HERITAGE Bank Plc announced its partnership with AFRICANMED and the Chinese community in Nigeria in a bid to help at developing the country’s health sector and curbing the rate of medical tourism by Nigerians.
Managing Director/Chief Executive Officer, Heritage Bank, Ifie Sekibo disclosed this at the maiden edition AFRICANMED exhibition of top brands of medical equipment from China in Lagos recently, said there is an urgent need to reduce the huge foreign exchange which Nigerians spend every year on medical tourism.
He explained that Heritage Bank would find it easy to provide finance for interested buyers of the medical equipment from China because it already has a robust correspondent banking relationship with Deutsche Bank of China and Access Bank of China. The relationship, he said, would enable Heritage Bank to seamlessly open letters of credit for interested buyers.
Olugbenga Awe, Group Head, Agriculture and Export, Heritage Bank, who represented Sekibo, said since some of the equipment cost millions of dollars, the bank would not expect the buyers to tie down such heavy amount of money, adding that the bank will support interested buyers with robust loans that will enable them to acquire the equipment and pay back over a period of two years.
AFRICANMED was recently set up in Nigeria to aggregate top brands of Chinese medical equipment and healthcare solutions provider companies.