Nigerian startup 10mg Pharma is using AI-driven code trees to simplify access to low-interest credits and low-cost medications for healthcare providers in Africa. Founded in 2022, 10mg Pharma employs an AI algorithm based on the code tree model to pair healthcare providers with financing partners who meet specific criteria. This facilitates bulk medication purchases, leading to savings of up to 15 per cent, which are then passed on to patients. High medication costs compound the challenge of managing chronic pain in Africa, as does minimal insurance coverage and the rigidity of accessing investment for healthcare providers. The startup’s business model revolves around facilitating transactions between healthcare providers with medication suppliers, while also simplifying access to low-interest credit through its AI-driven platform.

Source: The North Africa Journal November 24, 2023 12:00 UTC