DRC lures global investors to tap country’s nascent healthcare

The Democratic Republic of Congo (DRC) is on a mission to entice foreign direct investments into vital economic sectors to drive the country's progress. In a recent interview with CNBC Africa, Emma Knox, CEO of Vitality Health International (VHI), a subsidiary of the Discovery Group, shared insights into the investment landscape in the Congo. VHI, an expansion of Discovery Group, has been making waves globally for the past 20 years with a presence in 40 countries and covering 40 million lives. The expansion of VHI aims to extend health insurance with a focus on wellness throughout Africa. Knox revealed that VHI commenced operations in the DRC in January last year, marking its presence in five African countries, including Nigeria, Kenya, Zambia, and Mozambique, in addition to South Africa. With the vast population in the DRC exceeding 95 million, Knox highlighted the significant health challenges faced by the country, including a dual burden of infectious diseases like malaria and the rise of non-communicable diseases such as heart disease and diabetes, accounting for up to 40% of deaths. VHI's unique health insurance model prioritizes prevention and access to care, offering a potential solution to the country's health needs. Discussing the investment scope in the DRC, Knox emphasized the promising growth potential of the health insurance sector, fueled by recent legislation opening up the market to providers. Partnerships with established entities like Medical Service Operations International and Raw Saw are key elements in expanding VHI's reach in the country. Knox noted the growth in the corporate sector in the DRC, with employers mandated to cover healthcare costs for their staff, presenting a promising landscape for private health insurance growth. Despite the challenges posed by a nascent market and low insurance penetration, Knox remains optimistic about VHI's ability to make a positive impact on people's lives by enhancing access to healthcare and promoting wellness. Moreover, she outlined strategic partnerships with companies like Garmin, Vodacom, and Goodbye Malaria to incentivize healthy behavior and improve disease prevention and treatment in the country. The DRC's healthcare sector is poised for transformation, with VHI leading the way in leveraging partnerships and innovative approaches to address the population's healthcare needs.