Africa’s fastest growing financial institution, according to the Financial Times, Moniepoint Inc., has stated its commitment to drive healthcare access in Nigeria by empowering community pharmacies with innovative payment solutions and working capital.

This is coming on the back of the release of its latest case study titled, ‘Inside Nigeria’s community pharmacies: How Moniepoint Drives Healthcare Access With Payments and Funding,’ which examines how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital/clinic access and Moniepoint’s solutions in helping to address the prevalent challenges through digital payment solutions, loans and a wide distribution network.

At the official release of the case study, held in Lagos at the National Headquarters of the Association of Community Pharmacists of Nigeria, (ACPN), the National Chairman of ACPN, Ambrose Igwekwama, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.

Igwekwama also noted the many challenges facing community pharmacies, which include poor infrastructural system – power, transportation, regulatory bottlenecks, importation dependency, limited research opportunities, while stressing on the need to strengthen collaborative efforts with institutions like Moniepoint in order to improve health outcomes across the country.

Furthermore, the National Chairman is enthused about the growth opportunities ahead for the nation’s pharmaceutical sector.

“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all. There is also the African Continental Free Trade Area Agreement which is expected to boost our industry, especially when we start producing our drugs locally which will provide the much needed foreign exchange from exports. “We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria,” he said.

With an average of 480,000 daily footfalls across over 6,000 community pharmacies in Nigeria, the ACPN plays a vital role in Nigeria’s healthcare system as front-line workers who promote public health and wellbeing, beyond dispensing medications as they serve as trusted healthcare providers within communities, offering valuable advice, counsel and preventive care.

In his goodwill message, First National Vice-President, Nigerian Medical Association, Dr Benjamin Olowojebutu, harped on the imperative of catering to the health needs of those living in rural and underserved areas across the country.

“Nigeria’s population is more rural than urban, so how do we reduce the rural-urban migration and intra-urban migration which has also become pervasive? How do we reduce uneven development across the country?

“I must commend the leadership of ACPN for collaborating with a forward-thinking, thought-leading organisation like Moniepoint to produce this insightful report. I am confident that this work would help us as Nigerians to see how we can channel research to affect funding for healthcare,” he said.

The Moniepoint case study on community pharmacies provides insightful commentary on critical aspects of running a community pharmacy, including payment systems, inventory management and funding challenges.

It reveals a shift towards digital payments while exploring challenges around limited access to capital for stocking inventory and expansion, sourcing quality drugs, particularly given the high proportion of imported pharmaceuticals and the prevalence of counterfeit medications.

Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).