The African continent loses an estimated $7 billion every year due to medical tourism, according to the African Export-Import Bank (Afreximbank). The alarming figure reflects the deep-rooted challenges facing Africa’s healthcare systems and the urgent need for local investment in medical infrastructure.

The revelation was made by Oluranti Doherty, Director of Export Development at Afreximbank, during the Bank’s 32nd Annual Meetings and AfriCaribbean Trade and Investment Forum held in Nassau, Bahamas. She emphasized that a significant portion of these losses stems from countries like Nigeria, which alone spends over $1.1 billion annually on outbound medical care.

“Africa continues to lose close to $7 billion every year because our people seek medical treatment outside the continent,” Doherty stated. “It is time for us to reverse this trend by building world-class medical infrastructure here at home”.

Afreximbank is already taking action The bank is leading efforts to establish the African Medical Centre of Excellence (AMCE) in Abuja, Nigeria, in partnership with King’s College Hospital, London. This state-of-the-art facility is designed to offer specialized services in oncology, cardiology, haematology, and general healthcare, positioning Africa as a competitive hub for medical excellence.

The Bank believes this initiative will not only improve healthcare access for Africans but also retain billions in medical spending currently lost to countries such as India, the UK, the UAE, and the US.

The high outflow of funds underscores a pressing need: confidence in African healthcare systems must be rebuilt. Patients seek quality care, and when they can’t find it locally, they’re willing to travel — often at great financial cost.

With projects like AMCE, Afreximbank hopes to close the healthcare gap, boost intra-African medical capabilities, and reshape the narrative around Africa’s medical future.

By Erewunmi Peace