The United Nations Economic Commission for Africa (ECA) and the African Business Coalition for Health (ABCHealth) have signed a partnership to improve health delivery in Africa. The two institutions will develop two key initiatives: The Healthcare and Economic Growth in Africa (HEGA 2) report; and the West Africa (AfCFTA)-anchored Pharma Initiative.
The ECA and ABCHealth will jointly execute both initiatives. The basis of the partnership is that every African has an undeniable right to quality, accessible and affordable healthcare.
Also, the ECA pointed out that the negative impacts of the COVID-19 pandemic have demonstrated the relationship between health and economic growth. According to the ECA, governments’ efforts on health require more private sector involvement.
Meanwhile, the Healthcare and Economic Growth in Africa (HEGA 2) is a follow-up to the HEGA 1 report. More specifically, the HRGA 1 analysed a strategic direction for African countries to better engage with the private health sector. The rationale for this engagement is to accelerate improvements in health. Also, it examined Africa’s healthcare challenges and highlighted opportunities for the private sector.
HEGA 2 aims to leverage innovation and extend the focus on building resilient national health systems in a post-COVID-19 era. The publication will offer robust evidence-based policy solutions to strengthen and build resilient healthcare and health infrastructure on the continent.
Benefits of the partnership
The West Africa AfCFTA-anchored Pharma Initiative is the blueprint for the local production of drugs and medical equipment across West Africa. The initiative focuses on strengthening the supply side of West Africa’s health sector.
As a result, it will mobilize investment and capital to develop domestic production of internationally accepted standards and quality. This initiative is an extension of ECA’s collaboration with the Intergovernmental Authority for Development (IGAD) and selected countries. It involved advocacy for local production of maternal and childcare medicines. It also ensures regulatory harmonization and quality standards of medicines and products.
Key among the people who shared their views on the partnership was Aliko Dangote, Co-Founder of ABCHealth. He hailed the coalition that ABCHealth is building across the continent. According to him, it will create a platform for business leaders and philanthropists to “make sustainable, large scale investments in health”. This, he said will help “transform African economies and people”.
Also, Aigboje Aig-Imoukhuede, ABCHealth Chairman, said “we are confident of the impact this partnership will bring to bear on the continent”. He highlighted that collaborative effort between the public and private sectors and political will is of enormous benefit to health in Africa.
According to him, this will help build Africa’s health sector “to the point where it will deliver affordable health to Africans in an equitable manner”.
Value of the pharmaceutical industry
“Investing in health is not just a social good, it also makes a good business case”, said Vera Songwe, ECA Executive Secretary. She revealed that the business opportunities in the healthcare and wellness sector in Africa are enormous. According to her, these opportunities were estimated at $259 billion by the year 2030, with the potential to create 16 million jobs.
The pharmaceutical industry alone was estimated at US$60 billion in 2020 and is still growing. Also, Ms. Songwe stated that the AfCFTA-anchored Pharma Initiative represents lucrative private sector investment and innovation opportunities. This, according to her, “will change lives, reduce poverty and contribute to Africa’s inclusive and sustainable economic development”.
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