The United Bank for Africa (UBA) Plc has unveiled a diaspora investment initiative to attract Nigerian professionals abroad into financing critical healthcare infrastructure, including specialist hospitals, diagnostic centres, telemedicine facilities, and medical training institutions across Nigeria.
The initiative was presented at the 2026 Association of Nigerian Physicians in the Americas (ANPA) Carolinas Symposium in Charlotte, North Carolina, where the bank urged Nigerian-American medical professionals to move beyond remittance-based support towards institutional healthcare investments aimed at improving access to quality medical services in Nigeria.
The symposium, organised annually by the South Carolina and North Carolina chapters of ANPA, brought together more than 170 physicians, healthcare experts, and professionals to discuss health challenges affecting communities across Africa, North America, and the Caribbean.
Speaking at the event, UBA’s Head of Diaspora Banking, Anant Rao, said the absence of structured financial systems had limited diaspora participation in Nigeria’s healthcare transformation.
“The financial infrastructure required to connect your success abroad to sustainable institutional impact at home has not been intentionally designed for diaspora healthcare investors until now,” Mr Rao said.
He added that the bank’s new healthcare investment proposition was designed to bridge the gap between diaspora capital and local healthcare development needs.
Prioritising healthcare infrastructure
During his presentation, Mr Rao introduced the ANPA-UBA Diaspora Healthcare Investment Platform, a professionally managed investment vehicle expected to channel diaspora funds into specialist hospitals, diagnostic centres, telemedicine facilities, and medical training institutions across Nigeria.
According to him, the initiative is structured to support healthcare access while also creating investment opportunities for Nigerians abroad seeking credible and transparent development-focused projects.
“Every dollar invested delivers a dual return, creating value for investors while contributing meaningfully to Nigeria’s healthcare future. We now have the regulatory framework, banking infrastructure, governance structures, and institutional commitment to make this possible,” he said.
Under the arrangement, UBA will function as custodian and structuring bank, while United Capital Asset Management will manage the investment fund.
Development analysts have continued to identify inadequate healthcare infrastructure, medical brain drain, and limited investment in specialist care as major challenges confronting Nigeria’s health sector, particularly in underserved communities.
Diaspora partnership extends beyond remittances
As part of efforts to deepen diaspora participation, Mr Rao also proposed a Memorandum of Understanding (MoU) between UBA and the two ANPA chapters.
The proposed partnership will focus on six strategic areas including specialised banking services for ANPA members, quarterly financial literacy sessions, establishment of a joint healthcare infrastructure fund, dedicated wealth management services, access to family healthcare plans through Avon Health Maintenance Organisation (HMO), and a co-matching contribution framework for healthcare impact projects.
UBA said the initiative forms part of its broader diaspora banking strategy, which already includes non-resident Nigerian accounts in multiple currencies, dollar-denominated investment products, elder-care trust solutions, and private wealth management services tailored to diaspora professionals.
The bank noted that the initiative reflects growing recognition of diaspora capital as an important development financing tool capable of accelerating healthcare and infrastructure growth across Africa.