GE Healthcare and Access Bank Nigeria to boost Nigeria’s healthcare sector

Access bank NigeriaAccess Bank Nigeria and GE Healthcare have partnered to provide sustainable healthcare equipment financing to private healthcare providers, a move that aims to deliver access to affordable healthcare services

Under the partnership, borrowers will be able to secure loans of up to US$800,000 negotiable, based on the customer requirement.

Access Bank will provide access to loans for eligible healthcare providers, while GE Healthcare will support the programme through the provision of GE healthcare equipment and technical support.

The equipment under the partnership scope includes imaging solutions including magnetic resonance imaging (MRI) and computed tomography (CT), ultrasound machines and life care solutions. Borrowers which qualify for loans include private healthcare providers such as hospitals, clinics, diagnostic centres and other private practices offering a broad array of services.

Eyong Ebai, general manager for GE Healthcare West, Central and French Sub-Saharan Africa, said, “We are committed to investing in Public and Private Partnerships that innovate new delivery models that will improve access to affordable and quality patient outcomes, as we progress towards universal healthcare coverage (UHC) in Nigeria. Our partnership with Access Bank will help lift the financial burden off the healthcare providers.”

“There is a need to provide innovative financing models for healthcare providers especially in the private sector, who currently face challenges accessing financing for the purchase of healthcare equipment due to the risk associated with the business. As a financing institution, we are committed to providing financing at both the health-service-provider level and at health-service-consumer levels to ensure that the people of Nigeria have all they need to live healthy lives,” said Herbert Wigwe, CEO of Access Bank.

Earlier this year, Access Bank was recognised for the second time as the ‘Outstanding Healthcare SME-Friendly Bank of the Year’ at the Nigerian Healthcare Excellence Award (NHEA) 2019.

The need to provide affordable healthcare in Nigeria is crucial to the development of the Nigerian Healthcare sector. Even as the World Health Organisation (WHO) has identified UHC as a unifying concept and goal for the Government as they strengthen their health systems and discharge their obligations under the right to health. GE Healthcare and Access bank scheme were, therefore, born out of the necessity to provide the needed support to the Nigerian Healthcare environs, by providing healthcare finance at affordable rates and longer tenor.

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