Abuja’s Health Sector Gets a Boost as Local Medicine Store Owner Secures USAID-FCMB Loan

Abuja’s Health Sector Gets a Boost as Local Medicine Store Owner Secures USAID-FCMB Loan

In Kpana, a densely populated slum near Abuja’s Jabi neighborhood, access to healthcare is a persistent challenge. For over two decades, Mr. Clement Okonkwo has served his community by running a small patent medicine store in Kpana, along with two others in nearby suburbs. However, limited stock of family planning products due to funding constraints has often hindered his ability to meet the growing healthcare needs of the area.

This changed in October 2024 when Clement became the first health business owner to secure a loan through a new partnership between USAID and First City Monument Bank (FCMB) in Nigeria. With support from the USAID-funded Frontier Health Markets (FHM) Engage project, Clement participated in financial and business management training, along with a loan clinic held in August. These sessions equipped him with the skills needed to access credit.

The loan will enable Clement to restock his stores in time for the busy holiday season, ensuring the availability of vital reproductive and child health products for his community.

Established in May 2024, the USAID-FCMB partnership is designed to provide up to $10 million in loans to health-focused businesses across Nigeria, strengthening the country’s healthcare delivery systems.

Clement's Perspective

“I am thankful to FHM Engage and Tillit for guiding me in accessing financing from FCMB,” Clement shared. “The loan will help me stock up on crucial reproductive and child healthcare medications, as well as other fast-moving goods, ahead of the Christmas season. The training and follow-up coaching provided by FHM Engage and Tillit have been truly impactful. I now feel confident about approaching other banks for financing to grow my business further.”