In an effort to tackle Africa’s escalating health challenges and enhance global health outcomes, key stakeholders have called for increased investment in scalable, Africa-led health innovations, including artificial intelligence (AI), mobile health solutions, and pharmaceutical research.
This was announced during the launch of the HealthTech Unicorns Report 2.0, themed “From Insights to Impact: Building Africa’s Next HealthTech Unicorn”, organised by HealthCap in Lagos.
Speaking at the event, Managing Partner of HealthCap Africa, Dr. Ola Brown, stressed the urgent need for affordable, technology-driven healthcare models. Drawing from her personal experience in emergency medicine and venture capital, she highlighted how rising global health costs have made access difficult for governments, insurers, and individuals. She noted that health expenses are the leading cause of bankruptcy worldwide, underscoring the importance of innovation in reducing costs and expanding access.
In an effort to address alarming health statistics—such as Africa accounting for nearly 70 per cent of global maternal deaths—Brown encouraged investment in tech-enabled health solutions created by Africans for Africa and beyond. With over a billion smartphones on the continent, she drew parallels between Africa’s mobile money revolution and its potential for digital health transformation.
She also observed that clinical trials in Africa are up to ten times cheaper than in the United States, making the continent a competitive arena for pharmaceutical innovation. According to her, HealthCap is prioritising ventures with cross-border scalability and long-term global relevance.
Collaborator-in-Chief of TVCLabs, Mr Tomi Davies, championed strategic funding in Africa’s health-tech sector, arguing that building a billion-dollar company in Africa costs half of what it does in America.
He emphasised that although Africa bears 25 per cent of the global disease burden, it receives just one per cent of global healthcare spending, a disparity he believes investment and innovation can help bridge.
Davies further noted that by the year 2100, Africa will be home to nearly four billion people and five of the world’s ten largest cities. In light of this, he urged innovators and funders to think globally while addressing local challenges.
