LifeBank – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Mon, 26 May 2025 12:42:28 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png LifeBank – Tech | Business | Economy https://techeconomy.ng 32 32 AI: Fostering a Healthy Organizational Culture for a Safer Tomorrow https://techeconomy.ng/ai-fostering-a-healthy-organizational-culture-for-a-safer-tomorrow/ https://techeconomy.ng/ai-fostering-a-healthy-organizational-culture-for-a-safer-tomorrow/#respond Mon, 26 May 2025 11:01:47 +0000 https://techeconomy.ng/?p=159466 Integrating artificial intelligence (AI) with cybersecurity is crucial for the Global South, especially Africa.

This integration faces challenges like cybersecurity threats, skill gaps, and limited resources. Strategic thinking and innovative solutions are necessary to address these issues and harness AI’s potential for sustainable economic development.

Envision a future where Africa embraces innovation, ensuring security and progress. By combining AI with strong cybersecurity measures, we can pave the way for a secure and prosperous continent. Join us in cultivating this promising future for Africa!

Dr. Christian Poensgen’s insightful infographic on 11 phrases leaders use in a healthy workplace culture highlights the importance of communication and support in fostering a positive work environment.

By employing phrases such as “What’s one takeaway from this experience?” and “I trust your judgment,” leaders can encourage reflection, autonomy, and confidence among team members.

These affirmations not only promote growth and self-awareness but also create a sense of ownership and teamwork within the organisation.

Furthermore, phrases like “You’ve got this; I’m here if you need me” and “Let’s take a moment to celebrate the wins” strike a balance between empowerment and support, reinforcing progress and boosting morale.

By acknowledging and appreciating their team members’ abilities and hard work, leaders can foster a sense of value and appreciation, leading to increased motivation and dedication.

Additionally, phrases such as “Who do you need to be to meet these challenges?” and “Is anything standing in your way?” demonstrate a commitment to overcoming obstacles and finding solutions together, promoting a collaborative and proactive approach to problem-solving.

A healthy organisational culture is built on trust, communication, and support. Leaders can empower their team members and foster growth and development by incorporating these 11 powerful phrases into their leadership style.

This approach creates a positive and productive work environment where everyone feels valued and supported. Let’s embrace these phrases and lead with assertiveness and positivity to cultivate a culture of success and well-being within our organisations.

In today’s rapidly evolving digital age, effective leadership in digital entrepreneurship, professionalism, and academic pursuits requires a strong focus on nurturing a healthy and supportive team culture.

By implementing the 11 powerful phrases suggested by Dr Christian Poensgen, leaders can successfully navigate the digital leadership tripod and create an environment conducive to growth and success.

To begin, leaders can encourage reflection within their teams by regularly asking questions such as, “What’s one takeaway from this experience?”

This practice promotes continuous learning and self-improvement, crucial for staying competitive in the dynamic digital landscape. Building trust through statements like, “I trust your judgment,” empowers team members to make independent decisions, fostering a sense of autonomy and responsibility that is essential for entrepreneurial ventures.

Leaders can also delegate leadership by giving team members the opportunity to take the lead with phrases like, “You take the lead on this.”

This approach helps develop their leadership skills and instils a sense of ownership. Additionally, seeking diverse perspectives by asking, “What’s your perspective?” shows openness to different viewpoints, which is a hallmark of professionalism in today’s interconnected world.

Leaders can nurture a positive and productive team culture by balancing empowerment with support and affirming team members’ abilities. Recognizing achievements, promoting self-awareness, facilitating problem-solving, showing appreciation, and emphasizing teamwork all contribute to a thriving environment in the digital age.

In the realm of digital leadership, using impactful phrases can transform team dynamics and foster a culture of growth and success. Encouraging reflection by asking, “What’s one takeaway from this experience?” helps team members learn and grow.

Building trust is essential; saying “I trust your judgment” can strengthen relationships within the team. Additionally, delegating leadership by telling team members, “You take the lead on this,” empowers them and promotes collaboration.

Other essential practices include seeking diverse perspectives, balancing support with empowerment, affirming team members’ abilities, promoting self-awareness, celebrating victories, assisting with problem-solving, showing appreciation, and emphasizing teamwork.

These elements are crucial for creating a positive and productive team culture in digital entrepreneurship, professionalism, and academic endeavours.

By incorporating these phrases into everyday interactions, leaders can inspire their teams to achieve new heights of success and innovation in the digital age.

The digital age has fundamentally transformed entrepreneurship, professionalism, and academia, offering both opportunities and challenges.

In entrepreneurship, digital tools enable innovative business models, global market access, and streamlined operations.

Professionals today must adapt to new technologies while maintaining ethical standards and prioritising continuous learning to remain relevant.

Similarly, academia has evolved due to digital advancements, enhancing research capabilities, fostering collaboration, and providing greater access to educational resources.

Those who navigate these changes can promote personal and professional growth by understanding and leveraging these transformative shifts.

Effective digital leaders such as Satya Nadella, Jeff Bezos, Doug McMillon, Elon Musk, Tim Cook, and Sheryl Sandberg have demonstrated strong leadership qualities by leveraging digital technologies to drive innovation, growth, and industry disruption.

Their visionary approaches have significantly impacted their respective fields, showcasing the power of digital leadership in navigating the complexities of the digital age.

The digital age has also brought profound transformations to entrepreneurship, professionalism, and academia, creating a dynamic landscape filled with both opportunities and challenges.

In entrepreneurship, digital tools have revolutionized business models, expanded market reach, and streamlined operations.

Professionals in the digital era must embrace new technologies, uphold ethical standards, and engage in continuous learning to stay competitive.

Similarly, academia has experienced a digital renaissance, with enhanced research capabilities, collaborative platforms, and greater access to educational resources shaping the scholarly landscape.

By understanding and harnessing these digital transformations, individuals can foster personal and professional growth in today’s evolving digital environment.

Contemporary African digital leaders are playing a crucial role in shaping the digital landscape on the continent.

Innovators such as Rebecca Enonchong of AppsTech, Strive Masiyiwa of Econet Wireless, and Temie Giwa-Tubosun of LifeBank lead digital initiatives and drive technological advancements.

Their visionary leadership and commitment to leveraging digital technologies transform industries and create opportunities for economic growth and social development.

By demonstrating resilience, innovation, and strategic foresight, these leaders are paving the way for a brighter future and making significant contributions to the global digital narrative.

However, aligning AI and cybersecurity in the Global South, particularly in Africa, presents challenges such as cybersecurity threats, skills shortages, and resource constraints. Strategic planning, collaborative approaches, and a mindset geared toward innovation are essential to effectively address these issues.

Practical solutions to enhance the integration of AI and cybersecurity include investing in capacity building, establishing regulatory frameworks, conducting awareness campaigns, and forming incident response teams.

By implementing these solutions thoughtfully and cohesively, African countries can foster a positive team culture, drive economic development, and ensure sustainability through the responsible use of advanced technologies.

Adopting a comprehensive approach to AI and cybersecurity that emphasizes education, regulation, awareness, and preparedness can effectively protect against cyber threats while also promoting innovation and growth.

By collaborating and working together, Africa has the potential to harness these technologies to accelerate development, enhance resilience, and build a prosperous digital future that benefits both individuals and economies throughout the region.

In conclusion, aligning AI and cybersecurity in Africa presents significant opportunities for creating a secure and digitally resilient future.

By prioritizing capacity building, regulation, and collaboration, African nations can cultivate a positive environment that promotes economic growth.

Thoughtfully integrating AI with cybersecurity will empower individuals and strengthen economies, ensuring a brighter future for the region.

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Why Skilled Nigerians are Opting for Local Entrepreneurship Ventures Over Migration https://techeconomy.ng/why-skilled-nigerians-are-opting-for-local-entrepreneurship-ventures-over-migration/ https://techeconomy.ng/why-skilled-nigerians-are-opting-for-local-entrepreneurship-ventures-over-migration/#comments Mon, 16 Sep 2024 11:00:15 +0000 https://techeconomy.ng/?p=143212 For years, migration was seen as the golden ticket for many skilled Nigerians looking to improve their lives, offering career advancement and a better quality of life in countries like the UK, the US, and Canada. 

However, a growing number of professionals are choosing to stay and invest in local entrepreneurship ventures. They gain experience globally, then come back to build locally.

This change could be said to have been influenced by personal ambition, economic opportunity, and a deep desire to positively impact local communities. 

But why are more Nigerians embracing entrepreneurship over migration, and how is this choice impacting the country’s economic industry?

The Lure of Migration and Its Challenges

Historically, skilled Nigerians migrated to escape limitations in career progression, infrastructure, and standard of living. 

While the allure of developed nations is strong, many discover that living abroad is not without its challenges. Migrants often face cultural adjustment, high living costs, and complex legal systems. 

The struggle to integrate into new environments has caused many to reconsider their decisions, sometimes leading to disillusionment.

Net Migration to UK Fell 10% in 2023 [GRAPH]

The Rise of Local Entrepreneurship

In contrast, local entrepreneurship is becoming a more attractive option for skilled Nigerians, driven by multiple factors:

  1. Economic Opportunities: Despite Nigeria’s challenges, its local markets continue to grow, offering lucrative business opportunities. Entrepreneurs are increasingly identifying and capitalizing on untapped niches that address local needs.
  2. Social Impact: A strong desire to contribute to Nigeria’s development is another driver. Entrepreneurs see themselves as agents of change, creating jobs and enabling community development in ways that migration cannot achieve.
  3. Innovation and Technology: Technological advancements have helped local entrepreneurs to compete on a global scale. The rise of digital platforms and tools has made it easier for businesses to start and grow without needing to leave Nigeria.

Several Nigerian entrepreneurs are examples of this change

Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave

Take Iyinoluwa Aboyeji, the co-founder of Andela and Flutterwave. Aboyeji chose to stay in Nigeria, where he has built platforms empowering African talent and businesses. 

His work with Andela, which focuses on training software developers, and Flutterwave, a payment solutions company, has greatly impacted the African tech space, with his current venture, Future Africa, which funds mission-driven innovators across the continent. 

Aboyeji believed in Nigeria’s ability to solve its own challenges and he remained focused on directly contributing to building the infrastructure and ecosystem necessary for sustainable growth.

Funke Opeke, CEO, MainOne

Similarly, Funke Opeke, who returned from the US to found MainOne, has helped in improving West Africa’s internet infrastructure. 

MainOne is a leading provider of telecom services and network solutions in the region, and under Opeke’s leadership, it has bridged huge gaps in digital access. 

After a successful career in the United States, Opeke returned to Nigeria driven by a desire to address the country’s urgent need for better internet infrastructure. Her vision for reducing the digital divide continues to drive her entrepreneurship goal and focus.

Olugbenga Agboola, co-founder of Flutterwave

Olugbenga Agboola, co-founder of Flutterwave, has simplified payments for businesses across Africa, helping them grow and operate efficiently. 

Flutterwave has become an essential pillar of the African fintech sector. Agboola remains in Africa because of his zeal to create solutions targeting the challenges faced by African businesses. With this, he ensures that Flutterwave continues to meet the dynamic needs of its users.

Temie Giwa-Tubosun, founder of LifeBank

Temie Giwa-Tubosun, founder of LifeBank, uses technology to connect hospitals with essential medical supplies, effectively saving lives. 

Her inspiration for LifeBank came from her personal experiences with the healthcare system in Nigeria, and her mission is to improve healthcare delivery in her home country. Giwa-Tubosun is deeply determined to use her platform to address healthcare challenges in Nigeria.

Shola Akinlade, co-founder of Paystack

Shola Akinlade, co-founder of Paystack, has simplified payments for businesses across Africa, allowing them to scale and thrive. 

Paystack’s acquisition by Stripe accentuated its global impact. Akinlade believes in the prospects of African businesses to compete globally. He has helped in building the infrastructure that supports the growth of businesses.

Odunayo Eweniyi, co-founder of PiggyVest

Odunayo Eweniyi, co-founder of PiggyVest, has made a huge impact in promoting financial inclusion and literacy in Nigeria. 

PiggyVest helps Nigerians to save and invest money, enabling them to adequately control their finances. Eweniyi’s decision to stay in Nigeria is driven by her vision to build people with the right mindset and her belief that local entrepreneurship can drive economic development.

Tayo Oviosu, founder of Paga

Tayo Oviosu, founder of Paga, has made financial services accessible to millions of Nigerians through mobile payments. Paga has become indispensable in the Nigerian fintech sector, bolstering how people handle financial transactions. 

Oviosu’s decision to stay in Nigeria allows him to remain close to his customers and better understand their needs, ensuring that Paga continues to deliver solutions that make financial services accessible to all.

The Patriots Who Build with Blistered Hands: Any Hope in Sight?

There is no gainsaying that the success of businesses in Nigeria has a profound impact on the economy and society. They contribute around 60% to the GDP, which equals approximately $295 billion annually, and are responsible for over 80% of jobs, whilst employing more than 52 million Nigerians (National Bureau of Statistics, 2024).

The  Foreign Direct Investment (FDI) reached $3.8 billion in 2023, with significant investments in telecommunications, oil, and renewable energy (UNCTAD, 2024).

Thus business activities continue to drive infrastructure improvements and urbanization, while the fintech sector has further transformed financial transactions, with digital payments reaching $670 billion in 2023 (Central Bank of Nigeria, 2024). 

Despite substantial CSR investments and economic contributions, challenges such as regional disparities and environmental issues remain prevalent (Nigerian Business Coalition for Sustainable Development, 2024; Environmental Rights Action, 2024).

An alarming statistics from the Nigeria Medical Association (NMA) indicate that over 1,000 doctors leave Nigeria annually for better working conditions and opportunities abroad, with popular destinations including the UK, the US, Canada, and Australia. 

Moreover, the media has been awash with reports of a massive exodus of engineers, technology experts, academics, researchers, and other professionals seeking opportunities in countries with thriving tech and engineering sectors. Despite this, there are still many who believe their contributions could help realize the Nigeria of our dreams.

It is important to state from the outset that the decision to stay in Nigeria or leave the country may be based on personal, professional, economic, social, and political reasons. This choice should not be judged as either good or bad. 

This is because, over the past two years, the Nigerian diaspora has made significant contributions to the economy, primarily through remittances, investments, and the transfer of skills and knowledge.

According to the World Bank and the Central Bank of Nigeria (CBN), remittances from Nigerians living abroad were estimated at around $20 billion in 2022. This substantial increase underscores the growing importance of remittances to Nigeria’s economy. 

For 2024, remittances are projected to be between $22 billion and $24 billion, reflecting a continued rise driven by the growing number of Nigerians abroad and advancements in financial technology.

For entrepreneurs who choose to stay, and build businesses over emigration,  they might have benefited largely from hindsight, insight, and strategic analysis. In Nigeria,  key entrepreneurial opportunities lie in technology and fintech, which attract significant investment and create jobs. 

The same can also be said of  Agriculture which is contributing 25% to GDP and supporting millions, presents other opportunities. 

In Nigeria also, Renewable energy, with projected investments of $2 billion by 2025, aims to address energy deficits and generate jobs. The healthcare sector, valued at over $5 billion, can reduce import dependency and improve health. 

E-commerce and retail can drive consumer spending and modernization, while education and edtech can enhance learning and create employment.

Additionally, Nigeria’s real estate offers opportunities for urban development, and tourism and hospitality support local businesses. The fashion industry generates significant revenue, and entertainment contributes not less than $7 billion annually. 

Each sector drives economic growth and job creation. Drawing parallels with H.W. Brands’ classic “The Men Who Built America,” which explores the lives and legacies of key industrialists like Andrew Carnegie, John D. Rockefeller, J.P. Morgan, Cornelius Vanderbilt, and Henry Ford, who transformed America through their innovations and philanthropy, it is clear that entrepreneurship, despite challenges, has the potential for significant impact.

However, when considering the chains of challenges faced by entrepreneurs in Nigeria, the question arises: is their patriotism worth it? While it can not be jettisoned that entrepreneurs play an important role in building the economy, the prevailing socio-economic and political climate in Nigeria can be said to be harsh, discouraging, and potentially stifling business success. 

According to Mr. Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of Economy, over 800 companies folded due to market instability, unfulfilled promises, breaches of contracts, foreign exchange market issues, and general economic instability. 

We opined that many of these challenges are avoidable with people-centred policies and well-thought-out actions, reflecting failures in leadership and governance.

Adding to these challenges are escalating interest rates, security issues, and unplanned subsidy removal, which leave entrepreneurs at a disadvantage. Alhaji Dangote’s refinery dubbed the “6th Wonder of the World,” serves as a reference point for the potential impact of well-managed projects.

In light of the questions posed by one of Jesus Christ’s apostles, “We have left everything to follow you! What then will there be for us?” It is essential to ask what the future holds for entrepreneurs who choose to build businesses amid challenging conditions. 

For us, we are of the opinion that the government needs to enhance entrepreneurship in Nigeria by improving access to funding, addressing the fact that only 8% of startups receive venture capital, and improving infrastructure, as Nigeria’s electricity meets only 45% of demand and internet penetration is at 50%. 

Furthermore, simplifying the business registration process, which currently averages 19 days, and providing tax incentives can also alleviate challenges.

With over 40% youth unemployment, supporting skill development is essential. Expanding market access, given that only 1% of SMEs export, and encouraging innovation with R&D investments (currently 0.5% of GDP) are vital. 

Also of importance is the promotion of public-private partnerships and celebration of entrepreneurship, which can further strengthen the ecosystem, potentially increasing its contribution to GDP, which was approximately 20% in 2022.   

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24 Health Supply Chain Innovators Identified as Market Leaders across Africa https://techeconomy.ng/24-health-supply-chain-innovators-identified-as-market-leaders-across-africa/ https://techeconomy.ng/24-health-supply-chain-innovators-identified-as-market-leaders-across-africa/#comments Tue, 30 Jul 2024 08:53:55 +0000 https://techeconomy.ng/?p=138410 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 macro- economic 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, reaching around 50,000 providers (who serve hundreds of thousands of patients per day) and delivering health products to millions of consumers directly.

Kasha made news capturing Series B investment last year, and has since gone on to build its health technology access platform and report annual revenues of more than $50 million in 2023 – the highest ever recorded by Salient’s research to date.

Like Kasha, innovators that offer digitally-enabled Order and Inventory Management services to hospitals, clinics, pharmacies and drug shops appear dominant amongst the leading companies, making up 13 of the 24 featured innovations, with operations in 30 countries.

Four leading Online Pharmacies are reaching nearly 10 million customers and generating median annual revenues of nearly $9M.

The other categories featured are innovations in Product Protection and Visibility, Medical Drone Delivery and Data Analytics.

While leading innovators now appear positioned to deliver more substantive impact, they require targeted engagement from governments, donors, industry and global health institutions to transform access for unserved populations and improve the cost-effectiveness of care.

To leverage leading innovators’ models in driving increases in access, governments, industry, donors and global health agencies should: simplify regulatory pathways; explore innovators’ ability to generate cost- savings for health systems, pursuing partnerships when the evidence is strong; and evolve contracting and payment systems to enable innovators to partner in healthcare delivery systems at larger scale.

The 24 leading innovators featured are (in alphabetical order):

  1. Chefaa,
  2. DrugStoc,
  3. Field Inc,
  4. Figorr,
  5. Grinta,
  6. HealthPlus,
  7. Kasha,
  8. LifeBank,
  9. Maisha Meds,
  10. Meditect,
  11. mPedigree,
  12. MYDAWA,
  13. Pendulum,
  14. PharmaSecure,
  15. Remedial Health,
  16. RxAll,
  17. Sobrus,
  18. Sproxil,
  19. Talamus Health,
  20. VIA Global Health,
  21. Viebeg,
  22. Wingcopter,
  23. Yodawy and
  24. Zipline.

Speaking on the launch of the report, Yomi Kazeem, engagement manager at Salient Advisory, commented:

‘’The findings underscore the remarkable resilience and growing impact of African supply chain innovators. Having tracked healthtech startups for many years, the emergence of a group of leading innovators is exciting to report. Local and global public health communities must increasingly recognize and leverage the innovators in developing reliable and resilient health supply chains.”

Ann Allen, Senior Program Officer at Gates Foundation, commented:

“Technology-enabled innovations have the potential to help reverse long-running challenges in African health systems, while creating local jobs and strengthening local health markets. The report confirms innovators are increasingly positioned to deliver on this promise. However, there is more to be done as leveraging these innovations to truly transform cost-effective access for millions of unserved Africans will require concerted efforts from governments, industry and global health agencies alike.”

To download the full market intelligence report, please click here.

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Top 10 HealthTech Startups to Watch in 2022 https://techeconomy.ng/top-10-healthtech-startups-to-watch-in-2022/ https://techeconomy.ng/top-10-healthtech-startups-to-watch-in-2022/#comments Mon, 31 Jan 2022 09:25:11 +0000 https://techeconomy.ng/?p=67058 According to the World Health Organisation, healthtech or health technology in full, is the application of organised knowledge as skills in the form of devices, medicines, vaccines, procedures and systems developed to solve health problems and improve quality of lives.

It goes without saying that technology has greatly improved accessibility, affordability and the effectiveness of medical services across the globe. This has been made possible by individuals and groups coming together to decentralise products and services across countries and continents. 

Healthtech companies have brought medical services to our doorsteps, solving the issue of distance and ridiculously expensive services. Definitely not limited to these, but the top 10 health startups we are watching this year include CribMD, DrugStoc, mPharma, Chekkit, Field Intelligence, 54gene, LifeBank, BYON8, Ilara Health and Healthtracka.

1. CribMD

Top 10 HealthTech Startups to Watch in 2022 - CribMD

Inspired by the need to bring on-demand medical services closer to individuals, Ifeanyi Ossai, Ngiri Michael, and Lorna Mae Johnson founded CribMD. The telemedicine startup provides a pay-as-you-go subscription model to service patients who can also request home services.

With a goal to ensure quality, affordable, and accessible healthcare services, CribMD offers Basic, Pro, and Family plans costing $7.87, $13.11, and $49.84 monthly. 

The startup, which has raised total funding of $2,600,000, was among the five startups enlisted in the Austin-based VC fund and accelerator, 2021 Winter Batch cohort on Sputnik ATX, from which it received $100,000 in investment.

2. DrugStoc

Top 10 HealthTech Startups to Watch in 2022 - DrugStoc

A startup with over 1,500% monthly revenue growth, Chibuzo Opara and Adham Yehia founded DrugStoc to fight the spread of fake and illicit substandard drugs across Nigeria.

The eHealth startup serves as a bridge between drug companies and medical institutions, in Nigeria and has linked over 400 manufacturers to 3,200 doctors, hospitals and pharmacies, ensuring quality pharmaceutical products are delivered across the country.

With its $4,400,000 Series A funding raised in November 2021, the startup set on an expansion plan into 16 Nigerian states and subsequently into other African markets beyond Nigeria.

3. mPharma 

mPharma 

Also on a mission to increase access to quality medications, Ghanaian-based mPharma is providing innovative financing and inventory management solutions to hospitals, pharmacies and patients.

Serving the millions of underserved communities who lack access to affordable medicines, mPharma operates in six African countries, and affirms to have partnered with 155 hospitals, 850 pharmacies and drugstores and has attended to over 2,000,000 patients.

The digital health startup provides analytical data to drug companies as well as health ministries and is building an infrastructure and a drug monitoring system that connects patients, hospitals and pharmacies to cloud-based software. Via its platform, doctors get real-time information about exact locations and availability of medication interest, enabling patients get more reliable access to medicines.

4. Chekkit

Chekkit - Top 10 HealthTech Startups to Watch in 2022

Incorporated in Nigeria and the USA, Chekkit is a blockchain technology company that protects users against counterfeited goods and drugs. The company, founded in 2018 by Dare Odumade, Tosin Adelowo and Samuel Ukhueleigbe, asserts to have pharmaceutical products, protected over 200,000 consumers, and expanded its partnership with the Afghan government to verify and track over 200 million products.

Its products include ChekkitApp which enables users to verify the originality of products before purchase, report fake products and win rewards. Chekkit’s second product is Consumer Intelligence, a blockchain-secured anti-counterfeit, consumer engagement and data collection tool for consumer goods and pharmaceutical companies.

The third product is Chekkit USSD which enables users to verify original products by dialling a code that works on all networks and phones.

5. Field Intelligence 

Top 10 HealthTech Startups to Watch in 2022

Field Intelligence is focused on bringing simplicity, affordability and effectiveness to the pharmaceutical supply chain. The startup was founded in 2015 to provide services to both large health companies and drug stores, helping them provide better services and thrive well in the sector.

The company’s partners include Unicef, Bill and Melinda Gates Foundation, McKinsey & Company, Pharmacists Council of Nigeria, Clinton Health Access Initiative, Nigerian Supply Chain Integration Project, among others.

Field Intelligence has over 30,000 locations under management, also manages 2,000+ medical products, more than $1.1 billion product value managed annually and has served 75,000,000+ patients so far.

6. 54gene

54gene

Located in Nigeria and the USA, 54gene is a healthtech company that builds on innovation. Bridging the gap in the global genomics market, the startup develops diverse datasets to unlock scientific discoveries to improve diagnostic and treatment outcomes within Africa and the global community.

The healthtech startup, with $44,700,000 total funding raised so far, was launched in 2019. In partnership with US-based biotech company, Illumina, 54gene launched its genetics sequencing and microarray lab in Lagos, in September 2020 and currently has a biobank capacity for 300,000 samples, but targets increasing this in the long term.

7. LifeBank

Top 10 HealthTech Startups to Watch in 2022 - LifeBank

LifeBank leverages technology and a multi-modal distribution platform to deliver medical supplies to hospitals across Africa, with current operations in Nigeria and Kenya.

Interestingly, LifeBank uses Google Maps Platform to show the routes between blood banks, doctors, and drivers across locations; this has helped reduce delivery time from 24 hours to 45 minutes.

Backed by EchoVC Pan-Africa Fund, CcHub Growth Capital and several other investors, the startup continues to strengthen its focus in the optimisation of its blood supplies given the size, fragmentation and severity of the need. It has over 41 authenticated blood banks on its online platform and is trusted by over 500 hospitals, saving 10,401 lives so far.

8. BYON8 

BYON8 

Kenya’s BYON8 provides free symptom checkups to patients and seamless access to doctors 24/7. The company has partnered with non-profit organisations, ventures, universities and health industry leaders to guarantee great service provision for users.

The company was built on a goal to make high-quality healthcare more accessible, affordable and equal by digitizing healthcare on an individual level. 

One of its products, BYON8 PRO, allows users to interact with a network of quality healthcare professionals with the highest of standards. 

9. Ilara Health

Top 10 HealthTech Startups to Watch in 2022 - Ilara Health

Kenyan healthtech, Ilara Health leverages tech-powered diagnostic devices to save lives by making the service accessible and affordable to over 500,000,000 people who struggle to gain access to even basic medical services such as blood tests.

The company has partnered with over 800 clinics, has five medical labs, administered 100,000+ tests to over 100,000 patients.

In 2020, Ilara Health received a $1,100,000 grant from the Bill & Melinda Gates Foundation to develop effective antenatal care (ANC) interventions and tech-based solutions for pregnant women unable to access essential services during the COVID-19 pandemic. In December of the same year, the company raised $3,750,000 in Series A funding to further strengthen its goal.

10. Healthtracka

Healthtracka

Healthtracka is a fast-growing e-health platform offering home services including health tests with understandable diagnostic test results presented to patients digitally and without time wastage.

The Techstars Toronto-backed startup has laboratory partners who it affirms to be the best private pathology laboratories at the forefront of diagnostic testing in Nigeria, with ISO and MLSCN certifications. 

Included in its home services, the startup provides customers with a wide range of testing options and clinical services, empowering users to take an active role in their health in order to have a longer life span.

Which of the top 10 health startups we are you standing up for?

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