Pandemic expands investment opportunities in Africa's health sector: report

The ongoing COVID-19 pandemic has expanded investment opportunities in Africa's health sector, a report released on Tuesday showed.

According to the report by global property consultancy firm, Knight Frank, the pandemic has presented the world including Africa with its greatest challenge as a global healthcare and economic crisis but has also presented us with opportunities.

"It has allowed each country to carefully examine the infrastructure gaps, consider alternative mediums such as telemedicine, a longstanding concept which is only now becoming mainstream, and this, in turn, has caught the attention of a broader pool of investors to take a closer look and deploy funding towards healthcare," said the report dubbed Healthcare in Africa report 2020.

The inaugural edition of the report highlights the opportunities for investing in Africa's healthcare by focusing on the demographic and economic factors driving demand in the sector across the continent.

The findings show that Africa's overall economic and demographic fundamentals present a strong case for investment in healthcare with the private sector playing a pivotal role.

"With increasing urbanization and a rising middle class, the need for specialized care continues to be prevalent. Across the continent, the need for governments to facilitate investments in this sector cannot be over-emphasized," the report said.

According to the review, the healthcare sector in Africa will continue to be driven through consolidation, public-private partnership opportunities, international operator interest and the introduction of highly specialized health services.