The GMED Holding Project is an IFC investment involving an unsecured, income-participating long-term loan of up to US$15 million to GMED Holding B.V., a medical technology manufacturing and distribution company. The project aims to support the growth of the company’s existing subsidiaries in Egypt and its expansion as a medical technology distributor into five East African countries. Key objectives include: (i) expanding GMED’s operations in Egypt; (ii) establishing distribution operations in Kenya, Ethiopia, Tanzania, Rwanda, and Uganda; and (iii) improving access to quality medical products and equipment across these markets.

In March 2026, CAO received a complaint submitted by employees of a company in Nairobi, Kenya. The complaint cited labor issues related to its reported acquisition by EGMED, specifically, a lack of consultation and information disclosure and an alleged requirement to either accept an involuntary transfer to GMED or resign and forfeit accrued benefits. The complainants contend that these conditions constitute forced labor under IFC Performance Standard 2 and relevant ILO conventions.

In May 2026, CAO found the complaint eligible and began its assessment. During CAO’s assessment, the parties agreed to engage in a voluntary CAO-facilitated dispute resolution process to address the issues raised in the complaint. In accordance with the CAO Policy, the case was transferred to CAO’s Dispute Resolution function. The Assessment Report is available in English.