healthtech Archives - AfricaBusiness.com

26Sep

By Africa BusinessNo Comments

Business, Egypt News, Kenya News, Nigeria News, Startups

Why investment in African healthtech is set for a major decline in 2024

Yomi Kazeem, Engagement Manager at Salient Advisory, and his colleagues explore the alarming trend of declining investments in African healthtech. In 2023, amid a nearly 40% slump in investment across African technology ecosystems, funding for healthtech startups across the continent proved resilient, dropping by only 2% – but that is set to change. Analysis of funding trends in the first of half of 2024 suggests that a major decline in healthtech investment is on the cards, with African healthtech innovations raising only $24 million – a 69% drop compared to the same period in 2023, according to data from Salient Advisory. The drop in funding is driven by a decline in both deal count and value: the number of deals is down by 47% in the first half of 2024, and the average ticket size...

30Jul

By Africa BusinessNo Comments

Nigeria News, Startups

24 health supply chain innovators are now emerging as market leaders across Africa, reaching 50,000 healthcare providers across 33 countries

After years of building, leading healthcare supply chain innovations in Africa now appear to be on the cusp of more substantive impact Healthcare consulting firm Salient Advisory has launched its latest market intelligence report, focusing on 24 leading Africa-focused supply chain innovators which appear to be on the cusp of more substantive impact. Funded by the Gates Foundation, the report titled “Leading Innovations Enabling Health Product Access in Africa'', finds that, amid difficult macroeconomic realities and dwindling investment in African technology ecosystems, a select number of African health innovators are emerging as leaders. Having operated for 10 years on average, the 24 leading innovators collectively now partner with 100+ manufacturers and 75 public health institutions, ...

15Nov

By Africa BusinessNo Comments

Medicine, Nigeria News, Startups

DrugStoc Secures $4.4M in Series A Funding to Expand Access to Quality Pharmaceuticals in Africa

Healthtech startup, DrugStoc has raised USD 4.4 million in Series A funding to expand access to quality medicines while providing sustainable supply chain financing for healthcare providers in Sub-Saharan Africa. The funding round is led by Africa HealthCare Master Fund (AAIC), and other investors include Chicago-based venture firm Vested World and the German Development Bank (DEG). Nobuhiko Ichimiya, Director at AAIC stated that, “We are very excited to be part of the Drugstoc journey. The pharmaceutical market in Africa has enormous growth potential and we are glad to back a company well-positioned to be a key player in the sector’s growth in sub-Saharan Africa.” Chibuzor Opara, DrugStoc’s co-founder and CEO; asserted that “We are committed to making an impact in the healthcare indu...

Shaping tomorrow’s innovation: Collaborating with the right VC partner

20Apr

By Africa BusinessNo Comments

Startups

Shaping tomorrow’s innovation: Collaborating with the right VC partner

Early-stage African tech investor HAVAÍC says aligning to startup founders’ interests, allowing management to maintain their independence, leveraging off smart capital and working together towards a mutually favourable exit is the foundation for successful collaboration between Venture Capital (VC) investors and startups. Ian Lessem, Managing Partner at HAVAÍC, notes that for African startups with international ambitions, partnering with professional investment managers with proven expertise, well established networks, and experience in scaling businesses both locally and abroad are non-negotiable. “We focus on bringing about strategic value in the companies we invest. Our approach is very much about solving backwards from the end goals and carefully considering what foundations need to be...

26Mar

By Africa BusinessNo Comments

Startups

Africa’s Best Corporate-Startup Collaboration Accelerator Now Open for Applications from the Most Disruptive Startups on the Continent

Technology sectors such as FinTech, InsureTech, AgriTech, eCommerce, HealthTech, and CleanTech are not only solving some of Africa’s most pressing problems, they are also contributing significantly to the continent’s economy. In fact, the so-called Internet economy is set to reach 5.2% of gross domestic product (GDP) by 2025, contributing about $180-billion to the African economy[1]. To develop the potential of startups driving the Internet economy, Telecel Group has opened applications for the ASIP Accelerator Program, powered by Startupbootcamp AfriTech. The Program helps startups achieve 18-24 months of growth in just three months. Now, the next generation of early-stage African tech startups disrupting a wide range of industry sectors are being sought. Ten startups will be selected to ...

Five Tech Megatrends that can Transform African economies in 2021 and beyond

15Jan

By Richard LiNo Comments

African News, Agriculture, Fintech, Main, Medicine

Five Tech Megatrends that can Transform African economies in 2021 and beyond

The world has been experiencing massive digital disruption with the relentless rollout and adoption of disruptive and innovative technologies. Embracing digital disruption is daunting, since it is extremely unsettling with the rapid change brought about within societies and the severe impact on unskilled labor. Even if the African continent will not be spared by digital disruption, Africa cannot afford to be left out of these global technology (Tech) trends. If technology is wisely implemented, developing African countries are able to hop on the digital bandwagon to rapidly undergo a digital revolution that can boost their respective economies. While disruptive technologies like artificial intelligence, additive manufacturing, augmented and virtual reality, and others are becoming more and...