Home Finance AFC pledges $40m to support Africa’s Medical Centre of Excellence in Abuja

AFC pledges $40m to support Africa’s Medical Centre of Excellence in Abuja

by Business News Report

Africa Finance Corporation (AFC), a leading infrastructure financier, has pledged up to US$40 million to support the construction of the African Medical Centre of Excellence (AMCE) Abuja. The 500-bed medical health facility is being developed by the Africa Export-Import Bank (Afreximbank), in partnership with King’s College Hospital, London (KCH). The historic agreement took place at the inaugural AMCE African Health Forum in Abuja. The project is set to strategically leverage KCH’s unmatched diagnostic, clinical, and capacity-building expertise, focusing on three core non-communicable diseases: oncology, cardiology, and haematology. With a commitment to world-class research, education, and development, AMCE aims to establish itself as a leader in clinical services.

The AMCE initiative signals a healthcare revolution in West Africa, aiming to redirect the course of medical tourism away from the continent. It envisions the creation of a series of world-class medical centres of excellence in Africa, providing widespread access to critical healthcare in the region. AMCE Abuja, a first-of-its-kind medical treatment and research centre, will unfold in four phases over six years. AFC, as a new shareholder, will play a pivotal role in the initial phase, involving the construction of a 170-bed specialist hospital, set to expand to 500 beds by the third phase. With construction progress already over halfway complete, the facility is on track to commence operations in the first quarter of 2025.

The African healthcare sector grapples with a severe infrastructure deficit and a chronic shortage of qualified medical practitioners. Government-owned health facilities are strained, relying on medical tourism due to inadequate capacity. Hospitals across West Africa face funding challenges, lack essential resources, and struggle with limited access in rural areas. AMCE aims to bridge this gap by creating approximately 3,000 jobs during construction and operational phases, employing over 200 people and offering training opportunities for doctors and nurses. The facility is projected to provide state-of-the-art care to over 350,000 patients in Nigeria and other African countries within its first five years of operation. Additionally, it seeks to attract talent back to the continent, improving access to much-needed healthcare.

Samaila Zubairu, AFC President and CEO, expressed the organisation’s commitment to transforming healthcare in Africa and contributing to a reversal in medical tourism. He emphasised the importance of building a world-class facility that captures medical spending in Africa, promotes specialist skills development, and attracts healthcare practitioners to local communities. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, lauded AFC’s partnership, emphasising its significance in addressing Africa’s healthcare infrastructure challenges. He called for more partners to join this crucial endeavour to revolutionise healthcare in Africa and make a lasting impact on community well-being.

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