Salient Advisory: 29% of Africa’s top HealthTech innovators based in Nigeria

Nigeria is solidifying its position as a frontrunner in the HealthTech innovation sector, with a recent report from Salient Advisory revealing that 29 percent of Africa's top HealthTech innovators are based in the country. Yomi Kazeem, the Engagement Manager at Salient Advisory, emphasized the importance of recognizing and harnessing the potential of these innovators within both local and global public health communities. The report sheds light on the emergence of leading innovators who are poised to make a significant impact on a larger scale, collaborating with governments and global health agencies to enhance health supply chains and drive improved health outcomes. Nigeria has particularly stood out in this regard, with a growing number of innovations being integrated into the country's public healthcare delivery systems at national and state levels. This trend signals a maturing ecosystem that is attracting investor attention and fostering increased investment in the HealthTech space. The report underscores the critical role of partnerships between the public and private sectors in leveraging HealthTech solutions to address macroeconomic challenges and boost public health outcomes. Government engagement is pivotal, given its significant purchasing power and influence in the sector. While challenges such as payment delays and bureaucratic hurdles persist in government collaborations, the report advocates for the establishment of revolving funds to mitigate risks and facilitate more seamless partnerships. By aligning private sector innovators with government priorities and optimizing regulatory frameworks, these partnerships can drive innovation, scalability, and sustainable impact in the HealthTech landscape. Moreover, the report highlights the importance of simplifying regulatory pathways and maximizing cost savings in health systems through innovative solutions. Balancing social impact with commercial viability remains a key focus for HealthTech innovators, with success stories like the case study of Cash recording substantial revenues and demonstrating the sector's potential for growth. As the industry continues to evolve, innovators are called upon to navigate regulatory complexities, leverage data analytics, and explore emerging technologies like medical drone delivery for enhanced efficiency and visibility in healthcare delivery. Looking ahead, the future of HealthTech promises continued growth and innovation across various sectors, including product protection, drone technology, and data analytics. With five broad categories identified for potential growth and impact, the sector is poised for further expansion and investment as stakeholders recognize the transformative power of HealthTech solutions in driving public health advancements. By staying agile, responsive to regulatory changes, and focused on delivering tangible social benefits alongside financial returns, HealthTech innovators in Nigeria and across Africa are set to shape the future of healthcare delivery and outcomes on the continent.