President Julius Maada Bio has catalogued major investment opportunities in the healthcare sector in Sierra Leone at the EU-Africa Summit in Brussels.
In an address at one of the first sessions of the summit in Belgium, Bio said accessible and quality healthcare is central to his government’s development commitment, with an emphasis on universal health coverage built on the backbone of accessible primary health care. Healthcare, the president said, is fundamental to the successful attainment of the goal of his human capital development.
Bio’s statement, a copy of which was shared by State House via social media, was one of four keynote addresses delivered at the session dubbed, ‘African Leaders for Change: Promoting Universal Healthcare. It was organized by the European Corporate Council of Africa and the Middle East on Thursday.
President Bio said that his administration had embarked on a series of reforms, including increasing investment and expansion of primary healthcare facilities, all of which resulted in gains that require further investment to sustain them.
Bio cited the COVID pandemic as having had severe impact on the country’s finances, making it difficult to maintain increasing levels of public expenditure on public healthcare.
“With dwindling public healthcare financing and the attendant poor management, and poor provision of healthcare services, we may be unable to assure our citizens health security at affordable costs,” he said.
President Bio added that the challenge in the sector could be turned to opportunity with the appropriate investment options, noting that 56% of Sierra Leoneans were willing to spend on their healthcare if they were assured of receiving high-quality services.
He said that a viable investment option is through public-private partnership, which several projects undertaken by his government have proven to be effective.
“The private sector brings in capital investment and management efficiencies and flexibilities. The net outcome is quality service delivery to citizens at affordable prices” he said.
Among the areas Bio put forward for consideration by potential investors are pharmaceutical manufacturing, nutritional supplement manufacturing and ambulance services. He also proposed possible investment in the government’s cost recovery pharmacy services, which was piloted as part of a scheme to transform Sierra Leone’s main referral hospital – Connaught.
Bio also called on investors to look into building more modern health facilities and the possibility of venturing into health insurance.
This year’s EU-Africa Summit is the sixth edition of the meeting that brings together leaders from the Africa Union member countries and their European Union counterparts to discuss mutual development interests.
At least 40 heads of state and government from Africa were expected to attend the two-day event that concludes on Friday, February 18.
The Summit comes four years since the last one in Abidjan, Cote d’Ivoire.
Officials from both sides have described the summit as representing a unique opportunity to redefine Europe-Africa relations.
Among the issues for discussion are challenges of climate change, the general healthcare in Africa, Covid-19 vaccines and security, all of which are key in the Joint Africa and European Union Strategy.
Ahead of the summit, the EU announced a $170 billion worth of financing package for Africa to go into investment in these sectors as well as transport and economic integration.
President Bio and his delegation comprising cabinet minister s are expected to return to Freetown on Saturday.
