Africa is abundantly “blessed” with problems that disguise huge and remarkable business opportunities.
Healthcare in Africa is one of such problems.
With poorly funded and ineffective public hospitals, and a significant brain drain of African doctors to the West, it’s easy to write off the continent’s healthcare market.
Africa has 11 percent of the world’s population but bears 25 percent of the world’s disease burden. This is exactly why Africa presents a huge demand (and opportunity) for healthcare services.
Dr. Maxwel Okoth is the founder of the Ruai Family Hospital in Kenya.
In the short interview below, he explains how during his internship after medical school, he experienced firsthand the problems people face with access, affordability, and availability of healthcare in his country.
He felt a deep urge to do something about this problem.
Armed with only his vision, a strong determination and just about US$ 3,000, he started his healthcare venture as a small outpatient center.
Today, that small healthcare venture has become a 50-bed hospital that serves the low-end of the market.
Over the next 5 years, he plans to spread his concept across Kenya, and tap into the growing market for health tourism in East Africa.
He is already setting up a 100-bed multi-specialty hospital which will ill have a cancer center, radiology center, pediatric unit, and several other specialties
And sometime in the future, he wants to take his company public on the Nairobi Stock Exchange.
Africa will continue to reward the doers, risk-takers and entrepreneurs who embrace opportunities where others fear problems.
Let’s go, Africa!