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Abraaj to spend $500m growing African hospital business

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Kigali - Dubai-based emerging market investment fund Abraaj will spend up to $500m in start-up capital for a mid-tier hospital business in Africa, tapping into demand from the continent's emerging middle classes, an executive said on Wednesday.

Abraaj partner Sev Vettivetpillai said the group was well on the way to securing land for a 350-bed multi-speciality hospital in the Nigerian commercial capital Lagos, as well as buying several hospitals in Nairobi to form a healthcare 'cluster'.

Its other two target cities are Addis Ababa and Johannesburg.

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