A diverse set of forces, including favourable economic factors, a supportive regulatory environment, and a high disease burden will make Kenya and Rwanda among the most attractive countries in East Africa. The consolidation of the rising middle class and heightened healthcare awareness will drive up per capita healthcare expenditure and provide lucrative opportunities within these markets.
As the East African economy continues to grow and the population has more disposable income to afford better healthcare, the demand for specialised healthcare services is expected to increase. However, the lack of skilled resources as well as inadequate infrastructure, need for capital investment, and high construction costs hamper the availability of specialist care and high-end technologies in both countries.
As they compete to become East Africa’s medical tourism hub, these countries will see enhanced interest from private sector participants to construct hospitals. Overall, higher domestic and external investment is expected in these markets due to macroeconomic stability, market-friendly reforms, and the successful debut Eurobond issuance in Kenya.