The shift to private sector investments in health technology is critical for boosting Africa's digital economy.
This is according to Yosuke Kaneko, CEO and founder of SORA Technology, a Japanese health-tech start-up that uses drones and artificial intelligence to address pressing issues including infectious illnesses and climate change.
Kaneko tells ITWeb Africa that, despite public sector investments, more money is required as Africa's economy grows rapidly; hence, the private sector plays an important role in the digital economy.
This comes as the company recently raised $4.8 million to advance climate and health solutions in the continent.
“The economy (digital) is undergoing rapid growth. Now (despite public sector funds) is the time to turn to private sector money. That's why we're using the venture capital,” says Kaneko.
In terms of technology, he believes that innovative solutions will be implemented first in Africa and then in the global south, rather than the global north.
He cites the continent's increasing digital infrastructure as a catalyst, saying that it facilitates data collection for research and leads to innovative solutions.
Kaneko explains: “I believe new technologies and the real implementation will be started in Africa and also global south, not Japan, the UK, the US, and the global north countries. My understanding is that Africa is the best starting place for data collection and also for creating a new digitalised business.”
With a foothold now established in Ghana, Sierra Leone, Benin, the Democratic Republic of the Congo, Senegal, and Kenya, Kaneko says the company has set its sights on some of Africa's major economies, with Nigeria potentially being the next target.
“We started from the Western Africa and also the small countries like Sierra Leone. Then we already succeeded with the proof of concept level testing in Ghana. We are moving to bigger countries," says Kaneko.
Moving on to the regulatory environment, he argues that from an investment standpoint, the African market is difficult to manage, but it has enormous promise.
“That is why I'm investing; the whole regulation side depends on each country. On the other hand, the more under-developed countries are slightly difficult to navigate in terms of investment, but we are a start-up company, we can take a risk, it is a trade-off,” he concludes.
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