Moniepoint empowers pharmacists with payment solutions

Digital financial institution, MoniePoint Inc. says it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.

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 Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.

Igwekwam, 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.”

Igwekwam 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 of the 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.