The investment case for digital health in Africa

In the quest for Universal Health Coverage and the World Health Organisation's triple billion targets by 2030, Africa finds itself at a pivotal moment in the digital health revolution. The intersection of public policy and private capital is shaping the continent's healthcare landscape. Taofik Oloruko-Oba, Country Manager, Kenya, and Head of East Africa Network at Roche Diagnostics, delved into the investment case for digital health in Africa during a recent interview with CNBC Africa. With a focus on reducing the cost of care and expanding opportunities for health tech investors, the conversation explored the real returns, both financial and social, as well as the transformative impact of digital health innovation. The discussion highlighted key insights into the potential for leveraging technology to drive sustainable progress in healthcare across the continent. At the core of this dialogue was the exploration of how the digital health revolution could catalyze a paradigm shift in healthcare delivery, propelling Africa towards a future of improved health outcomes and enhanced well-being. As Africa embraces the exponential growth of technology, the integration of digital solutions holds the promise of addressing longstanding healthcare challenges and driving inclusive development. From telemedicine to data analytics, the interview shed light on the multifaceted opportunities presented by digital health in Africa. The potential for leveraging data as a foundational element in healthcare transformation was a central theme in the discussion. With estimates projecting the market size of big data in healthcare to reach substantial figures by 2035, the financial prospects of digital health solutions are significant. In Kenya alone, projections suggest a range of $400 to $2.5 billion in data-related value, underscoring the vast economic opportunities inherent in digital health innovation. However, beyond financial gains, the conversation underscored the profound societal impact of digital health advancements. The convergence of technology and healthcare has the potential to drive positive social change, impacting individual well-being, community resilience, and national development. With a focus on leveraging Africa's youthful population and innovative capacity, the dialogue highlighted the transformative power of digital health to drive inclusive progress across the continent. From enhancing diagnostic capabilities to streamlining healthcare delivery, the integration of digital solutions offers a pathway to building healthier and wealthier societies in Africa. The interview also delved into the role of algorithms in addressing barriers to scale and fostering policy initiatives in healthcare. By harnessing algorithms for telemedicine, remote training, and diagnostic support, Africa stands to bridge the healthcare divide between urban and rural areas, expanding access to quality care and strengthening healthcare systems. The potential for scalability and impact through technology-driven solutions was a central point of discussion, underscoring the need to accelerate the adoption of innovative practices in healthcare delivery. As Africa navigates the dynamic landscape of digital health innovation, the investment case for transformative impact and sustainable growth is clear. Embracing the digital health revolution presents a unique opportunity for Africa to unlock its full potential and drive progress towards universal health coverage and improved health outcomes. By leveraging technology, data, and innovation, Africa can chart a new course in healthcare delivery, shaping a future where digital health drives inclusive development and societal well-being.