In order to build the African Medical Centre of Excellence in Abuja, King’s College Hospital and the Africa Finance Corporation inked a $40 million equity investment agreement on Wednesday.
According to the Punch, A statement from the infrastructure solutions provider, the AMCE program aims to create the first of many world-class medical centers of excellence in Africa, giving people access to vital healthcare, in an effort to reverse the trend of medical tourism away from the continent.
It stated that “King’s College Hospital in London and the African Export-Import Bank were working together to create the 500-bed medical facility.”
At the first-ever AMCE African Health Forum in Abuja, the agreement was signed.
AFC, a recent shareholder, will be essential to the first phase, which entails constructing a 170-bed specialist hospital that will grow to 500 beds by the third phase.
It stated, “The facility is on track to commence operations in the first quarter of 2025 with construction over halfway completed.”
Chief Executive Officer and President of the African Football Confederation, Samaila Zubairu, commented on the situation, saying, “Africa’s healthcare sector suffers from a severe and alarming infrastructure gap and a shortage of qualified medical practitioners.
Thus, we are happy to collaborate on this historic project with Afreximbank and King’s College Hospital in London, which will revolutionize healthcare in Africa and help to reverse the trend of medical tourism.
“We look forward to working with all partners to establish the AMCE as a beacon of medical excellence on the continent. Building a world-class facility that captures medical spend in Africa, promotes specialist skills development, retains and, most importantly, attracts healthcare practitioners in our local communities, aligns well with AFC’s import substitution strategy.”
“We are delighted that AFC has joined us as strategic partners on this important initiative aimed at addressing Africa’s healthcare infrastructure challenges,” stated President and Chairman of the Board of Directors of Afreximbank, Benedict Oramah.
This partnership is a perfect example of how African Development Finance institutions can work together to drive meaningful initiatives that strengthen communities and encourage sustainable growth.
