By Doris Obinna
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has upgraded its short-term loan solution within the healthcare value chain.
This upgrade ensures a flexible repayment period, with affordable interest rate and zero collateral to enable sector players access better financing and achieve optimal service delivery.
The healthcare short-term loan, which now offers a longer tenor of 12 months, affordable interest rate and zero collateral will foster more investment in the sector and enhance strategic relationships to generate new businesses.
Speaking at the Medic West Africa Conference, Head, Specialised Sectors, Stanbic IBTC Bank, Jane Ike-Okoli, noted that effective collaboration between the financial institutions and healthcare organizations is key to advancing Nigeria’s health sector.
She advised financial institutions to be more intentional about complementing the government’s efforts.
According to her, despite Nigeria being Africa’s largest healthcare market, challenges in the health sector include inadequate healthcare infrastructure and insufficient financing.
Babatunde Akindele, Head, Coverage, Commercial Clients, said: “Healthcare is a basic need that everyone should access easily. The pandemic has increased the pressure on the health sector by revealing the urgent need to expand healthcare facilities.”
The growth of the Nigerian healthcare sector rests on impactful and innovative finance solutions positioned to create a level playing field for businesses to thrive. Stanbic IBTC said it remains committed to blazing the trail in this regard.