The African Export-Import Bank (AFREXIM) is to build a mega center of excellence for tertiary healthcare in Nigeria, in partnership with Kings College London.
AFREXIM is developing the Centre as a joint initiative with the Kings College London, and the idea is to create capacities to treat complex diseases in Africa, reduce medical tourism and train medical practitioners.
At a local media engagement on Wednesday in Abuja, Benedict Oramah, President and Chairman, AFREXIM said the bank is building the facility in collaboration with the Federal Government, through the ministry of health and run under an arrangement with London Kings College hospital.
The facility will be owned by AFREXIM and will be opened to investors within Africa and outside, according to Oramah.
“We are also in the process of promoting intra African trade, this time in medical services, working with the ministry of health and Kings College London, to build a Centre of Excellence for tertiary care in Nigeria,” he stated.
He said Nigeria was selected to host the Centre of Excellence in health care facility, through a competitive and open process and that the agreement was signed in July.
He said work would commence on the project next year, which will not only look at cancers but cardiovascular diseases.
He said the Centre will be cited in Abuja or Lagos, a decision which the Nigerian government will take.
He said this will help Africans who travel abroad to access medical facilities and in the process, conserve the scarce forex and check brain drain in the medical field.
He further observed that the cost of the facility is not yet finalized, assuring that funding would not be a limitation.
Owned by shareholders from 44 participating countries spread across the continent, AFREXIM Bank has total assets amounting to about $15 billion and on an annual basis, disburses over $20billion to $25 billion, supporting all aspects of trade and trade related activities. The bank has since commencement of operations in 1994, disbursed close to $40 billion, according to available figures.
AFREXIM is a pan- African multilateral trade Finance institution created in 1993 as a private sector led bank, but under the auspices of the African. Development Bank with the mandate to finance and promote intra and extra-trade using three broad services.
Onyinye Nwachukwu, Abuja
