Africa Finance Company (AFC) (www.AfricaFC.org), the continent’s main instrumental infrastructure options supplier, right now signed an fairness funding time period sheet, pledging as much as US$40 million in direction of the development of the African Medical Centre of Excellence (AMCE) Abuja hospital. The visionary 500-bed medical well being facility is at the moment being developed by Africa Export-Import Financial institution (Afreximbank), the main commerce finance financial institution for Africa, in partnership with King’s Faculty Hospital, London (KCH). The settlement was signed on the inaugural AMCE African Well being Discussion board in Abuja.
The venture will strategically harness KCH’s unparalleled diagnostic, medical, and capacity-building experience and specialize in three core non-communicable illnesses – oncology, cardiology, and haematology – with a dedication to world-class analysis, training, and growth capabilities to determine itself as a pacesetter in medical providers.
The AMCE initiative heralds a revolution in healthcare in West Africa. It goals to show the tide of medical tourism away from the continent by constructing the primary in a collection of world-class medical centres of excellence in Africa, thus offering widespread entry to essential well being care within the area.
A primary-of-its-kind medical remedy and analysis centre, AMCE Abuja might be executed in 4 phases over six years. As a brand new shareholder, AFC will play a pivotal function within the first part that entails constructing an preliminary 170-bed specialist hospital, set to increase to 500 beds by the third part. With development over midway full, the ability is on monitor to start operations within the first quarter of 2025.
The African healthcare sector faces a extreme infrastructure deficit and an equally power scarcity of certified medical practitioners. Authorities-owned well being services are stretched to their limits attributable to insufficient capability, resulting in a reliance on medical tourism and its related burdens. Hospitals throughout West Africa battle with funding, lack of important assets, and restricted entry in rural areas.
The AMCE goals to cut back this hole by creating roughly 3,000 jobs throughout development and operational phases, using over 200 individuals, and providing coaching alternatives for docs and nurses. The power is projected to supply cutting-edge care to over 350,000 sufferers in Nigeria and different African nations inside its first 5 years of operation. Moreover, it goals to draw expertise again to the ecosystem on the continent, offering higher entry to a lot wanted healthcare.
AFC President&CEO, Samaila Zubairu, mentioned: “Africa’s healthcare sector suffers a extreme and alarming infrastructure hole and a scarcity of certified medical practitioners. We’re due to this fact happy to accomplice alongside Afreximbank and King’s Faculty Hospital, London, on this epoch-making venture that may rework healthcare in Africa and contribute to a reversal in medical tourism. Constructing a world-class facility that captures medical spend in Africa, promotes specialist abilities growth, retains and, most significantly, attracts healthcare practitioners in our native communities, aligns effectively with AFC’s import substitution technique and we sit up for working with all companions to determine the AMCE as a beacon of medical excellence on the continent.”
President and Chairman of the Board of Administrators of Afreximbank, Benedict Oramah, mentioned: “We’re delighted that AFC have joined us as strategic companions on this necessary initiative aimed toward addressing Africa’s healthcare infrastructure challenges. This collaboration exemplifies the facility of cooperation amongst African Growth Finance Establishments in driving impactful tasks that profit our communities and promote sustainable progress. By investing in AMCE Abuja, we’re not solely supporting the institution of world-class healthcare infrastructure but in addition creating alternatives for job creation, abilities growth, and data switch. We invite extra companions to affix us on this essential endeavour to revolutionise healthcare in Africa and make a long-lasting affect on the well-being of our communities.”
The collaboration units a robust precedent for African Growth Finance Establishments (DFIs) to deal with infrastructure challenges throughout the continent. By means of the institution of a world-class medical and well being facility in West Africa, these establishments reaffirm their dedication to shaping a more healthy and extra sustainable future for Africa.
Distributed by APO Group on behalf of Africa Finance Company (AFC).
AFC media enquiries:
Yewande Thorpe
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Africa Finance Company
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About AMCE:
The African Medical Centre of Excellence, Abuja (AMCE Abuja), a quaternary-level multi-speciality medical establishment developed by Afreximbank in collaboration with King’s Faculty Hospital, London, goals to revolutionise healthcare in Africa. Established to deal with essential gaps, the AMCE Abuja is dedicated to offering world-class care by way of modern analysis, growth, and training. The centre, headquartered in Abuja, will provide complete providers in oncology, haematology, cardiovascular care, and basic healthcare throughout the continent, with plans for growth. The first purpose is to curb medical tourism by providing superior procedures comparable to stem cell transplantation and state-of-the-art therapies for numerous illnesses. The development part, supported by international companions, precedes a phased rollout over six years, evolving right into a 500-bed facility.
By addressing healthcare mind drain and decreasing medical tourism, the AMCE Abuja creates employment alternatives throughout medical and non-medical sectors. Following the groundbreaking ceremony in December 2021 by former President Muhammadu Buhari, the AMCE Abuja is about to start operations in early 2025. This flagship facility in Abuja is a key a part of Afreximbank’s community of healthcare services, actively countering mind drain, decreasing medical tourism, and fostering employment alternatives. The imaginative and prescient for the AMCE initiative is to form a more healthy and extra educated future for Africa.
About Africa Finance Company:
AFC was established in 2007 to be the catalyst for personal sector-led infrastructure funding throughout Africa. AFC’s strategy combines specialist business experience with a deal with monetary and technical advisory, venture structuring, venture growth, and threat capital to deal with Africa’s infrastructure growth wants and drive sustainable financial progress. Seventeen years on, AFC has developed a monitor file because the accomplice of alternative in Africa for investing and delivering on instrumental, high-quality infrastructure belongings that present important providers within the core infrastructure sectors of energy, pure assets, heavy business, transport, and telecommunications. AFC has 43 member nations and has invested US$13 billion throughout Africa since inception. www.AfricaFC.org
About African Export–Import Financial institution:
African Export-Import Financial institution (Afreximbank) is a Pan-African multilateral monetary establishment mandated to finance and promote intra-and extra-African commerce. For 30 years, the Financial institution has been deploying modern buildings to ship financing options that help the transformation of the construction of Africa’s commerce, accelerating industrialization and intra-regional commerce, thereby boosting financial growth in Africa. A stalwart supporter of the African Continental Free Commerce Settlement (AfCFTA), Afreximbank has launched a Pan-African Cost and Settlement System (PAPSS) that was adopted by the African Union (AU) because the fee and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Financial institution is establishing a US$10 billion Adjustment Fund to help nations to successfully take part within the AfCFTA. On the finish of 2022, Afreximbank’s whole belongings and ensures stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Financial institution disbursed greater than US$86 billion between 2016 and 2022. Afreximbank has funding grade rankings assigned by GCR (worldwide scale) (A), Moody’s (Baa1), Japan Credit score Score Company (JCR) (A-) and Fitch (BBB). Afreximbank has developed into a gaggle entity comprising the Financial institution, its affect fund subsidiary known as the Fund for Export Growth Africa (FEDA), and its insurance coverage administration subsidiary, AfrexInsure, (collectively, “the Group”).
