Arican Export-Import Bank African Export-Import Bank (Afreximbank) has signed a $1 billion partnership agreement with the Federal Government to support the development of Nigeria’s healthcare sector under the Presidential Initiative for Unlocking Healthcare Value Chains (PVAC).
Similarly, the Africa Finance Corporation (AFC) is to invest US$40 million towards the construction of the African Medical Centre of Excellence (AMCE) Abuja hospital.
The 500-bed medical health facility is currently being developed by Afreximbank in partnership with King’s College Hospital, London (KCH). Speaking at the AMCE African Health Forum 2024, yesterday, in Abuja, during which the two Memorandum of understanding (MOU) were signed, President and Chairman of the Board of Directors of Afreximbank, Prof Benedict Oramah, said that the partnership with the Federal Government would support the establishment of world-class medical and health facilities and increase domestic manufacturing of essential pharmaceuticals.
diagnostics, vaccines, biologics and medical consumables.
In his remarks, AFC President & CEO, SamailaZubairu, lamented that Africa’s healthcare sector suffered a severe and alarming infrastructure gap and shortage of qualified medical practitioners.
Zubairu noted that Government-owned health facilities were stretched to their limits due to inadequate capacity, leading to a reliance on medical tourism and its associated burdens adding that hospitals across West Africa struggle with funding, lack of essential resources, and limited access in rural areas.
Coordinating Minister of Health and Social Welfare, Prof Mohammed Ali Pate said the MOU was for partnership on initiatives that would unlock the health ecosystem through the US $1 billion healthcare value chain programme and that already, several actors had shown interest in participating.
