Washington, DC — As the economies of various African nations continue to strengthen, and foreign direct investment rises, the private and public sectors in the U.S. and Africa are increasingly focusing their attention on the impact that current healthcare systems and their infrastructure have on the overall business investment climate in Africa.
The Corporate Council on Africa (CCA), in conjunction with its corporate and government partners, today announced its U.S. – Africa Private Sector Health Forum: The Private Sector—the Missing Piece in African Healthcare. The first of its kind conference will be held November 20-21 in Washington, DC, and is expected to attract more than 200 leaders from the private and public sectors in the U.S. and Africa, with interests in the latest developments and opportunities in private sector health-related industry investments.
Over the next decade, $25 to $30 billion in new investments will be needed in health care assets, including hospitals, clinics, and distribution warehouses, to meet the growing health care demands of sub-Saharan Africa. It is estimated that the market for health care will more than double by 2016. With a total health expenditure of $16.7 billion in 2005, roughly 60 percent—predominately out-of-pocket payments by individuals—was financed by private parties, and about 50 percent was captured by private providers.
“A healthy workforce is an essential component to any nation’s commercial and economic growth formula,” said CCA Board Chair and Merck & Co., Inc., Vice President of Corporate Responsibility Dr. Jeffrey L. Sturchio. “The nations of Africa are no exception. The conference will highlight the health sector as a viable investment opportunity for U.S. and African companies, and provide a forum for industry leaders to explore the most innovative practices in private sector investment on the continent.”
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Central themes of the two-day conference include medical franchising; pharmaceutical manufacturing; medical technology sales; pharmacology and biotechnology; supply chain management and pharmaceutical sales; private healthcare facilities; e-health solutions; innovative financing mechanisms including leveraged partnerships, risk pooling and health insurance; policy and regulatory incentives and social entrepreneurship. Speakers will include industry experts from various countries including the U.S., Kenya, Nigeria, Tanzania, Uganda, Ethiopia, Ghana and South Africa.
To date, conference sponsors include Abbott Fund; African Business; All Africa Global Media; Foster Trading Nigeria; Liberty Health Africa; Merck & Co., Inc.; New African; and the U.S. Agency for International Development.
For more information on the U.S. – Africa Private Sector Health Forum, including the latest conference program click here or visit www.africacncl.org.
Established in 1993, The Corporate Council on Africa is a nonpartisan 501(c) 3 membership organization of nearly 200 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. The organization is dedicated to bringing together potential business partners and to showcase business opportunities on the continent.
