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HealthPlus ePharmacy And First-Ever Digital Prescription Website Launched

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HealthPlus, Nigeria’s first integrative pharmacy has made history by launching West Africa’s first-ever ePharmacy and digital prescription Platform. Nigerians located anywhere in the country and indeed anywhere in the world can get a prescription from a certified pharmacist and have the medicines delivered promptly. 

This game changing application will facilitate the interaction between patients (customers) and health-service providers nationwide. It also marks a big step in the democratization of health in Nigeria and providing unprecedented healthcare access for Nigerians in all geographical locations.

The HealthPlus  ePharmacy is attributed to a rise in the number of internet consumers, increased access to web-based and online services, and the rising implementation of e-prescriptions in hospitals and other healthcare services.

With 108 million internet users in Nigeria and an estimated 120 million mobile phone holders, HealthPlus is now able to connect more Nigerians to qualified pharmacists and fast track the provision of efficient health care.

In a statement by the Chief Transformational Officer at the launch of this unique service, Mr. Chidi Okoro remarked: “Pharmacists are the first point of care for many Nigerians and are critical to ensure access to essential drugs. The HealthPlus ePharmacy platform is following the mission to enhance access to wholesome medicines and good pharmacy care services. Customers can now access professional pharmacists online from the comfort of their homes using mobile devices.”

Nigeria is also severely under served in the aspect of pharmacy stores locations. Only 25% of Nigeria’s local governments have any sort of pharmacy. That means, 70% of Nigeria’s local government areas have no access to a pharmacist.

Chidi Okoro pledged that “HealthPlus will help bridge this gap. Furthermore Nigeria has one of the lowest productivity rates in the world. This is due to absenteeism  and inadequate health care. If more Nigerians have access to health  and we take a more proactive approach, productivity will increase significantly.

“In keeping with its commitment to raise the standard of care, provide safe access to wholesome medications and reduce wait times, HealthPlus is utilizing the latest technology to consolidate the compendium of care and expand our vision to our customers’ mobile devices.”

Ernest Eguasa, CFO HealthPlus Limited added that “this is a very exciting offering that combines technology and the capabilities of fast-growing sector dynamics of Healthcare and eCommerce in synergy to deliver high-quality customer-centric customer patient care. It gives our customers a channel to conveniently get a wide array of their medical needs with the added benefit of One-on-One pharmaceutical consulting through our bespoke “Chat with a Pharmacist” functionality that ensures patients are getting exactly what they require for their optimum health.”

Afsane Jetha, Managing Partner & CEO Alta Semper and HealthPlus’s private equity partner stated that  “Healthcare in Africa is at an inflection point and has proven its ability to leapfrog traditional business models; it is becoming more consumer-focused and precision-driven. With this technology and platform, we are increasingly focused on preventative care and patients’ well-being, in providing access at their fingertips and the last mile.”

HealthPlus’s commitment to superior quality at reasonable cost maintains the Company’s vision to be West Africa’s most trusted healthcare retail brand, Zachary Fond, Managing Director at Alta Semper also remarked , “HealthPlus is at the forefront of being able to respond to this industry evolution, given the strength of the Company’s brand and its growing footprint nationally, we plan to dedicate further efforts to transformative initiatives aimed at integrating end-to-end healthcare services for our customers”.

The HealthPlus ePharmacy service is available on URL https://www.healthplusnigeria.com and for a limited period, our customers can access up to 10% discount on selected items.

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African Healthtech Shows Resilience with Mere 2% Decline in Funding While Broader Tech Ecosystem Plunges in 2023

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healthtech

Healthcare consulting firm Salient Advisory has launched its latest Intelligence Report, presenting findings on funding activity, covering grant, equity, and debt investments for African healthtech startups in 2023.

Titled “2023 RoundUp: Investments in African HealthTech”, the report provides analysis on funding trends in African healthtech ecosystems.

It provides insights for key stakeholders across governments, investors, donors and global health institutions, and is funded by the Bill & Melinda Gates Foundation.

While investments in African startups plummeted last year, mirroring global trends, healthtech showed resilience, experiencing only a 2% dip compared to a staggering 39% decline in the broader ecosystem.

The number of deals in African healthtech rose by 17% year-over-year (YoY) to 145, with total funding of $167 million and an average ticket size of $1.1 million. In total, 114 innovators received funding in 2023, with 23 receiving multiple investments in the year.

The number of deals for women-led companies remained relatively steady (26 in 2022 vs. 33 in 2023), however, the amount of funding saw a dramatic shift as the gender gaps significantly narrowed: women-led companies secured $52 million in funding –31% of all investments in 2023. This represents a 2000% YoY increase compared to the $2 million (1.4%) they received in 2022.

Online pharmacy solutions attracted the majority of investor capital, capturing 38% ($63 million) of all funding raised, driven by Series B funding rounds by Kenya’s Kasha ($21 million) and MyDAWA ($20 million), alongside Egypt’s Yodawy ($16 million).

Electronic medical records solutions were the second-best funded category, driven by Helium Health’s $30 million Series B funding round.

Equity investments accounted for 91% of total funding with an average deal size of $3.2 million. This significantly outpaced grants, which only contributed 7% of capital with an average ticket size of $168,000.

However, grants continue to play a crucial role in enabling access to early-stage funding for innovators to test and validate their business models. Debt funding remains rare as only one debt-based investment was tracked in 2023.

While still rare, merger and acquisition activity doubled in the past year with four key transactions. The prospect of future funding also appears strong as, despite broader economic headwinds which suggest a slowdown in funding for technology startups, over $600 million in new funding was announced by investors with an interest in African health systems.

Speaking on the launch of the report, Yomi Kazeem, Engagement Manager at Salient Advisory, commented:

“The resilience of African healthtech innovations shines through in the findings of this report. Amid difficult headwinds, these innovations continue to demonstrate commercially viable models that have the potential to improve access to healthcare and deliver impact at scale. The increased funding for women founders is a high point and, in coming years, investors must prioritise sustaining strategies that ensure equitable funding across founders.

Dr. Analía Porrás, Deputy Director, Global Health Agencies and Funds, Bill & Melinda Gates Foundation, also commented: “African healthtech has proven resilient over the past year, with innovators receiving investments to test, validate and scale solutions that have the potential to transform health systems across the continent. We are pleased to be playing a role by providing innovators with risk-tolerant capital through the Investing in Innovation program and hope to see the current resilience translate into increased confidence and funding from investors and donors.”

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Nigeria Loses Startup Investment Crown to Kenya as Foreign Investments Plunge by 65.83%

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Start-up - Investors King

Nigeria has lost its coveted crown as the top destination for startup investments to Kenya, according to the latest report ‘Africa: The Big Deal’.

Foreign investments in Nigerian startups declined by 65.83% year-on-year from $1.2 billion in 2022 to $410 million in 2023.

During the same period, Kenya raised $800 million to emerge top destination for investments in Africa while Nigeria dropped to the fourth position in terms of total startup investments.

However, the Big Four African nations, including Kenya, Egypt, South Africa, and Nigeria, continued to dominate the startup funding scene in 2023 and attracted 87% of the total foreign investments on the continent.

The report highlights Nigeria’s pivotal role in this shift, noting that while the country still boasted the highest number of startups raising $100,000 or more (146, constituting 29% of the continent), the total funding amount experienced a drastic threefold decrease year-on-year.

The research firm observed that “Nigeria is the country where the most dramatic change happened in 2023.”

Despite maintaining a high number of startups, the total funding for Nigerian startups plummeted to $410 million, compared to $1.2 billion in 2022 and $1.7 billion in 2021.

Consequently, Nigeria’s share of Western African funding declined to 68%, down from 85% in 2021 and 77% in 2022.

This decline in startup investments emphasizes the changing dynamics of Africa’s tech ecosystem with Kenya emerging as a formidable player in the startup funding arena.

As Nigeria grapples with this setback, stakeholders are left pondering the reasons behind this significant shift and exploring avenues to revitalize the country’s startup investment landscape.

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Bolt Expels Over 5,000 Drivers in Kenya to Enhance Safety Measures

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Estonian ride-hailing giant Bolt has taken decisive action in Kenya by removing more than 5,000 drivers from its platform over the past six months.

This move comes as part of Bolt’s commitment to bolstering safety and ensuring compliance among its driver partners.

The company, operating in over 15 towns and cities in Kenya, has earmarked KES 20 million ($130,000) for investments in safety-related practices.

The decision to expel drivers follows recent safety concerns raised by the National Transport and Safety Authority (NTSA).

Bolt faced scrutiny and was asked to outline its strategy for addressing safety issues, including instances of physical assault on passengers and unauthorized sale of driver accounts.

The NTSA’s directive was a prerequisite for Bolt’s annual license renewal.

Linda Ndungu, Bolt Kenya’s Country Manager, emphasized the company’s commitment to user trust and safety.

Ndungu stated, “We understand the trust our users place in us, and we are taking proactive steps to ensure their well-being during every ride.”

To enhance safety measures, Bolt is implementing internal measures such as random driver selfie checks, providing training for both riders and drivers, and enforcing strict compliance with swift consequences for violations.

Bolt has also introduced improved reporting tools to facilitate the reporting of safety concerns.

Bolt’s move is a response to recent driver dissatisfaction, attributed in part to commission rates exceeding the government’s recommended 18%, including booking fees.

The company aims to address these challenges and reinforce its commitment to safety and compliance within its platform.

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