Private Sector Investment Will Trigger Growth in Africa’s Health Sector, Says Report

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Preliminary findings uncovered in a special report presented at a high-level dialogue titled: ‘Health and financing in Africa’ has advocated private sector participation as a major requirement for the growth of African economy and improvement in health sector.

 The dialogue which assembled African heads of state, corporate CEOs and NGO leaders alongside United Nations General Assembly took place on September 27, 2018.

 A collaborative effort of GBCHealth, Aliko Dangote Foundation and the United Nations Economic Commission for Africa (ECA), the preliminary report revealed that neither government nor existing public-private partnerships (PPPs) are effective enough, and that existing PPPs disproportionately focus on a small number of countries.

Pointedly, the report proposed a new model, one in which PPPs prioritise around the most significant disease burden and broaden their scope to benefit the health of the continent, which is deemed critical to driving long-term economic growth in Africa.

The report entitled: ‘Healthcare and Economic Growth in Africa’ will serve as the foundation of discussions at the Africa Business: Health Forum on February 12, 2019, and will be formally launched at the event in Addis Ababa on the margins of the African Union summit.

Also, the Africa Business Health forum will formally launch the African Business Coalition for Health, a joint initiative of GBCHealth and the Aliko Dangote Foundation.

 GBCHealth, accordingly, is aimed at unlocking synergies to help the private sector contribute more directly to meeting national and regional health goals in the context of SDG Agenda 2030 and Africa Agenda 2063, as well as provides a platform that can help realise more strategic and collaborative partnerships, “ultimately improving the standard of living, the quality of life and the overall health and well-being of all Africans.

 “Today’s dialogue was a much-needed call-to-action for the African private sector as evidenced by the research.

“The best way to move Africa forward is for businesses to step up in health care and take bold action. We must work together, across industries and with governments and communities to foster innovation and drive more strategic investments that benefit us collectively,” Chairman, Aliko Dangote Foundation, Alhaji Aliko Dangote said. 

Earlier, Aigboje Aig-Imoukhuede, Founder and Chair, African Initiative for Governance and Co -Chair, GBCHealth, in his opening remarks had emphasised the group’s collective goal to identify solutions for health and finance in Africa.