Afreximbank has unveiled plans to scale up its investment footprint across the African continent, with a particular focus on strengthening critical sectors of national economies, including healthcare.
The announcement came during a media tour of the African Medical Centre of Excellence (AMCE) in Abuja, Nigeria, a flagship health infrastructure project developed with the bank’s support.
Speaking at the event, Oluranti Doherty, Managing Director for Export Development at Afreximbank, highlighted the bank’s commitment to reducing the estimated $2.5 billion Africa loses annually to outbound medical tourism.
“Some people may struggle to understand why a bank like Afreximbank decided to venture into healthcare. Afreximbank is a development finance institution whose mission is to drive Africa’s economic growth through innovation, investment, and the promotion of intra-Africa trade”
“We aim to curb outbound medical tourism, strengthen the healthcare system, enhance skills of local healthcare professionals, and foster innovation in medical research tailored to the continent’s unique needs”, he said.
The AMCE, a multi-million-dollar collaboration between Afreximbank and King’s College Hospital, London, is positioned to become a leading center for specialized care in oncology, cardiology, haematology, and general health services.
With a projected capacity of 500 beds and the ability to serve over 350,000 patients in its first five years, the center aims to provide world-class care while addressing the growing demand for quality medical services within Africa.
Beyond its immediate healthcare impact, the AMCE is also expected to stimulate local economic growth through job creation and professional training opportunities. It will create an estimated 3,000 direct and indirect jobs, as well as attract Nigerian healthcare professionals working abroad to return home.
According to Mr. Doherty, the medical center is only one aspect of Afreximbank’s broader mission to support socio-economic transformation across Africa.
“Beyond healthcare delivery, AMCE Abuja is about job creation, research and innovation, and training the next generation of African healthcare professionals”.
“It is a symbol of what can be achieved through strong partnerships, between public and private sectors, between Africa and its diaspora, and among institutions committed to excellence”, she added
As part of its long-term strategy, Afreximbank plans to channel investments into other critical areas including manufacturing, technology, education, and trade infrastructure. The goal, according to the bank, is to drive industrialization, improve healthcare access, and promote self-sufficiency across the continent.
The media tour of the AMCE brought together government officials, industry stakeholders, and representatives from Afreximbank, signaling the importance of collaborative approaches in addressing Africa’s infrastructure and health challenges. The official launch of the African Medical Centre of Excellence is scheduled to take place later this week
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