By Cynthia Ezekwe
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has upgraded its healthcare short-term loan to ensure a flexible repayment period.
This upgrade, which is.in line with the bank’s contributions to an improved healthcare sector in the country, offers affordable interest rates and zero collateral to enable sector players to access better financing and achieve optimal service delivery.
The healthcare short-term loan, which has a duration of 12 months, 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 financial institutions and healthcare organizations is key to advancing Nigeria’s health sector.
“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,” she said.
Ike-Okoli noted that Stanbic IBTC has a comprehensive understanding of the healthcare industry and its intricacies, hence, it will never relent in designing innovative yet affordable solutions to boost healthcare businesses across the country.
“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.
According to Ike-Okoli, Nigerians encounter challenges in the health sector such as inadequate healthcare infrastructure and insufficient financing, despite the country being Africa’s largest healthcare market.
She advised financial institutions to be more intentional about complementing the government’s efforts.
Also speaking at the event, Babatunde Akindele, head, coverage, commercial clients, Stanbic IBTC Bank, said the newly improved healthcare short-term loan is a necessary investment.
“The pandemic has increased the pressure on the health sector by revealing the urgent need to expand healthcare facilities and Stanbic IBTC has taken a bold step in the right direction to improve healthcare infrastructure and enable qualitative service delivery, which will restore the hope of many Nigerians,” Akindele said.
Stanbic IBTC also 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, and it remains committed to blazing the trail in this regard.