The Private Sector Health Alliance of Nigeria, led by Alhaji Aliko Dangote, Mr. Jim Ovia, Dr. Muhammad Ali Pate, Mr. Aigboje Aig-Imoukhuede, Mrs. Sola David-Borha and other corporate business leaders, established to complement the Federal and State Government’s effort in accelerating improvement in health outcomes by leveraging private sector innovation, advocacy, impact investments and partnerships was honoured at the Nigerian Stock Exchange (NSE) with the Nigeria Business Composite Award (NiBC 10) on the heels of an indigenous enterprise with global competence and maintaining a brilliant record and achievement.
The NIBC 10 is a selection of 10 successful Nigerian enterprises that have exhibited high potentials for growth and have over the years maintained a brilliant track record with the launch of the NiBC 10 bringing together top Nigerian CEOs and captains of industry.
According to The Nigerian Stock Exchange and Ciuci Consulting, organisers of the event, the Award celebrates companies that have exhibited huge growth potentials whilst inspiring confidence in the Nigerian society and its potential to produce thriving businesses.
Mr. Chukwuka Monye, Managing Partner of Ciuci Consulting said: “Nigerian entrepreneurs need to see examples of businessmen and women that are working hard and creating successful businesses in the same environment that many fear to explore. We have worked with each of the 10 companies, who are at different growth stages; and are pleased to recognise them and encourage them for what they do.”
Companies included in the NiBC 10 are House of Tara, Bestman Games, Iya Foods, L’Avyanna, Everyday Supermarkets, DBH Solutions, Ugo Monye Official, Healthcare Leadership Academy, Private Sector Health Alliance of Nigeria and Massey Street Children’s Hospital.
Since the launch of the Alliance, PHN has executed quick wins around four areas;
Innovation: The Alliance created the Nigerian Health Innovation Marketplace (NHIM) as a convergence platform to spur innovation, connect actors in the innovation eco-system, provide visibility to health innovations as well as build market and technical linkages.
Currently, over 800 innovators are registered on the NHIM virtual portal, 42 promising innovations have been curated; 71 percent of innovations are at pilot and scale-up phases; an estimated 700, 000 lives touched by curated innovations at peak; 8 deals brokered between actors in NHIM, and an estimated 200 jobs created by curated enterprises.
Partnerships: The Alliance has developed synergies between the needs of the health system and the capabilities of the private sector: and as a result, serves a multilayered constituency including the private sector in its multiple dimensions (e.g. private providers, PPMVs, corporate businesses), policy makers, NGOs, implementers, traditional institutions, State and Local government institutions, regulators and beneficiaries, particularly impacting women and children.
Various partnerships with both the public and private sector to improve health outcomes in Nigeria include Africa Resource Centre for Supply Chain in Nigeria (ARC Nigeria); Nigeria Healthcare Quality Initiative (NHQI); Malaria to Zero Initiative; Healthcare Leadership Academy and Maternal, Child and Health (MNCH) weeks.
Impact Investments: The Alliance has harnessed the collective voices and influence of private sector leaders to advocate for priority policy interventions and evidence based actions including:
- Fiscal policy, regulatory and access to capital interventions that unlock the market potential of the private health sector.
- Using State scorecards and other evidence based tools to hold government accountable, monitor and reward performance.
- Innovative financing platforms such as Private Sector Roundtable on Ebola and Malaria to Zero Initiative to complement Government’s effort in achieving health goals.
- Market shaping engagements that increase access to nutritious lifesaving commodities and services.
Impact Investment: The Alliance is facilitating high impact investments in four priority areas:
- Unlocking the market potential of the health sector by addressing market failures, defragmenting the private sector and shaping health markets to create a more attractive health investment landscape.
- Facilitating impact investments in the most promising innovative projects from the health innovation market place – to enable them to achieve scale and create jobs.
- Originating and executing commercially viable investments in critical segments of the health sector that benefit undeserved segments.
- Improving the quality of care in eligible facilities in the country.