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| Nakasero |
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| Summary of Proposed Investment |
| This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. |
| Project number | 28047 |
| Company name | Nakasero Hospital |
| Country |
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| Sector | Hospitals and Clinics |
| Environmental category | B |
| Department | Reg Manufact, Agri & Services, CAF/CLA |
| Status | Pending Disbursement |
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| Date SPI disclosed | March 18, 2010 |
| Projected board date | April 19, 2010 |
| Previous Events | Signed: June 22, 2010
Approved: June 18, 2010 |
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| View Environmental & Social Review Summary (ESRS), click here |
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| Overview |
Sponsor/Cost/Location |
Development Impact |
Contacts |
Attachments |
| Project description |
| Completion of the construction and operation of Nakasero Hospital Limited (“Nakasero” or the “Hospital or “NHL”), a Greenfield hospital of offering out-patient, inpatient, diagnostic and radiology services in Kampala, Uganda (the “Project”). NHL, which commenced operations in 2009, currently has a capacity of 30-beds expected to grow to up 90-beds over the next two years. |
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| Project sponsor and major shareholders of project company |
| The Project sponsor is Nakasero Hospital Limited, a private limited liability company incorporated on 1 August, 2005. NHL is owned by 24 Ugandan shareholders, 21 of whom are medical specialists who also practice at the Hospital. Marcantile Global Limited is the majority shareholder with over 50% shareholding. |
| Total project cost and amount and nature of IFC's investment |
| The Project is expected to cost approximately $11million equivalent to be financed with equity and debt. The proposed IFC investment is an A Loan of up to $3.0million equivalent. |
| Location of project and description of site |
| The Hospital is located on Plot Number 14A, Akii-Bua Road in Nakasero Kampala Municipality. This is a residential area located in close proximity to the Central Business District and with easy access by road from neighboring towns and cities. |
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| Anticipated development impact of the project |
| The Project is expected to expand access to quality healthcare services in Uganda including the extension of free eye clinic services for low income Ugandans. In addition, the Project will result in job creation as well as skills transfer in hospital administration and nursing care through technical partnerships. Finally, the Project is expected to demonstrate the potential positive medical & financial outcomes from private healthcare. |
| IFC's expected development contribution |
| Provision of long-term and extended grace period financing which the sponsor is unable to source locally. In addition, IFC will share with Nakasero its global experience, best practices and networks in the health care sector. |
| Environmental and social issues - Category B |
This is a Category B project according to IFC’s Environmental and Social Review Procedure because of the limited number of specific - largely environmental - impacts that may occur are site specific, and those impacts can be avoided or mitigated by adhering to generally recognized performance standards, procedures, guidelines or design criteria.
The facility is recently operational and no resettlement or biodiversity issues have been triggered as a result of site establishment. NHL is currently implementing a Total Quality Management System and has appointed a Quality Manager. Further, on-site solid waste management and disposal methods are adequate, although there is a need to formalize this by means of a defined waste management plan. Key issues that need to be addressed are associated with the implementation of site / activity specific environmental management procedures, treatment of waste water, compliance with relevant Life, Fire and Safety standards and training of personnel. All of the issues as identified may be effectively addressed via the project Environmental and Social Action Plan (ESAP). |
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| For inquiries about the project, contact: |
Moses Waithaka, CEO
14A Akii-Bua Road
Nakasero
P.O. Box 25261
Kampala
Uganda |
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| For inquiries and comments about IFC, contact: |
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster |
| Local access of project documentation |
Moses Waithaka, CEO
14A Akii-Bua Road
Nakasero
P.O. Box 25261
Kampala
Uganda
World Bank Public Information Centre
Rwenzori House, 1st Floor,
Lumumba Avenue Plot 1,
Kampala, Uganda
Telephone: (256) 414-332200/ 230094/231061/2
Fax: (256) 414-230092 |
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