Expert calls for increased investment in Africa’s health sector

An international governance and development expert, Mr Tagbo Agbazue,
has called for increased private sector investment in Africa’s health sector to attain Universal Health Coverage (UHC) in the continent. Agbazue made the call in an interview with Newsmen on Wednesday in Abuja.

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The development expert’s response followed a two-day African Leadership Meeting (ALM) in Lusaka with the theme: “Private Sector Investment in Health and Health Financing.”

The ALM is a high-level meeting organised by the African Union Development Agency-NEPAD (AUDA-NEPAD), in partnership with the African Union Commission, World Health Organisation, UNAIDS and other global and continental partners.

Agbazue explained that the participants at the meeting agreed to enhance private sector investment in health for African citizens, as well as the continent’s long-term growth, sustainability and competitiveness.

He added that health sector investment was important to preclude the growing loss of African capital through medical tourism, while providing
Africans with timely access to sophisticated medical treatment and opportunities for job creation.

He said, “private sector involvement in health systems is growing in scope and it includes the provision of health-related services,
medicines and medical equipment and products through manufacturing, financial products and training for the health workforce. Many of these activities provide opportunities for economic growth through job creation for Africa’s growing youthful population.”

He also added that experts at the Lusaka meeting recommended that strengthening the environment through policy, legislation and
regulation for supporting private sector investment in health was crucial.

“Governments need to provide the requisite infrastructure and logistics such as road networks, energy and electricity, ensure
long-term integrated national sector-specific strategies for the health-sector. This should be with clear roles for the private sector that don’t change with each in-coming minister or administration. Also, incentive programmes for private sector investment in health like access to land, tax breaks, subsidies, interest rates should not be abused. Governments should also provide opportunities for public-private sector dialogue; promote Public-Private-Partnerships (PPP) and joint initiatives such as government social health insurance and private insurance working collaboratively. The private sector investment in health will also provide jobs for young people and women.”

On the role of the private sector to the attainment of UHC, he said said that compliance with legislations, regulations and policies were highly essential.

“Private sector in health should focus on people, planet and profits, involvement in government planning with opportunities for public-private sector dialogue. There is also the need for joint initiatives, innovation that contextualises global best practice to suit local realities to obtain world-class results. The private sector should ensure commitment to growth in the long-term and avoid rent seeking and corrupt practices and ensure business-to-business platforms, including south-south and south-north.”

The expert also said that Development Finance Institutions (DFIs) and banks should lend a hand by developing financial products and facilities for private sector investment in health. This, he said, should include equity, grants and facilities and good de-risking/insurance instruments.

Agbazue said that the timing of the ALM was perfect, as it set the stage for consultative meeting for Central and Western Africa to be held in Abuja in January 2024.

He also said that the Kigali Health Conference, scheduled for February 2024 with the theme “Sustaining the HIV Response through Financing and Investing in Africa’s Health Systems for Improved Health Security on the Continent,” would be informed by the recommendations of these meetings.

NAN/Wumi