Catalyzing Access to Financing for Healthcare Enterprises in Nigeria

From August 12 to 13, 2024, the FHM Engage activity in Nigeria along with partners, First City Monument Bank, Insight Health Consulting, and Tillit MSME Microservices hosted USAID Nigeria and key local health actors for a co-design workshop to develop suitable loan products for healthcare nano, micro, small, and medium enterprises (NMSMEs) in Nigeria.

The workshop builds on existing works by FHM Engage in Ebonyi and the Federal Capital Territory (FCT), including an access to finance landscape completed in 2023 and a comprehensive access to credit and service readiness assessment completed in June 2024. Utilizing Insights from the two assessments, FHM Engage and local actors during the workshop, co-created ideas and credit solutions that will be suitable for healthcare NSMEs in Nigeria.

The event included 35 diverse participants from USAID Nigeria; government health regulators including the Pharmacy Council of Nigeria, FCT Private Health Establishments Registration and Monitoring Committee; private healthcare providers; health professionals associations including GMD, ACPN, AGPNPN, NAPPMED; innovative health solution providers such as WellaHealth and Organon; and other complementary USAID implementing partners including the Health Workforce Management Activity.

Building on the workshop outcomes, FHM Engage and Tillit MSEME, will facilitate the disbursement of developed healthcare centered loans provided by FCMB and further train the supported healthcare providers in business and financial management to boost their viability and overall efficiency.

Banner image: Participants of a workshop discuss pathways for healthcare providers to access financing in Nigeria. Credit: FHM Engage.