To bridge the financing disparity among players in the healthcare sector, the Medical Credit Fund (MCF) has stepped in with innovative and digital credit funding solutions for Small and Medium-Sized healthcare enterprises.
The move is also to provide healthcare facilities with a quick, easier and more affordable financial assistance to boost their operations. The launch was held at the Alisa Hotel, Accra on September 26, 2023.
With the MCF Digital Loan product, healthcare providers may quickly apply for loans through their mobile phones on a user-friendly digital platform, cutting down on paperwork and processing times.
At competitive interest rates, no traditional collateral is also needed. However, automated repayments are made by deducting funds from incoming transactions in the form of future transactions serving as a guarantee.
“The MCF digital loan product in conjunction with Kowri (the fintech partner) provides healthcare facilities with a quick and efficient way to access much-needed financing”, Joseph Hansen-Addy is Country Manager for the Medical Credit Fund said.
From the available data, MCF in Ghana has already disbursed and continues to disburse term loan to its clients’ base.
These clients include, hospitals and clinics, diagnostic centres, laboratories, medical equipment vendors, pharmaceutical retailers, wholesalers, and any business within the health sector value chain.
The loans have helped to enhance the working capital small and medium health enterprises, provided financing for the purchase of equipment and also for construction of new health facilities or expansion or improvement to existing ones.
On his part as special guest of honour, Dr. Poku Adusei, Director of Legal at the National Communications Authority, was hopeful that the product will boost healthcare financing in Ghana and Africa.
