Daily Newsletter

22 February 2024

Daily Newsletter

22 February 2024

AFC to invest $40m to build AMCE Abuja hospital in Nigeria

The 500-bed facility is being developed through a collaboration between Afreximbank and King’s College Hospital, London.

Soumya Sharma February 22 2024

Multilateral development financial institution Africa Finance Corporation (AFC) has allocated up to $40m for building the African Medical Centre of Excellence (AMCE) Abuja in Nigeria.

The 500-bed medical facility aims to 'revolutionise' healthcare in West Africa with a focus on treating cardiology, oncology and haematology.

It is being developed through a collaboration between Africa’s trade finance bank Africa Export-Import Bank (Afreximbank) and King’s College Hospital, London (KCH).

It will also emphasise other capabilities, such as research, education, and development, to position itself as a key organisation in the clinical services domain.

An equity investment term sheet for the funding was signed at the inaugural AMCE African Health Forum in Abuja.

AMCE Abuja is due to be developed in four phases over the next six years.

AFC will play a key role in the first development phase, which includes building a 170-bed specialist hospital.

More than half of the facility has been built to date and it is currently on track to be operational in the first quarter of next year.

According to AFC, AMCE will create around 3,000 jobs and provide training opportunities for local doctors and nurses.

Within five years of its opening, the facility is expected to serve more than 350,000 patients from Nigeria and other African nations.

Afreximbank president and board chairman Benedict Oramah said: “This collaboration exemplifies the power of cooperation among African development finance institutions in driving impactful projects that benefit our communities and promote sustainable growth.

“By investing in AMCE Abuja, we are not only supporting the establishment of world-class healthcare infrastructure but also creating opportunities for job creation, skills development, and knowledge transfer.

“We invite more partners to join us in this crucial endeavour to revolutionise healthcare in Africa and make a lasting impact on the well-being of our communities.”

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors


Sign up to the newsletter: In Brief

Your corporate email address *
First name *
Last name *
Company name *
Job title *
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.