British International Investment

MedAccess

Central AfricaEast AfricaGlobalSouth AsiaSouthern AfricaWest AfricaConsumer - Health

MedAccess is an innovative social finance company committed to expanding and accelerating access to life-saving medicines, vaccines and diagnostics in Africa and South Asia.

The company launched in 2017, with a huge amount of support and input from DFID (which had the initial idea to create the company), the Clinton Health Access Initiative (CHAI) and the Bill and Melinda Gates Foundation (BMGF).

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

CFAM has been established as a wholly owned subsidiary of CDC with an initial capital commitment of $200 million, with a further potential funding opportunity of $300 million.

We will be looking to raise additional capital from third-party investors in the future.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

CFAM will work with manufacturers and buyers of health commodities to overcome market failures that result in vital health commodities often being unaffordable, out of stock, or poorly-suited to the needs of communities in Africa and South Asia.

This creates the potential to make a significant contribution to improving the lives of people in these regions.

CFAM is investigating its first potential deal, a guarantee to lower the pricing of and accelerate access to HIV diagnostic tests across several low- and middle-income countries.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D1928
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    Central Africa, East Africa, Global, South Asia, Southern Africa, West Africa
    Country

    The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.

    :
    Bangladesh, Cote d'Ivoire, Democratic Republic of Congo, Global, Kenya, Malawi, Nigeria, Pakistan, Rwanda, Uganda, Zambia, Zimbabwe
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Consumer - Health

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Equity
    Start date :
    December 2017
    Amount :
    $200m
    Currency of investment :
    USD
    Domicile

    The company or investment fund’s place of incorporation.

    :
    United Kingdom

Subscribe to receive our latest news and updates