Prosper Africa’s Tech For Trade Alliance Announces A Pharmaceutical Tracing Pilot In South Africa As Part Of U.S. Digital Transformation With Africa (DTA) Strategy
Prosper Africa, USAID’s Electronic Trade Consortium, IBM and the National Association of Boards of Pharmacy will test a solution to transform Africa’s pharmaceutical market
Prosper Africa’s Alliance for Technology for Trade (AT4T) is launching its latest pilot project in Africa to field-test a digital platform aimed at increasing visibility into Africa’s pharmaceutical supply chains, creating a more transparent, efficient and secure commercial market for pharmaceuticals.
Prosper Africa, USAID’s Electronic Trade Alliance, IBM Consulting,as well as National Association of Boards of Pharmacy (NABP) is partnering to launch NABP pulse™ in South Africa. Pulse will connect U.S. and global pharmaceutical companies such as Pfizer and Roche with African distributors and pharmacies in this emerging market, enabling better communication between trading partners and through enhanced identification and tracking of medicines. Capabilities to enhance the security of this evolving supply chain
Prosper Africa Coordinator British Robinson said: “Through Prosper Africa’s Trade Technology Alliance, under the Digital Trade in Africa (DTA) initiative, we support partnerships between companies to leverage technology and create products/services, We are pleased that IBM will use its Watson AI capabilities in this pilot to help improve the traceability of pharmaceuticals exported to Africa.”
The African pharmaceutical market size is estimated to be US$26.85 billion in 2023 It is expected to grow by 3.4% from 2024 to 2030. There is a significant opportunity for U.S. companies to better understand market opportunities in Africa while providing African pharmacies with the ability to monetize their data through the use of artificial intelligence tools to develop more effective sales strategies.
Despite market opportunities, distribution of pharmaceuticals in Africa faces significant business challenges, including fragmented supply chains, poor infrastructure and regulatory differences across countries. This can lead to distribution inefficiencies, resulting in limited product availability and higher prices for patients at the point of sale. By increasing supply chain visibility, the proposed Pulse pilot has the potential to benefit African distributors and pharmacies by enhancing operations, reducing damage, ensuring inventory consistency and creating more profitable partnerships with international suppliers.
“IBM is committed to applying technology and consulting expertise to increase transparency and foster trust in critical industries such as healthcare. The launch of Pulse by NABP demonstrates the power of digital solutions to transform pharmaceutical supply chains.” IBM Consulting Southern Africa and Africa Growth said Riaz Osman, Managing Partner, Markets. “By leveraging artificial intelligence and data, we aim to create a secure, transparent environment that empowers pharmacies and distributors to make smarter, data-driven decisions. This partnership underscores our commitment to helping build resilient Ecosystems, driving economic growth and social impact.”
“As an organization with a mission to protect public health, we are pleased to partner with Prosper Africa and IBM to provide tools to increase visibility of Africa’s pharmaceutical supply chains and support more transparent, efficient and accessible pharmaceutical markets,” Lemrey “ Al” Carter, PharmD, MS, RPh, is the executive director of NABP. “We look forward to leveraging NABP’s Pulse as a future avenue to develop a successful, sustainable and scalable platform that can provide patients with confidence in the safety and quality of the medicines they purchase.”
IBM Consulting’s deep technical and industry expertise combined with its AI-driven delivery platform, IBM Consulting Advantages Will work with African pharmacies and retailers to help collect and analyze NABP™ Pulse product scan data. In addition, IBM will provide training on artificial intelligence tools, such as Watsonx.ai Better enable these pharmacies and retailers to make data-driven decisions. This public-private partnership demonstrates the potential to drive economic growth and improved health, benefiting both U.S. companies and African consumers.
source: prosper africa
