BELSTAR DEVELOPMENT: Expanding access to healthcare in Ghana
Challenge: Access to quality healthcare has been severely constrained by the country’s lack of modern medical equipment, and demand increased after the inception of a national health insurance program in 2003.
Solution: OPIC provided $250 million in political risk insurance to Belstar Development, LLC so that the company could supply Ghanaian hospitals with medical equipment, services and infrastructure. Belstar Development, LLC, a Miami-based company, served as the lead investor in Ghana’s national medical equipment modernization project, a massive undertaking to improve the quality of hospitals in all of the country’s administrative regions.
Impact: Belstar brought logistical expertise to Ghana’s national medical equipment modernization project, supplying equipment such as oxygen generator systems, CT scanners, MRI machines, ultrasound and digital image management systems, critical care packages, and medical waste treatment plants to 161 medical facilities country-wide. This included regional hospitals, national hospitals and poly-clinics in both urban and rural locations. The company also provided training for Ghanaian medical personnel. As part of this project, several dozen mobile clinics equipped with backup generators were dispatched to deliver quality healthcare to rural areas of Ghana. These mobile clinics helped close a significant gap in the delivery of healthcare to underserved segments of the population.
According to Belstar, OPIC’s political risk insurance not only allowed them to successfully execute this project, but it also attracted further investment into the national medical equipment modernization initiative. OPIC’s support provided them with the risk mitigation that is required for private ventures in challenging economic environments.
At the 2015 OPIC Impact Awards, OPIC recognized Belstar Development, LLC for its excellence in development in the innovation category.
This project was profiled in 2017