The French Development Agency (AFD) has pumped fund worth KES 150 Mn (USD 1,476,378) in Safaricom-backed healthcare app M-Tiba. The investment will go towards the platform’s growing number of individuals and healthcare providers.
The fund injection will also see to M-Tiba’s onboard target of 500 new healthcare providers to the app, while the platform develops its technology to make it compatible with rural and offline areas. The app, in lieu of financial development, also looks to integrate its technology into healthcare systems for providers such as Aga Khan and the public health information system. The app as well has intentions to strengthen its data security and privacy to become more compliant with data protection laws.
According to reports, CarePay – a health financing technology firm – will repay the KES 150 Mn loan without interest if the venture becomes a profitable one.
The reported 3.5 million individuals currently enrolled on M-Tiba, save for medical care, purchase and manage their insurance policy while supporting their dependents. Kenya Integrated Household Budget Survey (KIBHS) data shows that only 20 percent of Kenyans have some form of health protection. According to research done by health experts Thomas Mania and Jane Chuma, some 1.5 million Kenyans are pushed beneath the poverty line because of the medical bills.
M-Tiba, at press time, has 2,000 healthcare providers and covers 37 counties. The intended expansion will latch the platform on to venturing into Elgeyo Marakwet, West Pokot, Turkana, Samburu, Lamu, Makueni, Mandera and Wajir counties.
According to CarePay’s CEO, Kees Van Lede, the partnership will help his company in improving M-Tiba’s capability and outreach. He said: “It is building better and more secure health financing solutions for individuals and organizations”.
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