crypto market
|
|
|
|---|---|---|
|
Bitcoin |
$16,955 |
– 1.18% |
|
ether |
$1,256 |
– 1.14% |
|
BNB |
$285 |
– 1.30% |
|
FTX token |
$1.52 |
+ 2.22% |
|
coin name
coin price
24 hour rate of change |
sauce:
|
|
* Data as of December 12, 2022 03:43 AM WAT.
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Dope Rewards season is upon us
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TC Insights: Making Africa Healthy
By 2030, Africa’s healthcare sector will be worth a whopping $239 billion. However, government spending in this sector is below the WHO benchmark of 5% of GDP. In most countries, health care costs are largely personal, rising to an average of 50% in some countries and as high as 70% in places like Nigeria. Out-of-pocket spending accounts for a large percentage of private healthcare funding sources.
As a result, Africans with little or no financial resources cannot access health services, putting further pressure on already stretched government services. For some time, charities have helped bridge this gap, providing medical services to people living in rural areas of the continent. Despite their efforts, health indicators such as doctors per 1000 and bed space remain very low.
As technology advances, opportunities arise to make more efficient use of scarce resources. According to Chefaa co-founder Dr. Rasha Randy, “Africa’s healthcare services gap is huge, leaving an opportunity for his health tech startup to fill.”
There is currently no central system for players within the healthcare sector to aggregate and track patient data. This lack of data leaves providers with a limited view of a patient’s medical history. According to the Endeavor Nigeria Inflection Report, this situation hinders the development of tailored prevention strategies and advanced treatments, which in turn limits the efficiency of services.
Facing these key issues limiting the sector’s potential, healthtech start-ups have been able to bring healthcare services to Africans at low cost. Still, the journey isn’t over yet. Across the healthcare value chain, there is a need to increase collaboration among startups operating in different sectors. Similarly, policies that encourage novel innovation should be encouraged to make them attractive to investors.
Technology can help solve decades of inefficiency in healthcare in Africa by enabling healthcare providers to better serve people, thereby easing the burden on governments. The increase in VC funding into the sector over the last five years is reason enough for optimism.
Africa has an opportunity to build on this and strengthen these innovators.
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