• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate deals

Afreximbank, BOI sign $75 million financing support for local manufacturers in Nigerian Healthcare sector 

Nnaemeka Onyekachi by Nnaemeka Onyekachi
June 5, 2025
in Corporate deals, Health, Manufacturing, Sectors
Afreximbank, BOI sign $75 million financing support for local manufacturers in Nigerian Healthcare sector 
Share on FacebookShare on TwitterShare on Linkedin

The African Export-Import Bank (Afreximbank) and the Nigerian government-owned Bank of Industry (BOI) have announced the signing of a $75 million financing term sheet to support local manufacturers under the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) in Nigeria.

The PVAC is a Federal Government of Nigeria strategy aimed at achieving a measurable increase in the domestic manufacturing of generic pharmaceuticals, vaccines, biologics, and medical devices.

The financing term sheet was signed by officials of Afreximbank and the CEO of the Bank of Industry, Olasupo Olusi, on Thursday at the commissioning ceremony of the bank’s African Medical Centre of Excellence (AMCE) in Abuja.

RelatedStories

Nigeria rules out nuclear weapons pursuit, says focus is on addressing poverty and climate change 

Nigeria rules out nuclear weapons pursuit, says focus is on addressing poverty and climate change 

July 7, 2025
Cocoa Price

Cocoa settles below $9K per ton as Nigeria plans to boost Chocolate Production

June 25, 2025

The health facility was commissioned by President Bola Tinubu who was represented by Vice President Kashim Shettima, alongside other top government officials and diplomats.

Details of the Signing and Fund 

At the event attended by Nairametrics, Vice President Kashim Shettima and Afreximbank President, Prof. Benedict Oramah, unveiled the bank’s “African Life Sciences Foundation (AfLSF) and Endowment Fund.” 

The fund was created to support research and development of drugs and interventions relevant to people of African descent.

In addition to the $75 million financing term sheet with BOI, Afreximbank also signed a facility agreement for a €100 million trade finance facility in favor of the Development Bank of the Central African States (BDEAC).

The bank further signed its first Afreximbank Group venture capital investment in drug development and commercialization, as well as a terms of agreement between Afreximbank and King’s College London (KCL) on the establishment of a Medical and Nursing School at the AMCE, Abuja.

 More Insights 

Addressing the audience, Vice President Shettima described AMCE as a promise for the African continent.

  • He praised the partnership between AMCE and King’s College Hospital, London, noting that they have laid the foundation for African medical specialists.
  • He emphasized that no medical intervention can endure unless “we build the systems that sustain them.” 
  • Shettima expressed delight in the excellence embodied by the AMCE facility.

“We have laid the foundation for African medical specialists who will no longer be exported but empowered,” he said, highlighting a shift from “Japa” (leaving the country) to “Japada” (returning to the country).

In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the AMCE is a wonderful edifice that cost at least $400 million, mobilized through investments involving the private sector.

  • He stressed that this development signifies a huge investment in Nigeria and Africa.
  • According to him, the partnership surrounding AMCE will improve Nigeria’s foreign exchange earnings and reduce the cost of exit and exodus of highly skilled medical staff trained in Nigeria.
  • He said this will boost Nigeria’s economy and provide one-stop medical care for patients.

The CEO of the African Medical Centre of Excellence (AMCE), Brian Deaver, assured that patients will experience a new standard of care defined by excellence.

“We thank Afreximbank not only for financing this transformative project but for believing that Africa deserves not just good, but great healthcare,” he said.

  • He also thanked the Federal Government of Nigeria for its unwavering support throughout the journey.

Sharing further insights on AMCE, in an interview with newsmen, the Managing Director, Export Development, Afreximbank, Ms. Oluranti Doherty, said while the total investment cost for the AMCE is $300 million, the federal government’s comment on $400 million cost associated with the facility,  “was in reference to the expansion of the next project that we are undertaking”. 

  • She added that the AMCE expansion involves a research institute,  medical offices for medical practitioners across the country who want to have their offices in AMCE and make use of this facility.
  • She added that it also involves a hotel component for people who have their families and plans to develop a medical and nursing school, which should complement the facility.
  • She added that the AMCE project will be replicated in other regions.

 What You Should Know 

Recall that the Secretary to the Government of the Federation, Senator George Akume, previously stated that “cutting-edge medical services” are expected following the planned launch of the AMCE in Abuja in June 2025.

  • Construction of the 500-bed AMCE in Abuja began in 2022, following a groundbreaking ceremony in December 2021 by former President Muhammadu Buhari.

Benedict Oramah, President of Afreximbank and AMCE Board Chairman, delivered a moving tribute titled “From One Life to a Journey of Many Lives” on November 25, 2024, highlighting the transformational vision behind the AMCE and emphasizing its potential to provide accessible, high-quality medical care across Africa.

  • He also paid a heartfelt tribute to Prof. Mufti, a globally celebrated hematologist and Clinical Advisor for the AMCE project, for his dedication to healthcare innovation and education.
  • As highlighted by several government officials, the medical site joins other positive investments on Nigerian soil.

Nairametrics previously reported that the AMCE is a $300 million investment led by Afreximbank in partnership with King’s College Hospital, London.


Follow us for Breaking News and Market Intelligence.
Tags: Afreximbank BOI $75M Healthcare Financing NigeriaAfrican Medical Centre of Excellence AbujaAMCE Partnership King’s College London AfreximbankKashim ShettimaNigeria Healthcare Manufacturing InvestmentPresidential Initiative for Unlocking the Healthcare Value Chain
Nnaemeka Onyekachi

Nnaemeka Onyekachi

My name is Nnaemeka Onyekachi, a writer, public speaker and an award winning journo with over 5,000 reports on a wide range of topics associated with the Nigerian society and the international community. Currently serving as a Senior Editorial Analyst at Nairametrics, my passion lies in delivering insightful financial,corporate, economic news and analysis on foreign relations, governance, judiciary and legislature.

Related Posts

Nigeria rules out nuclear weapons pursuit, says focus is on addressing poverty and climate change 
Business News

Nigeria rules out nuclear weapons pursuit, says focus is on addressing poverty and climate change 

July 7, 2025
Cocoa Price
Commodities

Cocoa settles below $9K per ton as Nigeria plans to boost Chocolate Production

June 25, 2025
Tinubu commissions African medical centre, says Nigeria has secured over $2.2 billion for health sector reforms 
Health

Tinubu commissions African medical centre, says Nigeria has secured over $2.2 billion for health sector reforms 

June 5, 2025
FG Promissory Notes rise to N1.65 trillion, up 114% in one year under Tinubu 
Business News

President Tinubu approves N2 billion for resettlement of flood victims in Niger 

June 4, 2025
Nigeria partners UNICEF to train 20 million youths in digital skills by 2030 
Sectors

Nigeria partners UNICEF to train 20 million youths in digital skills by 2030 

June 3, 2025
AfriGO announces a groundbreaking “First” – Upgraded AfriGO settlement process for instant credit to POS Merchants
Agriculture

Nigeria can earn $50,000 per tonne by processing cocoa into chocolate bars -Shettima  

June 3, 2025
Next Post
Lagos Govt receives three new train sets for Blue Line Rail 

Lagos Govt receives three new train sets for Blue Line Rail 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document
  • Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC
  • Oyo State approves N7.7 billion for two surveillance aircraft to combat insecurity 

Follow us on social media:

Recent News

IGP prosecutes Nigerian businessmen over alleged N13.5 billion forex fraud dispute  

IGP sues Abu Arome, 3 Ghanaians over alleged forgery of company shares allocation document

July 9, 2025
Nigeria’s gas flare commercialisation programme could unlock $2.5 billion investment – NUPRC 

Nigeria’s oil rig count rises to 46 in July 2025 – NUPRC

July 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics