Govt urged to waive duties on health equipment as Ghana becomes 1st beneficiary of EASE Healthcare

Ghana has taken the lead in becoming West Africa’s first beneficiary of the African Asset Finance Company’s (AAFC) Equipment-as-a-Service (EASE®) healthcare with its first installation at the FOCOS Orthopedic Hospital in Accra.

This feat was cemented after a CT Scanner, a diagnostic medical equipment provided by EASE® Ghana, was installed at the hospital during a brief ceremony, which also announced the presence of the partnership in the country.

Speaking during the ceremony, Dr. Kanyinsola Oyeyinka, Managing Director of EASE Ghana and Vice President of Healthcare, AAFC, said that the partnership with FOCOS Orthopedic Hospital, which enables quality healthcare without substantial upfront costs, is a great honour.

She also explained some of the work arrangements with FOCOS and how this will benefit all parties involved.

“It's really an honor and a privilege for us. We are very excited, as we said on many occasions today, that we've been able to get the equipment installed and ready to work... and this is very important because we demonstrate that this is a project that is real. You've seen the scanner, you've seen the machine, it's ready to serve patients, and that really means a lot for us.

“We know what we're good at and we know what FOCOS is good at: FOCOS is very good at looking after patients so they are going to provide the clinical service. What we've done here is we have gotten a piece of equipment that they can use and pay as they use it. It means every time that a patient lies on that table and gets scanned and FOCOS gets paid, from that money that FOCOS gets, they also pay us.

“We have an arrangement with FOCOS over a five-year period. That equipment is a contract that we signed, and like I mentioned earlier, at the end of the period, they have a choice. They can choose to keep the machine and we will continue to provide this service to them. If they want to buy it, they can do so. If they want us to upgrade it to a higher spec or different model, we can also do that,” she explained.

Frans VanSchaik, CEO of AAFC, highlighted the need for innovative healthcare financing, while calling on the government of Ghana to reinstate duties exemptions on health equipment coming into Ghana so that they can continue to help expand the health sector of the country.

“A component of that is the duty to import. Now, medical equipment typically is not taxed when you import it in the country. The used not be taxed in Ghana either but that has all of a sudden changed last year, I think for political reasons. The government, I think, intends to put it back in place but hasn't done it yet,” he said.

He also stated that AAFC plans to install $75 million worth of equipment in Ghana in an economically-sustainable way.

Mr. Yoofi Grant, CEO of Ghana Investment Promotion Center (GIPC), praised EASE®

Ghana's tailored solution for the African market. He expressed the GIPC's commitment to supporting the replication of this successful model across the country.

EASE® Ghana aims to address the pressing issue of inadequate and non-functional medical equipment, which poses a significant barrier to quality healthcare in Ghana. Through the innovative pay-per-use model, EASE® purchases the necessary equipment and places it directly in health providers' facilities. The generated cash flows from equipment usage cover the payment for its use, eliminating the need for customers to rely on equity or bank loans.

This approach allows healthcare providers to record equipment costs as operating expenditures, offering sustainable and flexible alternative healthcare delivery and financing. EASE® serves qualifying healthcare providers looking to replace obsolete or non-functioning equipment or establish new facilities, enabling them to expand their service offerings.

Currently, EASE® Ghana specialises in providing diagnostic radiology equipment, including MRI scanners, CT scanners, Mammography equipment, X-rays, Ultrasound scanners, and fluoroscopy machines. EASE® plans to extend its services to include other types of medical equipment and broaden its reach to the ICT and Agriculture sectors.

The success of EASE® is built on strong partnerships with renowned Original Equipment Manufacturers (OEMs) such as Siemens Healthineers, GE, and Fuji. These partnerships ensure that customers receive top-tier equipment tailored to their specific needs.

EASE® goes beyond equipment provision by offering an all-inclusive service package, which includes maintenance, operator training, and ongoing support. These services are delivered through collaborations with reputable local service partners, guaranteeing optimal equipment performance and reliability.

By collaborating with the Ministries of Health and Finance, AAFC aims to extend the EASE® service to public sector hospitals, ensuring widespread access to advanced medical equipment without substantial capital expenses.

The EASE® Ghana team with Mr. Frans VanSchaik (2nd from left), CEO of AAFC and Mr. Imraan Soomra (3rd from right), COO of AAFC

About African Asset Finance Company (AAFC):

AAFC is a leading provider of Equipment-as-a-Service (EASE®) solutions across various industries, including healthcare, ICT, and agriculture. The company's mission is to improve access to modern equipment, lower costs, and promote sustainable development. For more information, please visit www.ease-gh.com.