Africa’s health sector is about to experience a significant boost following a partnership arrangement between the African Business Coalition for Health (ABCHealth) and the United Nations Economic for Africa (ECA).
According to a press release, the initiative by the two organisations will develop and jointly execute the Healthcare and Economic Growth in Africa (HEGA 2) report and African Continental Free Trade Area (AFCFTA)-anchored Pharma Initiative.
Commenting on the partnership, Aliko Dangote, Co-Founder of ABCHealth, said: “With the coalition that ABCHealth is building across the continent, responsible business leaders and philanthropists will have a platform that enables them make sustainable, large scale investments in health that transform African economies and people.”
On his part, Aigboje Aig-Imoukhuede, ABCHealth Chairman, said:
“We are confident of the impact this partnership will bring to bear on the continent. It is our firm belief that with the public and private sectors working together, combining political will with business knowledge, Africa’s health sector can be built to the point where it will deliver affordable health to Africans in an equitable manner.”
Vera Songwe, ECA Executive Secretary, on the other hand, stated: “Investing in health is not just a social good, it also makes a good business case. Prior to the COVID-19 pandemic, business opportunities in the healthcare and wellness sector in Africa were estimated to be $259 billion by the year 2030, with the potential to create 16 million jobs.
The pharmaceutical industry alone was estimated to be $60 billion in 2020 and is still growing