Angela Onwuzoo
In a move to improve access to drugs, digital financial institution, MoniePoint Inc. says it is empowering community pharmacists across the country with innovative payment solutions.
The microfinance bank said it had also provided loans for the pharmacists under the aegis of the Association of Community Pharmacists of Nigeria to drive healthcare access in the country.
The financial institution in its latest case study titled,” Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The study released at the ACPN headquarters in Lagos recently examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
Reacting to the study, ACPN National Chairman, Ambrose Igwekanma, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekanma, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said were hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.,
The ACPN leader noted, “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.”
Igwekanma pointed out that 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.
According to him, pharmacists promote public health and well-being, beyond dispensing medications as they serve as trusted healthcare providers within communities, offering valuable advice, counsel, and preventive care.
In his remarks, the first National Vice-President, Nigerian Medical Association, Dr Benjamin Olowojebutu, explained the importance 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 very insightful commentary on critical aspects of running a community pharmacy, including payment systems, inventory management, and funding challenges.
Giving insight into the report and its relevance to the nation’s healthcare segment, Vice President, Corporate Affairs, Moniepoint Inc., Didi Uwemakpan, noted that the study seeks to deepen policy engagement, provide actionable intel on critical successful factors needed for the nation’s socio-economic growth across different verticals.
Uwemakpan noted, “We are pleased to partner with ACPN on this game-changing report. Moniepoint’s reason for being is to create financial happiness and power dreams.
Reports like this move us in that direction, enabling us to save lives as a result of a fast, reliable payment system that everyone has come to love.
“Looking at the relevance, with data on their business transactions and our business management tools, community pharmacies can effectively plan their inventory and
availability—knowing exactly when to stock up and ensuring staff are on the ground to serve more customers.
“By providing pharmacies with the financial tools they need, Moniepoint is creating a future where access to healthcare is improved and represents more than a fundamental right for all in an equitable and efficient system.”
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