MoniePoint Inc., a digital financial institution, says it provides innovative payment solutions to community pharmacists across the country to improve access to medicines.
The microfinance bank said it also provides loans to pharmacists under the aegis of the Community Pharmacists Association of Nigeria to facilitate access to healthcare in the country.
In its latest case study titled “Inside Community Pharmacy in Nigeria: How Moniepoint advances healthcare access through payments and funding,” the financial institution explores digital payment solutions that improve health outcomes in Nigeria. We reaffirmed our company’s commitment to providing the following.
A study recently released at the ACPN headquarters in Lagos explores how community pharmacies play an important role as critical access points to healthcare in Nigeria, especially in areas with limited access to hospitals and clinics. We investigated whether there were any.
Reacting to the study, ACPN National President, Ambrose Igwekwam, highlighted the important role that community pharmacies have played in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concern over the challenges facing the country’s pharmaceutical industry, saying it was hindering access to affordable medicines.
The pharmacist cited poor infrastructure systems, power, transportation, regulatory bottlenecks, import dependence and limited research opportunities as major challenges facing the pharmaceutical industry.
He emphasized the need for strong collaborative efforts with institutions like Monypoint to strengthen this sector.
The ACPN leader said: “As Nigeria continues to grow, improving local pharmaceutical manufacturing to meet the demands of this growth is an important opportunity for all of us.
We also have the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially as exports will bring us much-needed foreign exchange, especially once we start producing medicines locally.
“We are also seeing advances in digital health and technology, and we look forward to further deepening the practice of e-prescribing in Nigeria.”
Mr. Igwekwam noted that with an average of 480,000 people visiting Nigeria’s more than 6,000 community pharmacies every day, ACPNs play a critical role in Nigeria’s health system as frontline workers.
He said pharmacists promote public health and well-being by not only dispensing medicines but also providing valuable advice, counseling and preventive care as trusted health care providers within the community.
In his address, Dr. Benjamin Olowojebutu, the first National Vice-President of the Nigerian Medical Association, explained the importance of addressing the health needs of people living in rural and underserved areas across the country.
“Nigeria’s population is more rural than urban, so how can we reduce rural-to-urban migration and intra-urban migration, which are equally prevalent? ?How can we reduce uneven development across the country?
“I must commend ACPN’s leadership in working with forward-thinking and thought-leading organizations like Moniepoint to produce this insightful report. “We believe this will help us understand how we can influence health care funding,” he said.
