Phase 1
Under construction41 inpatient beds
- Investment
- 3,595M FCFA (≈ €5.5M)
- Equity
- 1,500M FCFA (41.7%)
- Bank financing
- under review
- Planned opening
- November 2027
Source: SHG S.A. Business Plan, February 2026. Financial projections and ratios are based on internal, unaudited assumptions. This information is provided for indicative purposes for banking partner analysis. Fixed exchange rate: 1 EUR = 655.957 FCFA.
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41.7% equity · 3,595M FCFA investment (Phase 1) · construction under way
SHG S.A. is seeking banking partners for the financing of Adamawa's first private hospital in Ngaoundéré.
Repayment capacity is analyzed in a conservative scenario and a downside scenario. Coverage ratios, the sensitivity tests and the facility terms are set out in the credit file, released on execution of a confidentiality agreement.
Projections based on conservative scenario: 60% capacity in Y1, 10% bad debt, excluding cross-border flows and the Minim-Martap mining project. Positive FCF from Y2. Cumulative 8-year FCF: 8.6Bn FCFA.
Collateral to be constituted and valued with the bank: first-ranking conventional mortgage on the hospital building, pledge over business assets and medical equipment, business interruption insurance. Details are set out in the credit file, released on execution of a confidentiality agreement.
An orthopedic surgeon (Germany, about 3,700 procedures a year) and a urologist (Cameroon, more than 20 years of practice, more than 100 patients a month) are shareholders: a patient base secured from opening reduces the ramp-up risk.
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A first phase to open the hospital and make it profitable, a second to bring its capacity to 250 beds.
41 inpatient beds
+209 inpatient beds
Status as of October 2026.
Still to be obtained before operations begin: the opening license, issued once the premises are found compliant.
250 beds
Phase 2 figures are indicative: they will be finalized before any investment decision on that phase, and the capital required for Phase 2 will be announced in due course. The key figures further down concern Phase 1 only.