Àrgentil Capital Partners backs the development of COVID-19 mobile testing laboratories in Nigeria
Posted on: 30 April, 2020 at 8:39 AM
Àrgentil Capital Partners is providing support to a number of initiatives to help with the healthcare emergency created by the COVID-19 pandemic. This has seen the firm provide financial resources to pay for a full complement of medical staff at one of the newly built medical facilities in Lagos State as well as support with contributions to help those affected by the economic impact of the pandemic.
It also recently partnered with its portfolio company Tempohousing Nigeria, an affordable housing provider, and other leading firms in their fields including 54gene, Wild Fusion and Arnergy Solar to develop and deploy mobile COVID-19 testing laboratories with the first being deployed in Ogun State, Nigeria. The mobile lab is environmentally friendly in terms of build and energy supply and will allow testing to be done across the state. The partners are working on additional deployments across different states towards making testing more accessible to people in Nigeria.
This is in line with Argentil’s investment philosophy of supporting and partnering with indigenous entrepreneurs to provide solutions to help fast track Africa’s development. The firm’s first fund, Àrgentil Principal Investment Portfolio (APIP I) completed eight investments which have been fully exited. A follow on fund, APIP II, has made three investments including Tempohousing.
Tempohousing provides sustainable solutions in Nigeria by repurposing shipping containers for residential and commercial use, thus addressing Africa’s infrastructure challenge in an affordable and environmentally conscious manner. The spaces developed by Tempohousing are taken up by lower-income earners, young professionals, students, SMEs and other sectors of the economy where high traditional build and land costs in the cities make it difficult to access quality living and commercial workspaces.
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