Afreximbank Warns Medical Tourism Is Draining Africa of $7bn Annually, with Nigeria Losing $1.1bn Alone

The African Export-Importation Bank (Afrixhbank) sounded the alarm in the face of the continent’s deepening with regard to foreign health care, believing that Africa loses about 7 billion dollars each year in medical tourism, a trend that not only bleeds foreign exchange but also efforts to develop sustainable health systems in the region.

During the 32nd annual assemblies of the Afrixhbank (AAM2025) held in Abuja, Nigeria, Ms. Oluranti Doherty, Director of Development of Bank Exports, described the situation as a serious economic and developmental crisis, noting that Nigeria only represents annual annual account of the continent’s medical tourism.

“It is money in other economies, by building their institutions, while weakening ours,” Doherty told delegates, who included heads of state, ministers, private sector players and commercial decision -makers.

A systemic economic drain

The flow of funds is aggravated by the loss of qualified professionals – a trend often called brain leak – while the best medical spirits in Africa continue to move to the United States, Europe, the Middle East and in certain parts of Asia, attracted by better remuneration, research facilities and working conditions.

“The best talent in the health sector was leaving the continent,” said Doherty, “and that was often a problem.”

This massive exodus of health workers, coupled with a population who is increasingly looking for treatment abroad, leaves many African nations with undervalue and overvalued public health systems, unable to deal with the growing load of chronic diseases such as cancer, diabetes and cardiovascular diseases.

Medical tourism and the FX crisis

AFREXIMBANK’s warning also intervenes in the midst of African exchange challenges, especially in major economies like Nigeria, where a prolonged dollars shortage paralyzed the import sectors. Nigeria of $ 1.1 billion loses each year against foreign hospitals, aggravates not only the Forex crisis, but also undermines local capacity building in an essential sector for national development.

The irony, notes observers, is that many African patients are heading abroad for procedures that could be treated locally – if trust, investment and the infrastructure in place.

AFREXIMBANK’s daring intervention

To tackle this problem with its roots, Afreximbank has done health care one of its strategic pillars. Doherty recalled that in 2012, the bank launched a health and medical tourism program, aimed at redirecting African capital and talents in the local health care economy.

At the center of this effort is the Africa Medical Center of Excellence (AMCE), an installation of 170 high -tech beds under construction in Abuja, which has so far attracted more than $ 450 million in Afreximbank investment.

The hospital is equipped with advanced medical technology, including:

• A Cyclotron 18 MEV to produce radio-Isotopes used in the treatment of cancer,
• An MRI machine with three tesla for high resolution imaging,
• A 20 -bed intensive care unit (USI) for intensive care services.

“We recognized this problem a long time ago and decided to do something,” said Doherty. “The AMCE will provide care for global standards, not just African standards.”

Trust deficit in African health care

Despite these daring investments, Doherty has recognized that the reconstruction of public confidence in local health establishments remains a major obstacle.

“I’m talking about global standards. I’m talking about Africans who offer solutions to challenges, “she said.

Experts note that without filling this gap of trust, even the most technologically advanced hospitals on the continent can find it difficult to reverse the wave of outgoing medical tourism.

Broader economic and industrial objectives

Beyond health, the initiative aligns with Afreximbank’s objective to transform Africa into a net exporter of services and manufactured products. The bank aims not only to maintain African wealth, but also to transform the continent into destination for medical trips, ultimately attracting patients from other regions.

In addition, the AMCE model should stimulate industrial growth, in particular local pharmaceutical manufacturing, supply chains with medical equipment, training establishments and R&D collaborations – sectors that can generate jobs, stimulate innovation and get in charge of imports.