The Managing Director and Chief Executive Officer of FCMB, Yemisi Edun. Photo: FCMB
FCMB has committed N20bn to finance private healthcare businesses in Nigeria as part of efforts to improve access to long-term capital for operators across the sector.
The bank said in a statement on Thursday that the N20bn Healthcare Fund was announced at its inaugural healthcare summit in Lagos, saying the financing will target hospitals, clinics, diagnostic centres, pharmaceutical companies, pharmacies, maternity homes and other healthcare enterprises.
According to FCMB, the fund will support business expansion, the purchase of medical equipment, infrastructure development, working capital and technology investments.
The initiative comes as the Federal Government seeks to expand healthcare capacity and increase local production of medicines and medical devices. Under the Presidential Initiative for Unlocking the Healthcare Value Chain, the government aims to achieve 70 per cent local production of medicines and medical devices by 2030.
