African Export-Import Bank (“Afreximbank”) (www.Afreximbank.com) has availed Horizons Clinic (Gambia) Limited a tailored US$16.8 million (Sixteen million, Eight Hundred Thousand United States Dollars) Construction and Medical Tourism Relay Facility (“CONMED”). The facility will support the construction of Horizons Clinic, a 60-bed, international standard, medical facility set to significantly improve the healthcare system in The Gambia.
Sponsored by Horizons Clinic (Gambia) Limited and located in Kerr Serign, Kombo district, the establishment of Horizons Clinic marks a major milestone in delivering world-class healthcare services to The Gambia and neighbouring countries.
The project will create over 150 temporary jobs during the construction phase in addition to about 300 permanent jobs upon completion — for clinical and non-clinical staff, and 30 indirect jobs for suppliers of hospital consumables, technical spare parts, cleaning services, and other local businesses.
This transaction represents Afreximbank’s largest private sector investment in The Gambia. The project is also supported by Guangxi International Construction Engineering Corporation (Gambia) Limited and Bloom Bank (Gambia) Limited.
Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank (“IAED”), Afreximbank said: “We are proud to support the construction of Horizon Clinic, a project that will revolutionize the healthcare landscape in The Gambia and create job opportunities for the local community. By investing in specialist medical services, Horizons Clinics will provide high quality healthcare to Gambians and other nationals, addressing the significant gap in available healthcare services. This investment underscores our dedication to fostering private sector growth and improving healthcare infrastructure across Africa while ensuring that we promote medical tourism in Africa.”
Horizons Clinic Gambia Limited Board Chairman, Mr. Alpha Barry, noted: “Today heralds a new era in healthcare for The Gambia. The establishment of the Horizons Clinic, through the unprecedented support of Afreximbank and other esteemed partners, is a testament to our collective vision of transforming The Gambian health sector. This will not just be a building, it will be a beacon of hope and a promise of quality healthcare for all Gambians, as well as a model for other African countries. As we reflect on the remarkable journey of the Horizons Clinic and its transformative impact on healthcare in The Gambia, it is imperative to salute the extraordinary tenacity of Professor James N’Dow. His unwavering dedication, visionary leadership, and relentless pursuit of excellence have been the driving force behind this monumental project.”
According to The World Health Organisation (WHO), Gambia’s current bed-to-population ratio stands at 1.1 per 1,000 people as against the WHO’s recommendation of 5 per 1,000 people.
Distributed by APO Group on behalf of Afreximbank.
Media Contact:
Vincent Musumba
Manager, Communications and Events (Media Relations)
Email: press@afreximbank.com
Tel: +20 2 24564100 /1/2/3
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.Afreximbank.com