Access to essential medicine is a prerequisite for basic healthcare. Yet, patients in Africa, especially those among more vulnerable groups, often find it difficult to access the drugs that they need.
As a result, it is estimated that the rate of deaths from communicable diseases is higher in sub-Saharan Africa than in the rest of the world.
Beyond the shortfall in local production, disjointed supply chains often translate into constrained access to the required medications. In the context of national health systems, challenges range from a limited healthcare workforce to inadequate forecasting, insufficient funds, and delayed lead times.
Growing focus from regional governments on the well-being of their citizens, coupled with the increasing demand for medicine, presents a significant opportunity for local businesses within the pharmaceutical industry.
Indeed, the African market is expected to grow at a compound annual rate of 3.4 percent between 2024 and 2030.
However, small pharmacies, which play a critical role in health systems across the continent, often lack the financial resources and infrastructure to operate efficiently.
Many small businesses are without access to credit, limiting their ability to invest for growth. They also face challenges in maintaining adequate stock levels, investing in technology, and providing comprehensive services, limiting their growth potential and ability to contribute towards sustainable health solutions for the communities in which they operate.
Recent breakthroughs in artificial intelligence (AI) present a turning point for such businesses and can transform many aspects of how small pharmacy businesses work and help them address some of their growth hindrances.
Among other benefits, AI could improve their chances to access financial services, optimise their processes and improve their service delivery. This, in turn, could have a powerful effect on national healthcare provision, including the availability of medicine.
Without a doubt, effective AI integration has opened the door to more advanced capabilities, from expiry date and inventory forecasting to demand prediction, and optimised inventory management processes.
In summary, we hope to continue transforming the outlook and economic contribution of local pharmacies, not only through enabling them to contribute positively to the availability of essential medicines across East Africa, but at the same time having a positive impact on much-needed small business development and job creation.
