MyDawa secures $20m capital injection to deepen regional investments

The pharmaceutical business in the East African region is experiencing significant growth as global capital continues to flow into the industry. CNBC Africa recently had a discussion with Neil O'Leary, Chief Executive Officer of MyDawa Group, to explore some of the emerging trends in the pharmaceutical sector. MyDawa Group, which has been operational for about six to seven years, is witnessing robust customer attraction and brand acceptance, driving the need to accelerate growth not only in Kenya but also across the rest of East Africa. O'Leary highlighted that despite fluctuating market conditions influenced by factors like COVID-19 and living costs, the healthcare sector remains resilient as individuals prioritize self-care and seek value for money and easy access to information. Kenya has emerged as a key growth market for MyDawa Group, with the company striving to meet customer needs and establish a strong presence. The recent expansion into Uganda through the acquisition of Guardian, the largest pharmacy chain in the country, underscores MyDawa Group's commitment to bolstering its footprint across East Africa. By leveraging a digital platform, MyDawa Group aims to provide customers with a seamless experience by offering both medical products and professional advice online or via phone consultations. O'Leary emphasized the importance of combining quality advice with convenient access to products at competitive prices, aligning with evolving customer preferences in the region. The pharma business in East Africa is witnessing a shift towards greater customer empowerment and demand for tailored healthcare solutions. O'Leary stressed the need for local businesses to cater to African patients' unique requirements, given the challenges faced by large pharmaceutical companies in servicing smaller African markets. By focusing on delivering reliable advice and products promptly and affordably, MyDawa Group aims to position itself as a trusted healthcare partner for individuals seeking personalized and cost-effective solutions. In light of the recent capital injection of $20 million, O'Leary highlighted the importance of effective leadership, market responsiveness, and prudent execution to sustain growth momentum. By nurturing a diverse team that combines experience with innovation, MyDawa Group aims to optimize its operational efficiency and uphold its customer-centric approach. O'Leary acknowledged the significance of leveraging past experiences, learning from mistakes, and consistently delivering value to stakeholders to ensure long-term success. Looking ahead, O'Leary envisions a future where MyDawa Group plays a pivotal role in enhancing access to affordable healthcare services, particularly amidst challenging macroeconomic conditions and rising consumer spending. Despite economic uncertainties and inflationary pressures, O'Leary emphasized the company's commitment to providing unparalleled value for customers by offering round-the-clock medical consultations and prompt product deliveries. By prioritizing customer convenience, safety, and affordability, MyDawa Group aims to set new standards in the pharma industry and contribute to improving healthcare outcomes in the region. Furthermore, O'Leary addressed the issue of counterfeit pharmaceuticals, emphasizing MyDawa Group's rigorous efforts to combat this threat. Through stringent quality control measures, product authentication processes, and collaboration with regulatory authorities, MyDawa Group seeks to ensure the safety and authenticity of its offerings. By instilling confidence in consumers through a transparent and secure supply chain, MyDawa Group aims to mitigate the risks associated with counterfeit drugs and reassure customers of the quality and efficacy of its products. As the pharmaceutical sector continues to evolve in East Africa, MyDawa Group remains committed to innovation, customer-centricity, and integrity, positioning itself as a leading player in the region's healthcare landscape.