Bank of Kigali, VIEBEG and private medical stakeholders at the MEF launch held in Kigali, June 14
The Bank of Kigali (BK) has officially launched a new and unique health product, which will broaden support for both the private and public health facilities to access reliable medical equipment and supplies.
The Medical Equipment Financing (MEF) product was launched this June 14, 2024 in Kigali following the recent signing of a partnership agreement with Rwanda’s leading medical equipment and product supplier- VIEBEG Medical ltd that was focused on the private sector.
The MEF financing will be offered without any collateral and BK will provide up to 80% financing of the equipment’s value , with a repayment period of over 5 years.
Under the BK-MEF Product, VIEBEG will supply a wide range of medical equipment and supplies with 80% of the cost/ value covered
In this partnership, the Bank of Kigali will provide flexible financing solutions for the acquisition of medical equipment, and VIEBEG will use its expertise and global network to supply state-of-the art medical equipment and supplies but also guarantee lifetime equipment maintenance (biomechanical) and servicing.
Following positive feedback from the health sector service providers and interest from the government to use the BK-VIEBEG model to improve healthcare services, both parties have taken the partnership a step further and opening it to the wider health community.
According to officials, this bold move will ensure sustainable growth in the healthcare sector which aspires to become a medical tourism hub but also enhance a new strategy of quadrupling the number of healthcare workers in the country within the next four years to meet the WHO recommendation of at least 4 healthcare professionals per 1,000 population density.
Dr. Diane Karusisi explains why BK is venturing in Health Products
The Bank of Kigali CEO, Dr. Diane Karusisi said that the new product which adds on other existing products to drive the bank’s agenda of transforming lives, is an important undertaking to improve the quality of healthcare and services delivered in Rwanda’s health sector.
“This product is a significant step towards enhancing healthcare in Rwanda. By leveraging our partners’ advanced technology and expertise, we can provide vital financial solutions that directly address the needs of our healthcare providers,” Karusisi said.
As a product specialist bank, Bank of Kigali has played a key role in developing tailored solutions for every sector of our economy, including education, manufacturing, transportation, and agriculture and now venturing into health products to transform the health sector.
“Today, we extend our focus to the health sector, addressing the critical challenge of accessing suitable medical equipment. Our Medical Equipment Financing aims to bridge this gap,” Karusisi said.
Alex Rosen said that by availing needed equipment the medical supply chains, Rwanda will further improve its health services beyond access
VIEBEG CEO, Alex Rosen said that following the recent signing of a partnership agreement with BK, the demand for medical equipment and supplies financing model has attracted interest from many stakeholders in the country and the region, thus a need to step up the program from supporting the private sector to considering the public health sector.
“Rwanda has made progress in access to healthcare and it’s not anywhere near where it needs to be. So, a partnership like this with BK is an opportunity to give back to the country and improve the life and wellbeing of everyone,” Rosen said.
Rosen stated that in order to fully support the whole health sector, enable providers to improve service delivery at all levels, there is a need to open up the equipment financing to both private and public health providers.
Béata Uwamaliza Habyarimana explains the BK Group vision that will improve Rwanda’s Health Sector to bridge existing gaps in health services
BK Group CEO, Béata Uwamaliza Habyarimana said that venturing into this new product is a way to contribute to the government development agenda to improve and solve existing challenges in the healthcare system where patients will no longer have to wait to get proper treatment.
“BK is committed to ensuring that you get the needed medical equipment and our BK Insurance will also provide the needed equipment insurance; but also BK Foundation has a commitment in supporting nursing skills development as part of its CSR contribution in the healthcare sector growth,” Habyarimana said.
This MEF initiative also supports the “Nanjye ni BK” campaign, encouraging healthcare facilities and their staff to join the BK family and enjoy its wide array of banking products and services.
