Moniepoint Inc., a digital financial institution, is extending its innovative payment solutions to community pharmacists across Nigeria, aiming to enhance access to essential medications. The microfinance bank has also provided loans to pharmacists under the Association of Community Pharmacists of Nigeria (ACPN) to support and improve healthcare delivery in the country.
In its latest case study titled “Inside Nigeria’s Community Pharmacies: How Moniepoint Drives Healthcare Access with Payments and Funding,” Moniepoint emphasized its commitment to using digital payment technology to improve health outcomes. The report, released at the ACPN headquarters in Lagos, highlighted the vital role community pharmacies play in providing medical care, particularly in regions with limited access to hospitals or clinics.
ACPN National Chairman, Ambrose Igwekwam, praised the important contributions of community pharmacies to Nigeria’s healthcare system. However, he expressed concerns over the various challenges facing the pharmaceutical industry, which hinder access to affordable medication. These challenges include poor infrastructure, power and transportation issues, regulatory hurdles, dependence on imported drugs, and limited research opportunities.
Igwekwam stressed the importance of collaborations with institutions like Moniepoint to strengthen the sector. He noted that as Nigeria’s population continues to grow, improving local pharmaceutical manufacturing to meet demand presents a significant opportunity for the country. He also pointed to the African Continental Free Trade Area (AfCFTA) as a potential driver for boosting Nigeria’s pharmaceutical industry, especially through local drug production and increased export revenue.
“We are also witnessing advancements in digital health and technology, which are expected to deepen the practice of e-prescription in Nigeria,” Igwekwam added. He highlighted the ACPN’s role in promoting public health, noting that with over 6,000 community pharmacies across Nigeria, these pharmacies handle around 480,000 daily visits. Beyond dispensing medications, pharmacists offer essential healthcare advice, preventive care, and serve as trusted healthcare providers within communities.
Dr. Benjamin Olowojebutu, the First National Vice-President of the Nigerian Medical Association (NMA), underscored the importance of addressing healthcare needs in rural and underserved areas. He commended ACPN for its collaboration with Moniepoint, describing the partnership as forward-thinking and vital for addressing healthcare challenges in Nigeria.
“Nigeria’s population is predominantly rural, so we must find ways to reduce rural-urban migration and promote balanced development across the country,” Dr. Olowojebutu remarked. He also expressed confidence that Moniepoint’s case study would inspire new research and funding initiatives aimed at enhancing healthcare accessibility.
Moniepoint’s efforts to provide financial and technological support to Nigeria’s community pharmacies represent a significant step in improving the overall healthcare infrastructure and access to essential medicines. Through these initiatives, Moniepoint and its partners aim to bridge gaps in healthcare access, particularly for underserved communities across the country.
