Why Healthcare Financing?

The credit financing culture in most African countries including Nigeria is still underdeveloped and a considerable number of medical practitioners and owners of medical establishments are highly suspicious about the motives of credit finance organisations.

Nigeria 's economy for example is predominantly a 'cash and carry economy', which hinders growth and productivity since consumers' participation in economic activities is limited by the amount of cash available in the system.

The closely knit nature of the society and the extended family structure help to provide some sort of support in the short term, for financially distressed businesses, however this option is not practicable for long-term investments like healthcare. This fact has also contributed to the apparent lack of interest of the financial institutions to support healthcare businesses.

Initial assessment of data collated via one-to-one direct marketing to hospitals and clinics within the Agege/Ketu area of Lagos State of Nigeria has revealed that there is an immense demand for this kind of service. A number of clients have expressed joy and gratitude about the entrance of a dedicated finance provider into the healthcare sector and the same favourable sentiments have been echoed by professional bodies in Nigeria e.g. Nigeria Medical Association (NMA) and the Pharmacy Council of Nigeria (PCN).