Over the past decade or two, the health entrepreneurship space in Kenya has seen continued growth, with its evolution being driven by a combination of factors, including technological innovation, investment opportunities, supportive policies, and the growing demand for healthcare services. As the sector continues to grow and mature, health entrepreneurs can make significant contributions to improving health outcomes and transforming the healthcare landscape in Kenya.
As health entrepreneurs’ endeavor to grow their business one of the major challenges they face is access to capital, mainly because health enterprises are labeled as high-risk businesses mainly due to various reasons such as: the complex and dynamic nature of the healthcare industry, including regulatory uncertainty, clinical and scientific uncertainties, long development timelines, market dynamics and competition, and reimbursement and payment risks.
It is against this backdrop that Strathmore University Business School and SNDBX Capital came together to design the Health Enterprise Financing Programme (HEFP). The Programme, which was officially launched on Thursday, 29th February 2023 marked a significant milestone for healthcare entrepreneurs in Kenya.
Prof. Gilbert Kokwaro, the Director of the Institute of Healthcare Management at SBS noted that the health sector in Kenya is ailing from two main issues: the inadequate allocation of resources and the misuse of the allocated resources. There is a need for a rethink in the resourcing of the healthcare system.
Mr. Wohoro Ndohho, CEO of SNDBX Capital, highlighted the Programme’s objective of bolstering the capabilities of owner-managers of private commercial and non-profit hospitals to access investments and debt financing.
This innovative initiative represents a fusion of Sandbox Capital’s Path-to-Finance SME business De-Risking model with Strathmore University’s expertise in health systems management, tailored specifically to Africa’s healthcare business ecosystem. By bridging the gap between investors, lenders, healthcare entrepreneurs, and practitioners, this program aims to catalyze sustainable growth and development in the healthcare sector.
The launch event also featured an enlightening panel discussion on the Future of Health Financing in Kenya, featuring distinguished professionals from various sectors, offering invaluable insights into the evolving landscape of healthcare financing.
The Institute of Healthcare Management at SBS is one of the research hubs within SBS circa 2011/12. It hosts the only MBA and PhD in Healthcare Management in Africa and is a member of the prestigious Business School Alliance for Healthcare Management. IHM has also developed and run many executive education courses for healthcare leaders and managers.
Article by Juliet Hinga
Share This Story, Choose Your Platform!
Your journey to business excellence starts here. Subscribe today and be at the forefront of innovation and leadership.
