Equity Bank Rwanda Plc in partnership with USAID Ireme introduced new healthcare financing product son Thursday, October 3, designed to meet the diverse needs of healthcare providers.
These products are intended to support building health facilities, purchasing medical equipment, and adopting digital healthcare solutions, all focused on the specific needs of the sector.
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According to the Managing Director of Equity Bank Rwanda Plc, Hannington Namara; "A healthy community is a wealthy one, and through these products, we empower healthcare providers with solutions for technology investments, medical equipment, facility expansion, and working capital. This will drive economic growth, support universal health coverage, and ensure sustained well-being for our communities.”
He added that these products reflect their strategic commitment to the healthcare sector. "By fostering partnerships, like USAID Ireme, we ensure that healthcare providers have access to financing for sustainable growth.”
Namara also noted that the bank&039;s health-focused products were crafted with precision, ensuring they reflect the specific requirements of healthcare providers.
"These products may seem normal, but we designed them with a keen eye to ensure they mirror the needs of our health service providers,” he said.
Equity Bank has also rolled out Equity Afya, supporting hospitals, doctors, and professionals to improve access to affordable, standardised healthcare.
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In her remarks, Anita Asiimwe, MSH's Chief of Party for the USAID Ireme project in Rwanda, said USAID Ireme partnered with Equity Bank Rwanda, combining their deep understanding of the healthcare landscape with financial expertise.
"Together, we have developed tailored loan products that empower healthcare providers to invest, expand, and transform service delivery ultimately enhancing access to quality and affordable healthcare for every Rwandan.
"Access to the right financial services not only creates opportunities for healthcare professionals and entrepreneurs to thrive but also strengthens the entire health system.
"Although the Rwandan government has allocated over 15 per cent of its national budget to health, we still need to increase that figure to meet our 2030 and 2050 goals,” she explained, adding that private sector involvement is essential to achieve these targets.
Currently, less than 15 per cent of Rwanda’s 2,200 health facilities are privately owned, and they serve only 11 per cent of the population, she said.
Asiimwe noted the importance of public-private partnerships to address healthcare financing challenges and ensure sustainable, quality healthcare services for all Rwandans.
Alice Ikirezi, Head of Investment and Social Impact at Equity Bank Rwanda, said their Healthcare Financing Products aim to improve access, encourage preventive care, and promote financial inclusion. "
Tailored to the healthcare sector, these solutions support public health goals and mitigate financial risks for individuals and families," she said.
"Our healthcare financing solutions are aligned with Rwanda’s national health strategies, helping to build stronger infrastructure for universal health coverage. These products offer flexible terms, enabling healthcare providers to grow sustainably while managing financial risks," she added.
During the event, a panel discussion titled "Unlocking Health Financing to Achieve Universal Healthcare" was held, featuring several experts.
The discussion focused on how banks and private businesses can help improve Rwanda&039;s health sector by solving financing problems.
Panelists also stressed the important role financial institutions play in filling gaps and encouraging partnerships between public and private organizations to expand healthcare services, reach underserved communities, and improve the quality of healthcare in Rwanda.