unlike traditional business financing, EIV offers flexible and innovative financing paired with high-quality, local, shared business resources to ensure business growth and success. Learn more – eha.ventures
Media Contact: Sumayyah Ibrahim | Email: sumayyah.ibrahim@eha.ventures
Investor Contact: Evelyn Castle | Email: evelyn.castle@eha.ventures