Funmi Adewara - Afrikan Heroes

Mobihealth Secure New Funding To Deploy E-health Service In Africa

October 23, 2022

The United States Trade and Growth Agency (USTDA) has awarded a grant to the Nigerian business Mobihealthcare Limited (Mobihealth) for a feasibility study targeted at assisting the development of its telehealth in Côte d’Ivoire, Ghana, Kenya, and Egypt.

The partnership aims to “transform the delivery of health care to underserved communities in Africa, using the best technology that American industry has to offer […] it is also gratifying to see women-led companies like Mobihealth leading the development of critical infrastructure on the continent,” according to Enoh T. Ebong, Director of USTDA.

While the value of the contribution has not been disclosed, the press release states that each of the four nations will receive a full market evaluation, financial analysis, and legal and regulatory study. The African Development Bank’s Africa Investment Forum (AIF) will collaborate with USTDA to promote the development and funding of the Mobihealth project.

A year ago, USTDA and AIF inked an MOU to support high-quality infrastructure solutions in Sub-Saharan Africa. The Memorandum of Understanding established areas of collaboration on transactions in critical industries such as clean energy, transportation, information and communication technology, health infrastructure, and agribusiness.

The project is also part of the US government’s “Prosper Africa” effort, which aims to dramatically enhance two-way commerce and investment between the US and Africa, according to the statement. The agreement will enable 100,000 Africans gain access to healthcare each year.

For Mobihealth CEO Funmi Adewara. “The USTDA award comes at an opportune moment, and it will enable us to expand the reach of our integrated telehealth, electronic medical records, and digitalization services to many additional African markets over the next few years.”

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Africa Delivered Largest Profits On Investment For British Companies Than Elsewhere In The World — New Report

February 7, 2020

British companies have made bigger profits investing in Africa than in any other region of the world, according to a new report from the Overseas Development Institute (ODI), which urges firms to seek profits on the continent rather than seeing it as a place to do charitable work.

Here Is All You Need To Know

With 1.2 billion people and eight of the world’s 15 fastest-growing economies, the ODI says Africa offers world-beating returns on investment.
The report looks at investment by British firms in Ghana, Kenya, Nigeria and South Africa. Its authors say the “young population, growing middle class, and planned industrial growth make the continent a great place to do business.”
In 2019, the rate of return on all inward foreign direct investment in developing African countries was 6.5 percent, higher than the rates in developing Latin America and the Caribbean at 6.2 percent, and also higher than the 6 percent return in developed economies.
The report was published as Britain formally left the European Union on January 31. The government repeatedly has said its ambition is to create a “global Britain” with new trading partners beyond the European continent. As part of the effort to court new partners, London hosted the Britain-Africa Investment summit last week.

Investment in Africa

African entrepreneurs are seeking investment in proprietary technology. Mobihealth is a mobile app that seeks to offer top-level health care access across Africa. Founder Funmi Adewara believes Britain’s expertise in finance could help.

“Ninety percent of our doctors are from Western countries, 10 percent from the rest of Africa,” Adewara said. “They provide video consultation, prescriptions, diagnostic tests. We are looking here to connect with people who can help us to scale up our business and take this global.”

The secretary-general of the United Nations Conference on Trade and Development, Mukhisa Kituyi, said in a recent interview that African nations need to work harder to attract investment.

“We need to develop this human resource as a contribution to the world’s economy, we need to create the conditions to make Africa the next factory of the world. Then you can say, can Britain step in, just like any other friend of Africa, and offer some of the solution?”

Britain says it can offer solutions. Many analysts warn, however, that negotiations over its future relationship with Europe likely will dominate trade talks in the coming months and years.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com