Entrepreneur Pascal Mukadi working to build African healthcare infrastructure
With the launch of the African Continental Free Trade Agreement (ACFTA), Africa has entered a bold new era – the dawn of the regional common market. Yet, without a continent-wide embrace of universal healthcare, Africa will never realize its full economic benefits.

This is according to Pascal Mukadi, Executive Chairman of the Medical Fund Management (MFM) – a Johannesburg-based firm which manages healthcare funds & medical travel logistics.

“African governments have not fully understood the importance of healthcare in driving our economic growth” warns Mukadi. “Over the long term, we won’t be able to enjoy a fully-fledged African Common Market without strengthening national healthcare systems.”

A serial entrepreneur who has travelled widely throughout Africa, Mukadi says that healthcare systems are routinely ignored among those who plan the continent’s growth strategies. This is a big mistake, he cautions.

“We talk a lot about building infrastructure for transport, manufacturing & telecommunications – but very little about fortifying Africa’s healthcare infrastructure. However, weaknesses in our healthcare systems have the potential to derail our economic progress”.

With 54 nations having signed on to ACFTA, Africa looks set to become one of the world’s largest free trade areas, with an estimated value of over US $2.2 trillion per annum – and a marketplace of 1.2 billion consumers. Once it has come into full effect, the pact will see free movement of goods, services & people across the continent – with tariffs & visa requirements eliminated or drastically curtailed.

The vision conceived of by the forefathers of African independence – the vision of a united Africa – will have come closer to fruition.

Yet, widespread lack of healthcare access continues to cripple the lives of millions of Africans, who have the shortest average lifespan on the planet. HIV/AID, malaria & TB – along with a rising scourge of non-communicable diseases such as cancer & diabetes – are increasingly draining the human capital required to fuel African economies. Moreover – outside of a few notable exceptions such as South Africa, Kenya & a few others – African countries lack the medical resources to cope with the soaring tide of disease.

In part due to these factors, many observers expect a decline in economic & labor productivity across the continent in the coming years. Africa’s healthcare malaise can also stymie the long-term viability of the African Free Trade Area. This is also one of Mukadi’s concerns.

“Disease is bearing down heavily upon the finances of Africans – and at levels we’ve never seen before” he says. “If quality healthcare capacity remains limited to a small handful of countries, it will skew the progress that an African common market is meant to promote. Persistent outflows of financial & human capital will persist, dampening our prospects for sustainable growth & development.”

Mukadi is passionate about this point – so much so that he’s embarked upon an initiative to drum up investment in African healthcare facilities on the continent. In addition to raising funds throughout Africa & abroad, he’s also reinvesting some of MFM’s revenues on various infrastructure projects within the countries where the company operates.

And while new investors have already begun querying opportunities to partner with MFM on some of these projects, Mukadi is careful about ensuring that they’re a good fit.

“Look, obviously we’re keen to explore avenues for partnership, and it’s good that we’ve begun to generate excitement in the marketplace”, Mukadi says confidently. “But, beyond just investment, we’re looking for partners who are serious about Africa’s long-term development.”
“We’re looking for partners who can grasp the big picture.”

Author: MFM Editor

Published by: MFM media

Lack of holistic healthcare is hindering Africa’s potential, warns Pascal Mukadi of Medical Fund Management Pty. Ltd.

With Covid-19 flaring across Africa, many of the continent’s other health crises have fallen below the public’s radar. Among them is a deadly, silent killer.

Diabetes is on the rampage across Africa. A disease once associated with richer, Western nations – it is now becoming widespread here, with rates soaring to historic levels. Many public health experts are now citing it as an epidemic.

According to epidemiologists – in the near future, the economic & health toll from diabetes in Africa will exceed those of HIV/AIDS. 

In the year 2000, approximately 7.1 million people in sub-Saharan Africa were suffering from diabetes mellitus. Now, according to the International Diabetes Federation, more than 16 million people in the region are living with the disease. Africa now has the greatest number of people living with undiagnosed diabetes – with projections showing that the continent will experience the world’s greatest rise in confirmed cases over the next decade.

Not only are African bodies being ravaged by the disease – but African economies as well. In 2015 alone, the total estimated cost of diabetes was US 19.45 billion or 1.2% of Africa’s GDP. Over 55% of this was in direct medical costs, with total out-of-pocket expenses exceeding the total health budgets of many countries. 

Pascal Mukadi, an entrepreneur and philanthropist, believes that stemming the crisis will require African governments to change their healthcare mindset. 

“Overwhelmingly, African health departments approach diabetes – and disease in general – with a lopsided view of treatment” says Mukadi. “They rely almost exclusively on medicines & surgery to manage these conditions, without emphasizing the need for holistic wellness solutions which can actually prevent many of these diseases.”

Mukadi is Executive Chairman of Medical Fund Management (MFM), which manages healthcare funds for individuals, governments & organizations across Africa. Through its various divisions, it delivers a range of healthcare, wellness & lifestyle services throughout the continent. 

Mukadi warns that Africa is sitting on a time bomb. Lifestyle diseases are becoming endemic on the continent, he says, threatening to derail the continent’s future economic growth & stability. If Africa is to turn the tide, holistic wellness initiatives will need to be integrated in society at all levels.

“Throughout the continent, we need to improve not only how we treat our bodies through nutrition & exercise, but how we manage & maintain the health of our minds” says Mukadi, a fitness enthusiast. “A mind/body approach is crucial to taking African healthcare forward.”

To drive this ethos, Mukadi has added an integrated wellness division to the MFM group. EcoFitness. A digital health & wellness platform, EcoFitness will provide a range of services aimed at boosting the mental & physical wellbeing of Africans throughout the continent.

 These include 24-hour access to health, nutrition & wellness coaching as well as interactive sessions on meditation, yoga & lifestyle diagnostics.  Mukadi plans to launch the service during the first quarter of 2021.

“Ultimately, turning the tide on diseases like diabetes will require that we manage our lives better as individuals” advises Mukadi. “As more of us learn to manage ourselves from within, we’ll then manifest the vitality & power needed to eradicate this disease from our continent.”

“This is what we’re working towards as MFM.”

Africa needs far greater healthcare entrepreneurship if it is to overcome its public health challenges, says Pascal Mukadi of Medical Fund Management Pty. Ltd.

With the recent announcement of a high-powered vaccine against Covid-19, a wave of excitement has overtaken the globe. Based on initial test results, the drug’s manufacturers – Pfizer and BioNTech – claim an efficacy rate of over 90%. Pending approval from the US Food & Drug Administration, the vaccine could become available for global distribution within weeks.

But will Africa miss out?

The vaccine – recently hailed as the world’s best hope of quelling the pandemic – needs to be stored at minus 70 degrees Celsius, far below freezing temperature. Yet, except for a few major research institutions, Africa doesn’t have the ultra-cold freezers required to store the drug. And at a cost of between US 10, 000 to US 16, 000 each, these units are prohibitively expensive.

So while the European Union, the UK, Germany and other wealthy nations have already placed their orders for the vaccine, African governments have been slow to move. Poor healthcare infrastructure – especially inadequate cold chain facilities – is to blame. As a result, experts say that is unlikely that the vaccine will be made widely available on the
continent.

Without greater private investment in healthcare, challenges like this will persist – even after Covid-19, says Pascal Mukadi – Executive Chairman of Medical Fund Management (MFM).

“Africa’s public health challenges are simply too great for governments to manage by themselves” says the South African-based healthcare entrepreneur & philanthropist. “The Covid-19 pandemic has underscored this reality. As a continent, we could be making far greater headway in managing this crisis if more entrepreneurs – especially innovative, African entrepreneurs – were given access to public-private partnerships.”

MFM manages healthcare funds for African healthcare seekers, governments & private sector organizations. Headquartered in South Africa, the company provides a range of health & wellness solutions to consumers across the continent.

“One of the reasons why Africa lags behind in developing modern medical equipment is that – as African entrepreneurs – we’re not properly incentivized within the healthcare space” says Mukadi. “Our governments prioritize investments from foreign companies & aid agencies. As a result, Africans don’t create enough home-grown solutions to our public health issues.”

Mukadi says that African governments & entrepreneurs should forge stronger partnerships in researching, designing & manufacturing medical equipment and facilities. He says that the cold chain equipment required for vaccines is but one example.

“We should be producing ultra-cold equipment right here in Africa. We shouldn’t have to rely on expensive imports in order to handle our Covid vaccination processes” Mukadi says. And this, he believes, is just the tip of the iceberg.

“Continent-wide, we should be on a major drive to upgrade our medical facilities for the challenges of the 21 st century –” explains Mukadi. “We need major investment – now – in identifying & solving our medical challenges on the continent.”

Mukadi is putting his money where his mouth is. Through MFM, he’s recently launched Mediquip, a specialized investment fund aimed at developing healthcare facilities & medical technologies across Africa. The fund is currently eyeing initial investments in Nigeria, Congo & Kenya.

“With or without Covid-19, Africa has an ongoing health crisis”, warns Mukadi. “At MFM, we’re spearheading African solutions.”

The bodies were lying in the streets un-buried. All railroads and vessels carrying food and such things into the great city had ceased runnings and mobs of the hungry poor pillaging.