Stanbic IBTC Bank, a
subsidiary of Stanbic IBTC Holdings, in line with its contributions to an
improved healthcare sector in the country, has upgraded its short-term loan
solution within the healthcare value chain.
This upgrade ensures a
flexible repayment period, with affordable interest rate and zero collateral to
enable sector players access better financing and achieve optimal service
delivery.
The healthcare short-term
loan, which now offers a longer tenor of 12 months, affordable interest rate and
zero collateral will foster more investment in the sector and enhance strategic
relationships to generate new businesses.
Speaking at the Medic West
Africa Conference, Jane Ike-Okoli, Head, Specialized Sectors, Stanbic IBTC
Bank, noted that effective collaboration between the financial institutions and
healthcare organizations is key to advancing Nigeria’s health sector.
She advised financial institutions to be more intentional
about complementing the government's efforts. She said, "Stanbic IBTC has
a comprehensive understanding of the healthcare industry and its intricacies. This
knowledge inspires us to continue to design innovative yet affordable solutions
to boost healthcare businesses across the country.”
According to her, despite
Nigeria being Africa’s largest healthcare market, challenges in the health
sector include inadequate healthcare infrastructure and insufficient financing. “Stanbic IBTC is passionate about driving
change, hence our partnership with key stakeholders in the healthcare sector to
improve access to healthcare finance. We achieve this by offering flexible
funding options for healthcare businesses and providers and strategically
partnering with the players in the healthcare ecosystem.
“Our healthcare solutions are
tailor-made for businesses in the sector who need working capital to expand
healthcare operations, acquire medical equipment, facilitate medical research, and
ultimately grow their healthcare businesses," she stated.
Babatunde Akindele, Head,
Coverage, Commercial Clients, Stanbic IBTC Bank, also stated that the newly
improved healthcare short-term loan is a necessary investment.
“Healthcare is a basic need that everyone
should access easily. The pandemic has increased the pressure on the health
sector by revealing the urgent need to expand healthcare facilities. Stanbic
IBTC has taken yet another step in the right direction to improve healthcare
infrastructure and enable qualitative service delivery, which will restore the
hope of many Nigerians," he said.
The growth of the Nigerian healthcare sector rests on impactful and innovative finance solutions positioned to create a level playing field for businesses to thrive. Stanbic IBTC has said it remains committed to blazing the trail in this regard.
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