The Chief Executive of the African Union Development Agency (AUDA) - New Partnership for Africa's Development (NEPAD), Nardos Bekele-Thomas says the private sector holds the key to transforming healthcare in Africa.

“The private sector is an untapped powerhouse capable of revolutionizing our healthcare landscape" she noted.

Madam Bekele-Thomas added, “It’s time for a paradigm shift—where private sector contributions are no longer ancillary but central to our health strategy”.

She was speaking at the High-Level Panel on Private Sector Investment in Healthcare and Scientific Research of Africa’s Health Economy.

Healthcare investments in Africa

She revealed that in Kenya, health expenditures have risen to 5.7% of GDP, while in South Africa, it stands at 8.1%. Despite these efforts, many regions still suffer from inadequate healthcare facilities and personnel.

“For instance, Nigeria spends about $10 billion annually on health, yet struggles with a doctor-to-patient ratio far below the WHO [World Health Organisation] recommendation” Madam Bekele-Thomas added.

The High Panel Event and Healthcare financing  

The event brought together key stakeholders to explore the role of the private sector in advancing Africa's health and education sectors.

It also aims at reinforcing the role of the African private sector, promoting strategies and partnerships that enhance health outcomes, drive innovation, and support the industrialisation of Africa's health economy.

According to the organizers, it is aimed at fostering collaboration between private enterprises and public institutions, and seeks to develop sustainable solutions to address the continent's unique challenges and capitalize on its vast potential.

Madam Bekele-Thomas noted that the continent must work to address the substantial needs in terms of investments for capacity-building, training more doctors and nurses, ensuring the availability of medicines and vaccines, and establishing local manufacturing of medicines and health devices.