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Report: Healthcare in Africa

Report: Healthcare in Africa

Healthcare financing remains the biggest hurdle towards quality and accessible healthcare in Africa, reveals Knight Frank.

As Africa continues to grow, improving the health of people living on the continent remains the key to unlocking economic development and wealth.

Whilst significant strides have been made in Africa’s healthcare provisions, healthcare financing remains the greatest hurdle towards quality and accessible healthcare on the continent.

According to the World Health Organisation, Africa shoulders 24% of the global disease burden and yet only accounts for only 1% of the global financial resources for health.

The UN Economic Commission for Africa further notes that although the private sector accounts for 50% of healthcare expenditure, African Governments currently grapple with an annual financing deficit of $66bn for primary healthcare.

Significant disparities exist in terms of healthcare funding by African Governments, with the majority continuing to fall below par of the 2001 Abuja declaration which sought up to 15% of GDP allocated to healthcare spending.

The sizeable gap for healthcare infrastructure and increase in urbanization, creates a demand for additional healthcare facilities.

This can be an opportunity for the private sector to step in and invest in sub-country (level 4) hospitals with a typical size of 50-70 beds to be able to reach wider catchment in the community level.

Opportunities spanning the entire human lifecycle abound for both small and large market participants, such as private investors, institutional funds, real estate developers and healthcare operators, to enter the sector.

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