October 22, 2021
Introduction
As COVID-19 is accelerating countries’ digital health reform, and governments realise the complexities of delivering healthcare in a decentralised market, the opportunity to improve Africa’s weak state of healthcare infrastructure should not be lost. Africa’s healthcare can be greatly improved through digital innovation and the pandemic offers an opportunity for this great reset. The fastest growing mobile ecosystem on earth should be leveraged. Indeed, 70percent of the continent has mobile coverage with 3G connection and 30percent with 4G networks.
The growth of e-health digital platforms and the provision of medical insurance through mobile innovation, the adoption of new technologies by medical workers and citizens are dependent on the continent’s entrepreneurship ecosystems. As such, the objective of the session was to discuss the role of entrepreneurship and MSMEs in the development of the new health economy in Africa.
Session Highlights
The Panellists discussed the role of the Investment Promotion Agency (IPA) during the onset of the pandemic in Africa. They discussed the key role played by the IPAs in providing support and logistics in various sectors, starting from manufacturing to distribution. There’s a need for partnership between the IPAs, development banks, and private equities to create better health care infrastructure.
The Panellists resonated that the market plays an important role in creation of infrastructure. However, the market cannot bear the entire burden and it is the responsibility of the government to direct funds to other areas where the cost to profit ratios are not desirable. Therefore, government policies matter a lot in the development of quality healthcare infrastructure.
Discussion examined that one of the key challenges faced by the new healthcare start-ups is the scaling issues. There is a lot of energy and intent in the new agencies. However, they lack the commercial experience to scale up. Other challenges discussed in the session were issues with the regulatory issues (device regulations), access to finance, data availability, and lack of partnership opportunities available to the start-ups in the African healthcare industry.
The Panellists recommended that mentoring the start-ups would be a possible way forward in the industry. Additionally, harmonisation of regulatory rules at least at the regional level would be beneficial and would save the time and cost to the start-ups. Other suggestions include flexible funding opportunities for the start-up as flexible funding enables the start-ups to innovate.
Opening
- Ms.Christiane Stepanek, Chief, Responsible Investment and Partnership Initiatives, Division on Investment and Enterprise, UNCTAD
On the panel were:
- Ms. Janet Byaruhanga, Senior Programme Officer, AU-NEPAD Health Programme
- Mr.Nazeem Mohamed, International Pharmaceutical Consultant
- Mr. Robert Karanja, Co-Founder and Chief Innovation Officer, Villgro Africa
- Mr.OnyenohaChukwumerije, Founder, OnyexxPharma and Consultant, World Health Organisation (WHO)
- Mr.AdereniAbiodun, Founder and CEO of Helpmum, Nigeria
- Ms.Stephania Bonilla-Feret, Economic Affairs Officer, UNCTAD
Moderator
- Mr. Abdu Mukhtar, Director Industry and Trade Development Department, AfDB