Excellencies, Honorable Ministers, Distinguished Guests, Ladies and Gentlemen,

I am honored to speak on behalf of Afreximbank on a challenge that strikes at the core of Africa’s development: bridging our health financing gap. Allow me to commend the AUC for putting health financing at the center of our discussions this week. I would also like to thank the Government of South Africa for their warm hospitality and for the excellent arrangement made for this meeting.

A strong health system is not only a moral imperative; it is also an economic necessity, a cornerstone for resilience, and a prerequisite for Africa’s demographic dividend. Africa still faces a staggering shortfall—billions of dollars each year—in the resources needed to build resilient health systems. COVID-19 revealed how fragile our systems are, while today’s shifting geo-economic context—slowing global growth, debt pressures, and competing crises—makes financing even harder.

Too often, our health systems depend on unpredictable donor funds. Too often, fiscal constraints force governments to choose between servicing debt and saving lives.

At Afreximbank, we have seen first hand how health and finance intersect. When the COVID-19 Pandemic threatened to paralyse our economies, the Bank responded quickly with Pandemic Trade Impact Mitigation Facility, which kept supply chains moving ensured much needed liquidity. Working with Africa CDC and UNECA we established the African Medical Supplies Platform, which has since been adopted as Africa’s pooled procurement mechanism. We also put in put in place a US$2 billion advance procurement guarantee which helped secure 400 million doses of vaccines for Africa and the Caribbean at a time when Africa and the Caribbean were abandoned by others.

Colleagues, lessons from COVID demonstrate that health is not a cost; it is an investment. A healthy population is the foundation of productivity, prosperity, and stability. Without closing this gap, Africa cannot fully unlock its demographic dividend or meet the promise of Agenda 2063.

But we need bold solutions:

1. We need to Prioritise domestic resources and treat health as central to national budgets, supported by fair taxation and innovative financing.
2. We need to Catalyse private capital working with African multilateral financial institutions such as Afreximbank, to provide blended finance, risk-sharing tools, and partnerships that make health attractive to investors.
3. We need to Harness African integration – by pooling procurement under the AfCFTA to reduce costs and strengthen bargaining power and empowering the Africa CDC to coordinate continental responses.
4. We need to Leverage technology – from digital health to local pharmaceutical manufacturing, turning Africa into a hub of innovation.

Honorable Ministers,

We must act with urgency. Bridging Africa’s health financing gap is not only about saving lives—it is about securing the future of our continent. The broader importance of this work is clear, health financing is not just about clinics or medicines- it is about Africa’s ability to shape its own destiny, especially in a time of great global uncertainty. Strong health systems underpins productivity, deepens intra-African trade and support sustainable growth.

Let us commit to building health systems that are resilient, inclusive, and sustainable. Let us ensure that no African is denied care because of poverty or geography. And let us remind the world that investing in Africa’s health is investing in global stability and shared prosperity.

As the STC meeting continues its deliberations, Afreximbank reaffirms its commitment to stand with Member States, the AU Commission and our continental and global partners to close Africa’s health financing gap.

A healthy Africa is a prosperous Africa.

I thank you.