Affordable healthcare for the masses: Ilara Health's sustainable business model saves lives
This week we're featuring what has to be one of my favourite business models to date.
One of the dominant themes in East Africa is that individuals and businesses don't have the cash to afford products and services that would earn them more money, and make their lives better.
To open up access to electricity, off-grid solar power systems are now commonplace, provided on a Pay As You Go basis.
This model is being adopted in other markets too, such as cooking fuel, irrigation pumps and TVs.
Where it becomes especially powerful is, in my opinion, if the financing can be for a revenue-generating asset.
The new owner gets a top of the range piece of kit and is able to pay for it through the additional income they earn from it.
This is what Ilara Health has done for medical diagnostics.
Ilara Health takes the most advanced, modern equipment (often smartphone-based) that offer the same results and cost only a few thousand dollars, and then provide them to peri-urban medical clinics in Kenya who then pay back in installments.
The result - routine ultrasound tests become available to a local population at an affordable rate, (rather than spending hours to travel to have one), medical clinics can grow their business, and Ilara Health has a sustainable business model.
Emilian also has a number of top tips on starting any business in Africa which come from over 20 years of him running and investing in companies on the continent.
I'd strongly recommend following him if you're interested in building ventures in the region.