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Access Bank, general electric offer $800,000 funding to healthcare providers

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Access Bank Nigeria Plc and General Electric (GE) Healthcare yesterday signed a Memorandum of Understanding (MoU) to give private healthcare providers in Nigeria equipment financing.

Under the scheme, borrowers will be able to secure loans from $5,000 to $800,000, based on the customer requirement. The loans are available to hospitals, clinics, diagnostic centres and other private practices offering a broad range of services.

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

The equipment under the partnership comprise imaging Solutions, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound Machines and Life Care Solutions.

Speaking at the ceremony, Chief Executive Officer (CEO) and Group Managing Director of Access Bank Plc, Herbert Wigwe, explained that the partnership woud help the private healthcare providers to deliver affordable healthcare services. He noted that while good healthcare facilities aid productivity, the need to provide affordable healthcare in Nigeria is key to the development of the Nigerian Healthcare sector.

Wigwe added that the scheme, which targets 36 states and 700 councils of the federation, would be available wherever there are medical facilities and professionals who aspire to do things differently.

“There is a need to provide innovative financing models for healthcare providers especially in the private sector, who currently face challenges accessing financing for purchase of healthcare equipment due to the risk associated with the business.

“As a financial institution, we are committed to funding both health-service-providers and healthcare-consumers to ensure that Nigerians have all they need to live healthy lives.

“The GE Healthcare and Access Bank scheme was, therefore, born out of the necessity to provide the needed support to the Nigerian Healthcare sector by providing financing at affordable rates and longer tenors,” he stated.

General Manager, GE Healthcare for West, Central & French Sub-Saharan Africa, Mr. Eyong Ebai, added, “We are committed to invest in Public and Private Partnerships (PPPs) 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.”


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Access BankHerbert Wigwe
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