The African Development Bank is to lend $20m to a private healthcare company in Nigeria to help improve hospital and other specialist health facilities in Lagos State. The loan has been grant to Santa Clara Medical Ltd to finance the development of private hospital and referral clinics in Lagos, thus boosting healthcare infrastructure in the region.
[CAVIE/ACCI] The African Development Bank is to lend $20m to a private healthcare company in Nigeria to help improve hospital and other specialist health facilities in Lagos State. The loan has been grant to Santa Clara Medical Ltd to finance the development of private hospital and referral clinics in Lagos, thus boosting healthcare infrastructure in the region.
Due to poor provision of quality healthcare facilities, many Nigerians choose to become ‘health tourists’. In Lagos State, for examples, which is Nigeria’s largest healthcare market, there are only 700-1,000 quality beds serving a population of more than 21 million people.
Dr Abdu Mukhtar, director of industrialisation and trade development at the AfDB, said more than 30,000 Nigerians spend $1bn seeking specialist treatments in other countries.
“Completing this project [with Santa Clara Medical Ltd] would allow the country’s healthcare sector to benefit from some of these resources,” he explained.
He called the partnership an “important development”, explaining: “In spite of recent improvements, Nigeria’s health infrastructure remains rudimentary and insufficient to cater to the country’s growing population.”
The clinics that will be financed by the AfDB loan will be located throughout Lagos State.
According to the bank, they will “provide a full spectrum of high quality general and specialist healthcare services at competitive prices”.
In addition to general medical services, the clinics will provide specialist services including cardiology, urology, orthopedic and neuro surgery.
Around 250 temporary jobs are expected to be created during the construction phase, and 600 jobs once the clinics are operational.
The Santa Clara Medical facility is being promoted by AXA Mansard, a member of the AXA Group, Africa Capital Alliance, the International Finance Corporation and Healthshare Health Solutions, the hospital management company of the project.
The AfDB said the project underlines its commitment to improving quality of life for people in African countries.
