…99.9 percent of inputs are imported for manufacturing of pharmaceutical products – Sir Orimadegun Agboade
Written by Olushola Okunlade
Stanbic IBTC Bank Limited, a leading financial institution in Nigeria and a trusted thought leader in the healthcare domain has engaged stakeholders in the healthcare sector for solutions, and opportunities to empower private sector players to drive structured improvement through strategic capital injections at its inaugural healthcare breakfast session today in Lagos.
The event theme “The Business of Healthcare: Challenges and Opportunities,” offers product opportunities and solutions to stakeholders in the health sector for strategic partnerships, and collaborations with the collective goal of catalyzing positive transformation within Nigeria’s healthcare sector.
The healthcare sector has faced several challenges, which have been exacerbated by rising costs, changing demographics, shortage of clinicians and healthcare professionals, quality of care and transparency in practices, access to finance, access to healthcare services and patient centricity is considered major challenges that impact healthcare industry today.
The two panel sessions fully addressed how healthcare stakeholders can leverage opportunities and product solutions with affordable and responsible interest rates that are suitable for importation while the bank emphasizes its readiness to partner and collaborate for continuity of businesses.
The bank said the products are easily maintained in terms of payback, comprising the start and finishing funds while speaking on trade finance, importation challenges for Forex solution (FX) to avoid excess cross border payment, short terms loan for importation of machinery and medical equipment are available.
Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC in his statement said” Today, we gather here to connect innovators, disruptors, and change-makers that are shaping Nigeria’s healthcare landscape.
He said “In the spirit of driving Nigeria’s growth, Stanbic IBTC Bank has continued to avail credit to healthcare entities, thereby supporting hospitals, pharmaceutical firms, HMOs, and diagnostics centers nationwide. We are very passionate about wellness in the communities we serve, and we throw our weight behind the health sector in Nigeria. Healthcare providers are to explore our tailored offerings that are designed to fuel your aspirations. We are confident that technology and financing innovation can improve healthcare access, even in the face of macro challenges. We are committed to supporting your visions.”
Sogunle stated that advancing Nigeria’s journey to universal health coverage, improving standards of living, as well as reducing outbound expenditures that arise from medical tourism, as we unearth opportunities for collaboration and strengthen the healthcare value chain for sustainable progress is the major target of Stanbic IBTC Holdings PLC.
The experts panel comprises prominent industry personalities that include Mrs. Fola Laoye, CEO of Iwosan Investments Limited; Mr. Charles Ogunwuyi, CEO of Sygen Pharmaceuticals Limited; Dr. Abayomi Sule, Founder and Managing Director of Tillit MSME Microservices, Nigeria; and Pham. (Mrs.) Mary Ogangwu, COO of Codix Pharma Limited.
Sir Orimadegun Agboade, Managing Director Orfema Pharmaceuticals Limited said there is need for the bank to open windows that are suitable for the importation of inputs for pharmaceutical products because 99. 9 per cent of raw materials are imported and getting forex exchange to soften importation challenges.
The hybrid event hosts healthcare business owners and providers, including hospitals, laboratories, diagnostic centers, dispensing pharmacies, renewable energy providers as well as distributors and suppliers of medical equipment and products.
