Trivitron Healthcare | Company Profiles | Africa Outlook Magazine africaoutlookmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from africaoutlookmag.com Daily Mail and Mail on Sunday newspapers.
THE STANDARD By
Wainaina Wambu |
April 7th 2021 at 06:16:45 GMT +0300
[
Courtesy]
Healthcare provider AAR Health Care Ltd has begun winding up its Tanzania business operations, citing financial difficulties.
In a memo to staff, AAR Health Care Ltd Acting Chief Executive Officer Andrew Rowell said the firm had been facing financial difficulties “for some time” now, worsened by the failure of the national health insurance model in Tanzania, the pandemic and a decline in traffic to their clinics.
“The company’s parent firm, AAR Health Care Ltd as a major creditor to the company, is no longer willing to support the financial requirements of the company and it is on this basis that the board has resolved to initiate a creditor’s voluntary winding-up process,” he said.
The Covid-19 emergency has focused minds on the urgent need for improved healthcare across Africa, aligning unprecedented opportunity for positive social impact with competitive returns.
Image suppliedIn Nigeria, Africa’s biggest economy at $495bn, public spending on healthcare amounts to just 3.75% of GDP, compared with 4.8% in Kenya, 8.11% in South Africa and 13.42% in Sierra Leone. Outside of the continent, Brazil spends 9.47% and the United States 17%, based on latest available figures from the World Bank.
A massive $82bn investment in healthcare real estate assets ands an additional 386,000 additional beds are required to bring Nigeria in line with the worldwide average of 2.7 beds per 1,000 people, according to a Knight Frank’ report. The country needs an additional 4,000 beds and an investment of $870m just to keep up with its 2019 bed ratio, given population growth. With 206-million people, Nigeria’s population is forecast by the United Nations to almost double by 20