January 10, 2019 – Addis Ababa, Ethiopia: Top African leaders including Heads of States, Ministers, CEOs as well as representatives from the African Union and United Nations will converge at the inaugural Africa Business: Health Forum (AB:HF) taking place in Ethiopia on 12th February 2019 on the margins of the 32nd African Union Summit.
The forum will unify Africa’s key decision makers in exploring opportunities for catalyzing growth in the continent’s economy, through business partnerships to invest in the health sector.
The inter-relationship between the health of employees and economic growth is increasingly taking center stage in many African countries, and business is being pushed to exploring how to maximize shareholder value as a complex interplay between financial, human, social and environmental return.
African business entrepreneurs are waking up to the reality that good health is good business, and investing in health is both a business and social imperative with studies showing that by 2030, business opportunities in health and wellness sector will reach $1.8 trillion in current prices.
Investing in African health systems is an opportunity to accelerate economic development and growth, contribute to saving millions of lives, prevent life-long disabilities, and move countries closer to achieving SDGs and Africa’s Agenda 2063.
“From a business standpoint, we are beginning to see the opportunities that could be created by focusing on improving and investing in health.” says Aigboje Aig-Imoukhuede, a renowned financier and Co-Chair, GBCHealth. He added; “There is a need to close the gap on the inequality of life in Africa from a healthcare standpoint and we must look to develop a universal plan that shifts the needle as far as healthcare in Africa is concerned. Health must cease being a source of pain, and become a source of prosperity instead.”
The AB:HF is the vision of GBCHealth, United Nations Economic Commission for Africa (UNECA), and Aliko Dangote Foundation, with the objective of driving business leadership, strengthening partnerships, and facilitating investments to change the face of healthcare in Africa.
The forum will culminate in the launch of the African Business Coalition for Health (ABCHealth), a coalition that will mobilize a core group of private sector champions through a coordinated platform to advance health outcomes and shape health systems across Africa.
ABCHealth will serve as the regional platform to unlock synergies that will contribute more directly to a healthy and prosperous Africa, enabled by collaboration and business partnerships.
Reiterating the need for business leaders to key into this vision, Aliko Dangote, Group President, Dangote Group and Chairman, Aliko Dangote Foundation, said: “The best way to move Africa forward is for businesses to step up in health care and take bold action. We must work together, across industries and with governments and communities, to foster innovation and drive more strategic investments that benefit us collectively. The time is now for a new era of cooperation in Africa that will position its people, communities and businesses for success, now and in the future.” Good health is not only an outcome of, but also a foundation for, development.
Vera Songwe, Executive Secretary, UNECA said; “The Commission will play a role in the design and implementation of policy frameworks around the financing of healthcare through Public Private Partnerships and the private sector. Building on the African Continental Free Trade Area (AfCFTA), this will also encourage regional transboundary health investments especially in the pharmaceutical sector.”
Note to Editors:
Jerry Sawyerr, Weber Shandwick
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Africa Business: Health Forum (AB:HF) is a platform instituted by GBCHealth, United Nations Economic Commission for Africa (UNECA) and Aliko Dangote Foundation to broker private sector commitments to health across Africa.
GBCHealth is dedicated to leveraging the resources and expertise of the private sector to meet today’s most pressing health challenges. Founded in 2001, under the leadership of Ambassador Richard C. Holbrooke, GBCHealth has built a strong track record of mobilizing business action to address workplace and community health issues. Today, the organization works with a network of more than 300 organizations globally to drive partnerships and collective action in areas of greatest need.
Mr Aig-Imoukhuede has served on the GBCHealth Board since 2011 and is widely recognized as a successful entrepreneur, business leader and proponent of corporate social responsibility in the African business community.
About UN Economic Commission for Africa (UNECA)
Established by the Economic and Social Council (ECOSOC) of the United Nations (UN) in 1958 as one of the UN’s five regional commissions, ECA’s mandate is to promote the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa’s development. ECA also provides technical advisory services to African governments, intergovernmental organizations and institutions. In addition, it formulates and promotes development assistance programs and acts as the executing agency for relevant operational projects.
Made up of 54 member States, and playing a dual role as a regional arm of the UN and as a key component of the African institutional landscape, ECA is well positioned to make unique contributions to address the continent’s developmental challenges.
The ECA is headquartered in Addis Ababa, Ethiopia with offices in Rabat, Lusaka, Kigali, Niamey, Yaounde and Dakar.
About Aliko Dangote Foundation
Aliko Dangote Foundation is the philanthropic foundation of Aliko Dangote, Group President, Dangote Group, established with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. The foundation was incorporated in 1994 as a charity in Lagos, Nigeria and has since become the largest private foundation in sub Saharan Africa, with the largest endowment by a single African donor. The foundation has contributed over $250 million in charitable funds to several causes in Nigeria and Africa over the past four years.