Unity Bank Unveils UnityCares to Boost Access to Healthcare

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Unity Bank Plc has launched a product called UnityCares.
This followed the creation of credit support intervention fund by the
Central Bank of Nigeria for the health sector.

The product is expected to ease the facilitation of on-lending scheme
targeted at individuals, businesses, manufacturers and services
providers in the healthcare sector.

According to a statement, UnityCares is a credit scheme aimed at
supporting indigenous pharmaceutical companies and healthcare
practitioners and other value chains businesses to provide access to
loan facilities of up to N2 billion per company at five per cent
interest rate.

The new UnityCare product would thus cater to improve access to
affordable credits by players, reduce medical tourism and conserve
foreign exchange.

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

“Leveraging on the Central Bank of Nigeria’s credit support
intervention for the health sector, UnityCares hopes to empower as
many enterprises as meet the requirements for the facility.

“The main target beneficiaries of the credit scheme include healthcare
product manufacturers – pharmaceutical drugs and medical equipment;
healthcare service providers/medical facilities such as
hospitals/clinics; diagnostic centres/laboratories; fitness and
wellness centres; rehabilitation centres; dialysis centres and blood
bank operators.

“Others include the pharmaceutical/medical products distribution and
logistics services and other human healthcare service providers as may
be determined by the CBN from time to time.

“To benefit from the UnityCares facility, a healthcare organisation
may not need an account with Unity Bank to benefit from the on-lending
scheme,” the bank stated.

Commenting on the new UnityCares product, Divisional Head, Retail, SME
& E-business, Unity Bank Plc, Mr. Olufunwa Akinmade said: “UnityCares
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 in the face of
unravelling global pandemic.

“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.”