- February 25, 2016
- Posted by: ABO Capital
- Category: Publications by Zandre Campos
Right now health insurance in Africa constitutes a tale of two continents. The very affluent can take advantage of private insurance with top-tier doctors and hospitals. However, many families rely on crowded state-run facilities, with long wait times and not always the best of care or they have to pay out of pocket for medical services. The current situation leaves a huge gap in the middle. In order to make a difference different parties need to unite and start utilizing technological advances that exist in today’s marketplace.
The market for healthcare in Africa is worth some $35 billion, according to McKinsey. About half of Africa’s health expenditure is estimated to come from out-of-pocket payments. With patients paying over the counter, a sudden health crisis can cause severe financial hardship for families. And the cash economy can allow counterfeit medicines and unlicensed dispensaries to flourish.