Morocco’s medical supplier Promamec has secured a USD 8.5 million facility from AfricInvest’s blended-finance health vehicle, Transform Health Fund (THF), to shore up working capital and expand its ability to supply equipment and consumables to healthcare providers across the country.
The financing takes the form of a senior secured loan, augmenting support from Promamec’s local banks and existing shareholders, including the founding Lahlou family and Vantage Capital.
Management says the capital will be used to strengthen inventory, speed deliveries, and ensure steady availability of items that hospitals and clinics use every day.
Founded in 1981 in Casablanca, Promamec supplies a wide range of specialised medical products, from dialysis and imaging systems to surgical devices and routine consumables.
The company positions itself as more than a distributor by keeping local stock, providing technical support, and offering maintenance and training services that make devices usable over the long term.
THF co-leads Noorin Mawani and Faisal Jiwa framed the investment as support for a supplier that pairs equipment with aftercare and local presence.
AfricInvest’s Transform Health Fund is a pan-African blended finance vehicle launched with partners including the Health Finance Coalition to address financing shortfalls in African health markets.
The fund’s structure includes catalytic capital designed to improve risk profiles and attract additional investors into health services and supply chain companies.
This transaction illustrates how blended finance is being used to fill gaps that commercial lenders and equity investors sometimes avoid, especially in sectors that require ongoing working capital and inventory financing.
A senior secured loan lets Promamec scale operations without diluting existing shareholders, while maintaining lender protections that make the deal attractive to both DFIs and commercial banks.DiFrom a market perspective, Promamec’s scale and technical capability matter. Health systems struggle when equipment sits idle for lack of spare parts or trained technicians, not merely because of capital shortages.
By pairing finance with operational know-how, the deal reduces the risk that imports become one-off purchases rather than durable assets in clinical use.
Several practical questions will determine whether the investment delivers expected returns and impact. Promamec must manage cross-border supply chains, currency and procurement risks, and the working capital cycle inherent to medical distribution.
The company will also need to demonstrate that improved stock availability translates into measurable improvements in service uptime and patient care metrics, which will be important signals for future investors.
Overall, the Promamec-THF transaction is a measured example of how impact capital and local finance can combine to strengthen health supply chains.If Promamec can convert the loan into higher availability, better maintenance, and stronger commercial relationships with hospitals and clinics, the model could be a template for similar suppliers across North Africa and beyond.