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142 SOCIAL INFRASTRUCTURE Healthcare: a growing market Patients receive treatment in a maternity hospital renovated by oil company Royal Dutch Shell plc INvEST IN NIGERIA 2012-13
With improved national health as a key plank in reform, opportunities are opening up for private-sector involvement. Peter Guest talks to two investors confident about the future of healthcare in Nigeria As Nigeria’s professional class expands in step with the country’s economic growth, the demand for a higher standard of healthcare could create significant opportunities for investors. A 2008 McKinsey study for the International Finance Corporation found that, despite the widespread perception that healthcare across the continent is delivered by the international public sector, the reality is that for-profit businesses are already responsible for providing 50 per cent of healthcare services. Across the region, the total healthcare market is expected to rise to $35 billion by 2016, the study predicted. With sub-Saharan Africa’s second largest economy and largest population, Nigeria is poised to see a significant proportion of that growth. The rise of a large middle class in the country, driven by Nigeria’s economic growth and the presence of large corporate entities – both domestic and international – has created investment opportunities in consumer goods, telecoms and financial services. Those sectors have seen much wealth created, and investors have achieved significant returns as companies are expanding across the entire continent. However, the healthcare sector remains fragmented and dominated by small, independently owned operators. This situation leaves the sector ripe for investment, analysts said, with the increasingly wealthy middle class demanding a higher quality of care. More businesses are now offering health insurance as part of their employment packages, which is creating a ready-made market for investors. SOCIAL INFRASTRUCTURE 143 Peter Botha, chief executive of African Medical Investments (AMI), took over the company last summer and is looking to expand the business out of its core markets in Southern and East Africa by taking a stake in a private hospital in Lagos. AMI currently runs hospitals in Tanzania, Mozambique and Zimbabwe, and is on the verge of a deal in Angola. Botha believes that the model – providing access to high-quality service for a narrow range of common problems – can be transplanted to Nigeria. “There are private hospitals in Lagos. They are all doing well. What we have found is that they are all doctor-owned, and the doctors have reached the limits in terms of capitalising on the growth,” Botha said. “I think there’s an opportunity to go in, get a good brand in a good location, invest capital and then to refurbish and put in equipment.” The key to making Botha’s model work is an active health insurance industry. Botha himself ran two health insurance businesses in Nigeria’s commercial capital. While still in its early stages, the market is strong enough and growing fast enough to warrant an investment, he says. “It’s early stages, but it’s growing. If you take the relativity of the size of the population and its economy, it’s quite a big insurance market. Over the past few years that insurance market has grown dramatically, and it will support a private hospital.” Rather than seeking to develop capability to handle the most complex cases – such as cardiovascular illnesses – AMI’s model works by focusing on treating the most common requirements of company employees and their families. These include obstetrics and gynaecology, paediatric medicine, trauma care and basic surgery. “In general, people who are working for a local company in a place like Lagos are demanding private hospital care for delivering their babies, looking after their children, treating their trauma and their casualties and their accidents first,” Botha says. INvEST IN NIGERIA 2012-13
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Invest in NIGERIA 2012-13 Published
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Mubadala is an investment and devel
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Invest in NIGERIA 2012-13 Editor La
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Trade Facilitation/Development Init
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Contents Forewords 16 21 The Policy
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44 Promoting free and fair election
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120 Industrial Infrastructure 124 1
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16 FOREWORD Goodluck Ebele Jonathan
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Ahmadu Bello University, Zaria, Nig
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since 1989 Rotary kiln incinerators
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Pushing boundaries An emerging lead
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24 the policy agenda Realising Nige
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Foreign policy and the investment e
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28 the policy agenda prospects of l
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www.nosakgroup.com Corporate Offi c
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32 the policy agenda Democracy and
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Sustainable business, social repons
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36 the policy agenda There is no do
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38 the policy agenda Working to ach
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40 the policy agenda they had sexua
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42 the policy agenda “The improve
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44 the policy agenda Promoting free
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46 the policy agenda The April 2011
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48 the economy and finance Nigeria
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Murphy Shipping…………Bridging
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52 the economy and finance has been
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Since 1994, Nigeria Inter-Bank Sett
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56 the economy and finance Facts an
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58 the economy and finance petroleu
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Driving growth through Mobile Money
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elevating the country to the upper
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Zenith Bank plc Zenith Bank was est
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the economy and finance 67 Public r
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Improving Nigeria’s electricity n
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supply of electricity, though, will
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oil, gas and minerals 73 Nigeria’
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aBc Human development consultants l
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oil, gas and minerals 77 The decisi
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Empowering Nigeria Seven Energy Int
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Reliable partner in NIGERIA JASCON
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Crude oil exports by destination, 2
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The leading indigenous suppliers of
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DrillPet International Limited (DIL
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Step on the gas The Nigerian Gas Ma
Page 91 and 92: The original GMP proposed a gas inf
Page 93 and 94: Find out more at www.oriental-er.co
Page 95 and 96: To encourage the participation of l
Page 97 and 98: NEITI: the Nigerian Extractive Indu
Page 99 and 100: Cakasa (Nigeria) Company Limited St
Page 101 and 102: The government has ambitious plans
Page 103 and 104: Potential for growth The Nigerian g
Page 105 and 106: Oil and the Niger Delta Nigeria’s
Page 107 and 108: Shell estimates it has an additiona
Page 109 and 110: High Voltage transmission sending s
Page 111 and 112: Despite being rich in natural resou
Page 113 and 114: HEAD OFFICE POWER GENERATION TRANSM
Page 115 and 116: former university academic addresse
Page 117 and 118: Although efforts to bring electrici
Page 119 and 120: www.ilf.com ILF - Engineering Excel
Page 121 and 122: of one gigawatt coal-fired power pl
Page 123 and 124: © 2012 Caterpillar All Rights Rese
Page 125 and 126: The National Economic Development P
Page 127 and 128: Vehicle imports General cargo Conta
Page 130 and 131: Engineering & Construction STEMCO,
Page 132 and 133: 132 INDUSTRIAL INFRASTRUCTURE Suppo
Page 134 and 135: 134 INDUSTRIAL INFRASTRUCTURE One o
Page 136 and 137: 136 SOCIAL INFRASTRUCTURE Populatio
Page 138 and 139: 138 SOCIAL INFRASTRUCTURE Tackling
Page 140 and 141: 140 SOCIAL INFRASTRUCTURE the chanc
Page 144 and 145: 144 SOCIAL INFRASTRUCTURE Obstetric
Page 146 and 147: 146 agriculture and water Growing t
Page 148 and 149: Electrical, Mechanical, Civil, Wate
Page 150 and 151: 150 agriculture and water sesame an
Page 152 and 153: Siat Group Investment Company in Tr
Page 154 and 155: 154 agriculture and water The devel
Page 156 and 157: 156 media, tourism aNd culture A ri
Page 158 and 159: 158 media, tourism aNd culture The
Page 160 and 161: 160 MEDIA, TOURISM AND CULTURE A ci
Page 162 and 163: 162 MEDIA, TOURISM AND CULTURE Top
Page 164 and 165: 164 DIRECTORY Government ministries
Page 166 and 167: 166 DIRECTORY Tel: 236 0521, 236 05
Page 168 and 169: 168 DIRECTORY United States of Amer
Page 170 and 171: 170 Index of advertisers Aero .....
Page 172: ffordability - innovation eliabilit
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