Seeds of Prosperity: Investing in Africa's Health and Future

Coming home after a trip away evokes emotions unparalleled by any other experience. Whatever the peculiar challenges that beset Nigeria, there is always the palpable feeling of belonging, of connecting with ancestral roots, of knowing that at this port of entry, the essence of one's identity is not just acknowledged but celebrated. At this port of entry, no one demands to know when I plan to leave or why I am here.

I love my work. I love Nigeria. And when these two loves converge, the stakes are as high as they can get. Recently I have been thinking and writing more about the intersection between health and financing especially in the Global South. With my recent appointment as co-chair of the Impact Investment Initiative for Global Health (Triple I for GH), that  intricate interplay between health and financing becomes even more consequential.

Health financing in Africa isn't just a matter of economics or policy; it is an existential issue. The multifaceted challenges Africa faces in development, and particularly in healthcare, necessitate pioneering and tailored financial solutions. African nations, despite their abundant resources and vibrant cultures, often grapple with economic challenges. Even if we were to staunch the massive outflow from wastage and corruption that plagues many of our systems, the magnitude of health needs far exceeds what our governments can singularly offer. Herein lies the undeniable urgency for private sector intervention. Their financial acumen and agility are paramount for the health investments that lay the foundation for a vibrant, thriving population. It's an age-old adage yet one that rings true — health truly is the cornerstone of wealth.

This week I was in Lagos, a different kind of concrete jungle from New York, where I was a couple of weeks ago for UNGA. In this vibrant, diverse, and yes, humid mega city, I was thrilled to be part of a landmark conference organised by AFREXIMBANK. Themed "The Future of Trade in the emerging world of 'Friend-Shoring'," this event was a vibrant gathering of voices, ideas, and solutions from across our continent. Delegates from Egypt to Zambia, from Ghana to Madagascar, converged in this melting pot of innovation.

Throughout my career, I have been a vocal advocate for institutions like AFREXIM, particularly during the daunting times of the COVID-19 pandemic. During this global health crisis, numerous nations from the Global South faced the harrowing reality of vaccine scarcity. However, initiatives spearheaded by Africa CDC under Dr John Nkengasong emerged as beacons of hope. Pillared by the strengths of institutions like Afreximbank, Africa CDC, and the World Bank, AVDA exemplified such African collaboration.

Contrasting with the palpable inertia I sensed at the 78th UNGA, this forum felt like a breath of fresh air. Here, discussions weren't confined to theoretical postulations. Instead, they felt charged with actionable intent, focused on Africa's post-pandemic health trajectory and the urgency of robust investments in resilient health systems. It served as a timely reminder that African solutions, born from our unique challenges and contexts, hold unmatched potential in addressing our continent's challenges.

A chance reunion with an old schoolmate, who has now carved a niche in the world of banking, served as an epiphany. While Africa often looks outwardly for support, solutions, and strategies, we possess an internal reservoir of wisdom, capability, and resources. We can be both seekers of international collaboration and providers of indigenous solutions.

As someone who has dedicated her life to development and equity, I recognize that the bridge between health and economic prosperity cannot be constructed in isolation. We need collaborative architects: financiers who understand the nuances of healthcare and health experts who grasp the intricacies of finance. That conference, for me, was a transformative journey, an exploration into the depths of health financing, and a realization of its vast expanse.

In my address at the conference, I spoke about the profound synergy between health and economic vibrancy. I drew parallels from historical health adversities — the devastating Spanish Flu, the 2014 Ebola crisis — and juxtaposed them against modern-day challenges like the Ukrainian conflict and the looming shadow of the global climate crisis. However, it wasn't a narrative of despair. I spotlighted stories of hope and transformation — Thailand's holistic health-economic model, India's ascent in pharmaceuticals, and Egypt's healthcare innovations. These tales underscored the untapped reservoir of possibilities within Africa's healthcare sector. With initiatives like Triple I, the future, although challenging, gleams with potential.

Echoing the words of our own Chinua Achebe, "Until the lions have their own historians, the history of the hunt will always glorify the hunter," I made a fervent plea. I implored the private sector, our continent's economic powerhouses, to chart a course towards a future where health and prosperity aren’t mere aspirations but tangible realities. An investment in health transcends mere numbers; it's an investment in our collective future, a foundational step towards an African renaissance that shines bright and luminous.

It is up to us to end the days of siloed approaches to tackle our manifold problems. We are at a pivotal juncture where integrated, collaborative approaches are not just beneficial but essential to address our challenges. The returns on health investments are vast, both in tangible economic terms and in the intangible fabric of societal well-being. Using Egypt's Hepatitis C campaign as a testament, where the return on investment was a staggering $3.26 for every dollar spent, I emphasized the transformative power of such health initiatives, which not only address immediate health concerns but also lay the groundwork for long-term economic prosperity.

As I have often said, none of this is possible without political will, without leaders who not just envision but enact policies that foster a conducive ecosystem for health investments in Africa. From innovative tax incentives to streamlined regulations, the path is multifaceted but clear.

In the coming months and years, as I delve deeper into my role with Triple I for Global Health, I am committed to championing these public-private partnerships. I envision a tapestry where the threads of health and finance intertwine seamlessly, crafting resilient health systems for Africa.

Our health systems, like parched lands, await our nurturing. The investments we make today, both in thought and action, will shape the contours of our future. Drawing from the wisdom of my Yoruba heritage, "Akì í gbin àlùbọ́sà kà hu ẹfọ́, ohun tí ènìyàn bá gbìn ni yóò ká." Our future harvest depends on the seeds we sow today. Let us sow judiciously, so that future generations can reap a continent where health for all is not a mere slogan, but a reality.