Horizons Clinic Gambia Limited secures US$16.8 million financing from Afreximbank

Horizons Clinic Gambia Limited (HCGL) has successfully executed a bespoke US$16.8 million Construction and Medical Tourism Relay Facility Agreement with African Export-Import Bank (Afreximbank). Afreximbank’s extensive structuring and technical experience was brought to bear in the successful closure of the agreement, notwithstanding a very challenging financing environment for medium sized healthcare facilities and the Gambian private sector. This underscores the Bank’s commitment to supporting Africa’s development, especially as it relates to provision of healthcare in its member countries.

This milestone marks a crucial step forward in bringing world-class healthcare services to The Gambia through the establishment of the Horizons Clinic, a 60-bed international standard medical facility to be developed at Kerr Serign in the Kombo district. When completed, the Horizons Clinic will greatly enhance the country’s health system.

This landmark project financing transaction represents the largest private sector commitment to date in The Gambia by Afreximbank and the bank’s first and largest corporate sector commitment in the country. It is also supported by Guangxi International Construction Engineering Corporation (Gambia) Limited (GICEC Gambia) and Bloom Bank (Gambia) Limited.

Renowned Gambian urologist Professor James N’Dow DL is the Founder and Director of Horizons Clinic Gambia Limited. He was also recently named in King Charles III’s New Year Honours List as an OBE. Professor N’Dow says:

“We live on a continent where far too many continue to die from preventable medical causes, and this need not happen. This momentous investment from Afreximbank enables The Gambia to provide world-class healthcare to its residents. We are thrilled that this agreement has now been finalised. If you look at pregnancy and childbirth alone, the country’s maternal mortality and neonatal mortality rates are still far too high. The Horizons Clinic will offer a range of outstanding specialist medical services and save lives. All patients will be treated in our clinic – including those who can afford to pay and less well-off people – because of our social enterprise corporate structure design. Thank you to all our stakeholders for making this dream a reality, including Afreximbank, Horizons Trust Gambia, our legal teams in the UK and The Gambia, GICEC Gambia and Bloom Bank.”

Horizons were fortunate enough to receive legal assistance from Pinsent Masons in the UK. Gillian Frew, one of their Partners, says, “We were delighted to support Horizons Clinic to achieve this milestone as part of our pro bono work. It has been our pleasure to work with Horizons and their team of advisers for over a decade, driven by Professor N’Dow’s commitment, enthusiasm, and purpose to bring his vision closer to reality. The support and collaborative approach from Afrexim and their advisers has been critical to reach this stage and we look forward to continuing our productive relationship.”

Horizons Clinic Gambia Limited Board Chairman, Mr Alpha Barry, adds that “today heralds a new era in healthcare for The Gambia. The establishment of the Horizons Clinic, through the unprecedented support of Afreximbank and other esteemed partners, is a testament to our collective vision of transforming the Gambian health sector. This will not just be a building, it will be a beacon of hope and a promise of quality healthcare for all Gambians, as well as a model for other African countries. As we reflect on the remarkable journey of the Horizons Clinic and its transformative impact on healthcare in The Gambia, it is imperative to salute the extraordinary tenacity of Professor James N’Dow. His unwavering dedication, visionary leadership, and relentless pursuit of excellence have been the driving force behind this monumental project.”

Scroll to top