AXA Mansard, IFC, ACA, Others To Finance N28bn 150-bed Hospital, Two Clinics In Lagos

AXA Mansard, IFC, ACA, Others To Finance N28bn 150-bed Hospital, Two Clinics In Lagos

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Post Views: 2,055 The board of AXA Mansard Insurance Plc, on Thursday announced an agreement with the International Finance Corporation (IFC), Africa ...

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The board of AXA Mansard Insurance Plc, on Thursday announced an agreement with the International Finance Corporation (IFC), Africa Capital Alliance (a Private Equity fund) and other strategic investors to finance the construction of a 150-bed hospital and two 10-bed clinics in Lagos with a two to three-year period.
In a notice to The Nigerian Stock Exchange and the investing public, signed by Omowunmi Mabel Adewusi, its company secretary, the insurer said the project estimated to cost about N28bn would be funded through an equal mix of equity and debt.
“The shareholders agreement and other documents of the investment were executed to this effect today, 2 November 2017 and the expected completion of the project is in 24 – 30 months from commencement of construction,” AXA Mansard added.
It assured that “upon completion, the project will be one of the largest and best resourced private hospitals in Nigeria and will provide a variety of inpatient and outpatient healthcare services.”

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