Condia Insider: Why African healthtech is struggling
- Ilara Health in Kenya has laid off staff after restructuring despite securing a $4.2 million funding round.
- Medsaf in Nigeria has shut down due to struggles with fundraising and unpaid invoices.
- 54gene, which raised $45 million during the pandemic, began winding down in 2023 after a revenue collapse.
The current state of Africa's healthtech sector highlights the need for a more sustainable approach to innovation, focusing on partnerships and long-term viability rather than rapid growth. As the landscape shifts, it is crucial for startups to adapt their business models to ensure resilience amidst economic pressures.
