Cheyenne, WY (June 16, 2015) Last month at the 2015 Impact AwardS, the Overseas Private Investment Corporation (OPIC) recognized Belstar Development, LLC for excellence in development in the innovation category. Belstar is a Miami company that is serving as the lead investor in Ghana’s National Medical Equipment Modernization project, a massive undertaking to improve the quality of healthcare in 100 hospitals across all 10 of Ghana’s administrative regions. OPIC is supporting the project with political risk insurance.
Belstar brought logistical expertise to the initiative, supplying equipment such as oxygen generator systems, MRI machines, CT scanners, ultrasound and digital image management systems, critical care packages, medical waste treatment plants, and mobile clinics as well as training for Ghanaian medical personnel.
The modernization project also set into motion several dozen Odulair Mobile Clinics equipped with backup generators to deliver quality healthcare to more rural areas of Ghana that may not have physical infrastructure or access to electricity. These Odulair Mobile Clinics help close a significant gap in the delivery of specialty medicine to underserved segments of the population.
"The Odulair Mobile Clinics were designed specifically for the Ghana Ministry of Health and the patient population that they serve as part of our Odulair Mobile Clinics for Africa Program," said Dr. Anita Chambers, President of Odulair, LLC. "We are honored to work with the Ministry and proud of the success they have achieved with our mobile clinics in this innovative healthcare outreach program," Chambers said.
“The results are tremendous, people are sending letters to thank us. The impact is enormous,” said Kofi Ampim, Chairman of Belstar Development, during the OPIC awards event.
Belstar officials also said that OPIC’s political risk insurance proved to be valuable in attracting further investment in the project. Private ventures in challenging economic environments like Ghana often require risk mitigation, and OPIC’s political risk insurance for the medical modernization project served just this purpose.
“OPIC is probably the only institution that allowed us to execute this project. From the point of view of investing in Ghana, the OPIC insurance was very, very important,” said Arthur Polk, Manager of Belstar Development. “Political risk insurance is primarily used by companies to go into difficult markets. Without this insurance, the cost of financing would be so high that financing might not be able to go forward.”
“OPIC is here to facilitate the private sector,” added Polk. “They are serving as a catalytic force to bring American investment to areas that need it most.”