The high-level closed-door roundtable on innovative health financing in Nigeria convened over 40 leaders from the public sector, development finance institutions (DFIs), capital market, banking, private healthcare, health insurance, civil society organizations, and investment firms to examine “The Business Case for Investing in Africa’s Health Sector”, with particular focus on Nigeria.
The discussions were anchored on a shared recognition that Nigeria’s health system faces a structural financing challenge. These include insufficient public expenditure in healthcare, dwindling donor financing, and high level of fragmentation within the sector leaving many small healthcare facilities unable to access finance.
A central outcome of the roundtable is the consensus that healthcare should no longer be framed only as a social initiative, but as a strategic economic enabler capable of generating jobs, innovation, domestic manufacturing, foreign direct investment, and long-term productivity gains.
In addition, the session converged on the need to aggregate demand and promote value chain integration to support SMEs in the health sector. Health insurance was repeatedly identified as a critical mechanism for transforming fragmented out-of-pocket payments into predictable and guaranteed offtake, which would encourage more private investment.
Participants also called for risk-sharing and guaranteed mechanisms to enhance access to funding for SMEs. It was noted that most healthcare providers are small businesses that lack collateral, formal governance, reliable accounts, and investor-ready documentation.
Next Steps: Future Perspectives will convene follow-up discussions with participants and partners to evaluate the most viable financing instruments and advance a coordinated roadmap for healthcare investment in Nigeria.
“We need to address how to fund healthcare in Africa and in particular Nigeria. Government spending just can never be enough.
Healthcare is currently mostly funded by out-of-pocket expenditure, and the hope is to explore how to finance healthcare through innovative mechanisms.”
- Prof. Yemi Osinbajo
Keynote & Guest Speakers
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Dr. Abdu Mukhtar
Keynote Speaker “We need a convening, a roundtable for African business leaders to discuss financing the health sector because the solution to healthcare financing in Nigeria and in Africa will have to come from within Africa, from within Nigeria and cannot continue to be from outside.”
National Coordinator - Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC)
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Serah Makka
“Today’s conversation is really not about whether the healthcare sector needs capital, it is about how we mobilise capital. It is not a talk shop, as the intention is to leave the room with practical instruments. The objective is practical pathways and a focus on tangible solutions.”
Executive Director, Africa - ONE
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Dr. Tolulope Adewole
“We talk about healthcare and finance, but the question is which side are we talking about? There are two sides to every economy. A lot of the time, we concentrate on the supply side, but the bigger problem sits with the demand side, and until that is addressed, the challenges that we see in the whole ecosystem will remain.”
MD/CEO - MedServe
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Jumoke Olaniyan
“Financials must be ready and clear and there must be ratings, and that will be a useful factor for disclosures for investments and capital markets. . Any entity that is health-based and wants to raise funds from the capital market must have ratings. The instruments exist, the framework exists, the structure exists, the need exists.”
Group Chief Strategy Officer - Nigerian Exchange Group (NGX)
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Dapo Akisanya
“There is also a class of investors willing to support healthcare initiatives, but many are yet to find the right platforms through which to invest. In terms of solution, I want us to start thinking on impact investment and blended financing. There is an ecosystem of investors who desire to finance healthcare. Hence the need to structure the type of investment to attract them.”
Executive Director - AfyA Care
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Bolaji Balogun
“Healthcare financing requires permanent capital and termed financing, which means it is not a banking market issue and not a foreign currency investment. Blended financing is fundamentally important; capital markets are most fundamental as they represent the investible capital.”
CEO - Chapel Hill Denham
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Chishamiso Mawoyo
“So, while there are challenges, we also see opportunities, and for us as investors, we see the need to change our stance and become involved in different ways and present instruments that are appropriate and relevant for the current landscape, so that we remain impactful.”
Senior Investment Officer - International Finance Corporation (IFC)
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Yemi Asekun
“A key outcome from this roundtable is that capital always follows capacity and management. Other important points include the need for a unified platform to address healthcare financing in Nigeria, the need for clearly defined return pathways for prospective investments, the importance of local currency-denominated funding in healthcare.”
Co-Founder - Future Perspectives
Roundtable Contributors
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Njide Ndili
President Healthcare Federation of Nigeria
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Dr. Gambo Aliyu
Director Skyda Health
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Dr. Egbe Osifo-Dawodu
Founding Partner Anadach Group
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Yemisi Akinbo
Principal African Capital Alliance
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Tunde Mabawonku
Executive Director Wema Bank
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Dr. Olumide Okunola
Senior Health Specialist World Bank Group
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Jubril Enakele
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Wole Onasanya
Group MD/CEO Coronation
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Kayode Odeyinde
Co-Founder/CEO Rigo
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Dr. Hameed Obani
Head Of Standards & Quality Assurance National Health Insurance Authority (NHIA)
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Ekenem Isichei
Deputy Director Gates Foundation (Nigeria)
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Yomi Sule
MD/CEO Tillit
