Abuja: Nigeria and other African countries are losing substantial financial resources annually to medical tourism, according to the African Export-Import Bank (Afreximbank). Speaking at the 32nd Afreximbank Annual Meetings (AAM2025) in Abuja, Afreximbank's Export Development Managing Director, Mrs. Oluranti Doherty, highlighted the significant economic impact of this trend on the continent.
According to News Agency of Nigeria, Doherty emphasized that Africa forfeits approximately $7 billion each year due to medical tourism, with Nigeria alone contributing $1.1 billion to this outflow. She pointed out that the loss of foreign exchange to other economies for medical purposes is a major economic drain, as it could otherwise be invested in strengthening local healthcare infrastructure.
Doherty further noted that the capital outflow is not the only consequence; it also contributes to a 'brain drain' of skilled medical professionals who leave the continent for opportunities in countries such as India, Asia, the Middle East, and America. This migration of talent is a significant concern for the sustainability of Africa's healthcare systems.
In response to these challenges, Afreximbank initiated its Health and Medical Tourism Programme in 2012. A key outcome of this initiative is the establishment of the Africa Medical Center of Excellence (AMCE) in Abuja. The 170-bed facility, equipped with state-of-the-art technology like an 18 MeV cyclotron, a three-Tesla MRI, and a 20-bed ICU, represents a $450 million investment by Afreximbank to provide healthcare services that meet global standards.
Doherty praised the leadership and vision behind the AMCE project, stating that it reflects Afreximbank's role as an innovative financier and investor. She stressed the importance of building trust in local healthcare facilities to reduce the reliance on medical tourism and highlighted the need for equitable access to healthcare services within Africa to address this economic challenge.