Angello Provides Capital Loan to Help Health Care Company in Uganda during the Global Covid-19 Pandemic
St Eliza Health Care Services is a community-based health care company in Kampala Uganda that provides access to high quality medical services that are safe, professional and affordable. On average they serve 195 people per day, resulting in around 25,000 per year.
In response to the impact of the Covid-19 virus in Uganda, St Eliza sought financial support from Angello to protect the provision of their community health services during 'lock down' periods and to prepare for the surge in business post lockdown.
Our primary shared aim was to support the community through the continued delivery of affordable, safe and accessible health care services in smaller communities such as Gayaza, a local community in Kampala, Uganda. Additionally, building relationships with the community that expresses our shared value set was an important goal for us.
St Eliza exists to provide health care services to those with the greatest health needs but that have limited access to it due lack of financial resources. The impact of the global pandemic to communities in Uganda has resulted in reduced working hours, increased restrictions on freedom of movement, lack of access to credit and lack of access to critical supplies. Our mission was to reduce the risk of business failure for St Eliza Health Care Service so that those who it serves continue to get the help they need.
St Eliza drafted an evaluation of the business operations that would be impacted by Covid-19 which included drug supplies, staff salaries and rent for premises during a three-month period. The cost impact to drug supplies, salaries and rent amounted to $10,000 which we, at Angello, lent to St Eliza at zero interest. The loan was spread over three months to work with cash flow forecasts and is due to be repaid over eight months starting in September 2020.
Working with St Eliza has been a pleasure. It’s been enlightening to learn more of their passion to serve their community and in sharing their world views.
Alex Okello commented that ‘'with funds from Angello, we were able to continue to operate normally even when we were experiencing 30-40% reduction in daily sales.’
The funds from Angello enabled St Eliza to stock confidently, retain all their staff and protect them from financial ruin during the lockdown. Most importantly St Eliza were able to gain more confidence in helping their community because they did not increase their prices as much as other providers, which enabled those in real need to continue to access the health care help they required.