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AMCE gets US$40m Africa Finance Corporation investment

The Africa Finance Corporation (AFC) has signed  an equity investment term sheet, pledging up to US$40 million towards the construction of the African Medical  Centre …

The Africa Finance Corporation (AFC) has signed  an equity investment term sheet, pledging up to US$40 million towards the construction of the African Medical  Centre  of  Excellence  (AMCE)  Abuja  hospital.

AMCE is a 500-bed medical health facility currently being developed by Africa Export-Import Bank (Afreximbank) in partnership with King’s College Hospital, London (KCH). The agreement was signed at the inaugural AMCE African Health Forum in Abuja.bb

President and chairman of the board of Directors of Afreximbank, Prof. Benedict Oramah said AMCE would  reduce outbound medical tourism by elevating the quality and accessibility of healthcare services within Nigeria,  adding that it would  promote employment, foster a culture of locally driven research and development, and also  attract investments into Nigeria’s healthcare value chain.

The Africa Finance Corporation (AFC)’s president and Chief Executive Officer, Samaila Zubairu, said: “We  are therefore  pleased to  partner alongside Afreximbank  and King’s College Hospital, London, on this epoch-making project that will transform healthcare in Africa and contribute to a reversal in medical tourism.”

The Federal Ministry of Health and Social Welfare also  signed a  memorandum of understanding (MoU) with Afreximbank during the  AMCE Africa health forum in Abuja.

The Coordinating Minister of Health and Social Welfare, Prof Muhammad Ali Pate, commended Afreximbank for its support and investments in healthcare programmes in Nigeria and the continent .

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