New credit product targets healthcare service providers

Following the creation of a credit support intervention fund by the Central Bank of Nigeria (CBN) for the health sector, Unity Bank Plc has launched a product to ease credit access for healthcare service providers.

The new product tagged UnityCare is to improve health sector operators’ access to affordable credit, reduce medical tourism and conserve foreign exchange (FOREX).

It is also aimed at providing long-term, low-cost finance for operators of health infrastructural development, product manufacturing, services, pharmaceutical/medical product distribution and logistics services.

The product hopes to leverage CBN’s credit support intervention for the health sector to empower enterprises that meet the requirements of the facility.

Targets include manufacturers of pharmaceutical drugs and medical equipment as well as providers of services relating to hospitals, clinics, diagnostic centres, laboratories, fitness/wellness centres, rehabilitation centres, dialysis centres and blood banks.

Divisional Head, Retail, SME & E-business of the bank, Mr. Olufunwa Akinmade, said: “This provides an invaluable opportunity to channel funds to Nigerian-owned healthcare businesses to build and expand capacity to meet exigencies for essential healthcare products and services.

“We encourage operators in the health sector to take advantage of this affordable facility to expand their capacity while playing their part in curbing medical tourism and conserving the desperately-needed foreign exchange.”