ECA and ABCHealth Host African Summit on Investment in Health | The Guardian Nigeria News
The United Nations Economic Commission for Africa (ECA), the Coalition of African Businesses for Health (ABCHealth) and the National Institutes of Health (NIH) will host a virtual summit on September 20 today. Investment in Africa for Health 2021 (AIS) on the sidelines of the 76th United Nations General Assembly.
The summit will bring together African heads of government and ministers, continental, regional and global business leaders and development institutions to discuss strategies that will dramatically increase access to vital health commodities and supplies in Africa by leveraging African Continental Free Trade Agreement (AfCFTA) and African Medicines Agency (AMA).
Regarding the partnership, Aigboje Aig-Imoukhuede, President of ABCHealth, said: “We are convinced of the impact this partnership will have on the continent. We strongly believe that with the collaboration of the public and private sectors, combining political will and business knowledge, the health sector in Africa can be built to the point where it will provide affordable health care to Africans in an equitable manner. .
Vera Songwe, Executive Secretary of ECA, said: “Investing in health is not only a social good, it is also a good business case. Before the COVID-19 pandemic, business opportunities in the health and wellness sector in Africa were estimated at $ 259 billion by 2030, with the potential to create 16 million jobs.
The pharmaceutical industry alone was estimated at US $ 60 billion in 2020 and continues to grow. The Pharmaceuticals Initiative anchored in AfCFTA represents lucrative opportunities for private sector investment and innovation that will change lives, reduce poverty and contribute to inclusive and sustainable economic development in Africa.