A previous study used cross-sectional data on 45 countries in the WHO African region to test the hypothesis that Gross Domestic Product (GDP) per Capita was inversely related to Maternal Mortality Ratio (MMR). However, the cross-sectional technique was unable to capture both the individual country and time specific heterogeneity. Therefore, the aim of the present study was to use Panel Data models to test the hypothesis and to further estimate the economic loss due to MMR in the WHO Africa Region. Findings from the study would be beneficial to governments seeking to minimize the impact of MMR on the growth of their economies. Regarding statistical methodology, the study was intended to demonstrate to practitioners the potential of Panel Data Models as more practical approaches to fitting data with cross-section and time series behavior. The estimated model with country dummy was found to be a potentially effective analytical tool for estimating economic loss due to MMR in the WHO Africa Region.