Proparco and AfricInvest finance Lapaire to support accessible optical care in Africa
published on 16 October 2024
Proparco and AfricInvest together approved financing for Lapaire Glasses SA, an optical retail chain offering quality eyewear at a fair price in West and East Africa (Ivory Coast, Benin, Togo, Mali, Burkina Faso and Uganda). USD 2.5M in financing will be made available from AfricInvest and EUR450k from Proparco, through its Bridge by Digital Africa facility, to support the improvement of optical care coverage on a continent where the WHO estimates that 80% of visually impaired people do not receive proper care. AfricInvest and Proparco’s financing will enable Lapaire to improve its territorial coverage in the countries where it currently operates, while ensuring the expansion of its network in Senegal, the D.R. of Congo and Tanzania.
Created in 2018 in Kenya by Jérôme Lapaire, the optical company offers solutions that meet the highest standards at optimized prices. Throughout its network of 80+ optical shops, Lapaire offers free eye tests to determine the required correction to its customers. Thanks to a fair price policy and a payment installment system, Lapaire contributes to providing access to essential care to its target population, with 70% of their clients buying their first pair of glasses.
Jérôme Lapaire, CEO of Lapaire said, “The financial and technical support of Proparco and AfricInvest is crucial to the development of our network of optical care on the continent and enables us to reach our objective of improving 1 million lives by 2026.”
Sadio Dicko, Regional Director of Proparco added, “Proparco is thrilled to support a committed company such as Lapaire, which provides better access to optical care for those with limited financial means. With its affordable price policy and free eye tests, Lapaire has a clear objective to create positive impact and to enable everyone to take care of their health.”
Faisal Jiwa, Senior Partner of AfricInvest added, “Africinvest is proud to support the Lapaire team through its Transform Health Fund and to contribute to making eye care more accessible and affordable to low- and middle-income patients, so often underserved across the continent. AfricInvest prides itself on helping African companies to expand their geographical reach so we are excited that our financing will also enable patients in new countries to benefit from Lapaire model.”
