Why Does African Health-Tech Have a Funding Problem?
African health tech is a hard business. Everyone across the continent faces the same challenges: funding, scaling and making profit. No one seems to have hacked it, and the problem is not a lack of innovation.
2021 was a record-breaking year for African startups, and depending on who you ask, they raised between $4.5 billion and $5 billion. But health-tech startups got less than 10% of the pie. The same thing happened in 2022. However, it’s not just a ‘tech’ problem. Public healthcare is one of the most underfunded sectors in Sub-Saharan Africa.