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West African market to be tapped by Indian pharma companies

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Accra: The two-day IPHEX Africa trade exhibition in the Nigerian commercial capital of Lagos will witness the arrival of a 70-member team from India, looking for opportunities to tap into the pharmaceutical sector of Western Africa. The team will be aiming to increase their exports there.

The Pharmaceutical Export Promotion Council of India(Pharmexcil) told reporters in an email exchange that the February 18-19 exhibition aims to showcase “the advanced technologies that are being developed by Indian pharmaceutical companies and also to enable the Indian companies to renew their contacts with Nigerians and also with neighbouring countries.”

The exhibition comes at a time when international consulting firm McKinsey said in a report last year that “the value of Africa’s pharmaceutical industry jumped to $20.8 billion in 2013 from just $4.7 billion a decade earlier. That growth is continuing at a rapid pace”, and predicted that “the market will grow into a $40 billion to $65 billion by 2020”.

McKinsey said the projected growth was good news for pharmaceutical companies seeking new areas of growth as developed markets stagnate, adding that it was equally so for “patients who have gained access to medicines previously unavailable on the continent”.

Mckinsey’s projected that between 2013 and 2020, prescription drugs are expected to grow at a compound annual growth rate (CAGR) of six per cent, generics at nine percent, over-the-counter medicines at six percent and medical devices at 11 percent.

What is likely to work in favour of the Indian companies is Mckinsey’s projection that Africa’s population dispersal is undergoing a massive shift. “By 2025, two-fifths of economic growth will come from 30 cities of two million people or more; 22 of these cities will have GDP in excess of $20 billion. Cities enjoy better logistics infrastructure and healthcare capabilities and urban households have more purchasing power and are quicker to adopt modern medicines,” the report added.

It said that “between 2005 and 2012, Africa added 70,000 new hospital beds, 16,000 doctors and 60,000 nurses. Healthcare provision is becoming more efficient through initiatives such as Mozambique’s switch to specialist nurse anesthetists and South Africa’s use of nurses to initiate anti-retroviral drug therapy. The introduction of innovative delivery models is increasing capacity still further”.

“To create a more supportive environment for business, governments have introduced price controls and import restrictions to encourage domestic drug manufacture; required country-specific labeling to reduce counterfeiting and parallel imports; and tightened laws on import, wholesale, and retail margins,” the report said.

What this means is that Indian companies will now have to find a way of building partnerships to penetrate this growing market.

Indian companies can take a leaf from Mckinsey’s recommendations that “global pharmaceutical companies need local business partners, manufacturers, packaging companies, and distributors to help them navigate the continent’s many markets with their widely-varying consumer preferences, price points, manufacturing and distribution infrastructures”.

“In the absence of a pan-African pharma regulatory body, they also need to invest in local partnerships to understand varying regulatory environments. Partnerships with governments are equally important, whether they involve working with medical opinion leaders to guide research priorities and secure funding, or collaborating with health ministries and non-governmental organizations to provide public-awareness campaigns, health screening, treatment, equipment, and training for hospitals and clinics,” the report added.(Francis Kokutse, IANS)

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Jerry Rawlings Troubled at High Population Rate

Jerry Rawlings said that “It will be a serious source of tension permanently in this society”

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Jerry Rawlings, the former president of Ghana, gave a hint on the recent rise in Ghana’s population, which in turn could increase tension and security problem in the country.
Jerry Rawlings, former President of Ghana is worried about country's increasing population. Wikimedia commons.

Lead: According to news now Ghana, there is a huge possibility of problems related to national security arising if there is no control over the population rate in the country. What led to an increase in the current population to 29.6 million? And what are the troubles the youth of Ghana needs to face? To know more have a quick glance through this article.

Ghana’s rise in population

Jerry Rawlings, the former president of Ghana, gave a hint on the recent rise in Ghana’s population, which in turn could increase tension and security problem in the country.

In the year 2016, Ghana’s population drastically increased to 29 million from 24 million which is certainly not a favorable trend.

Jerry Rawlings said that “It will be a serious source of tension permanently in this society”

David Kombat who is the chief statistician at the Ghana Statistical Service said that at present Ghana has a total population of 29.6 million which was around 24.6 million in the year 2010.

Jerry Rawlings, the former president of Ghana, gave a hint on the recent rise in Ghana’s population, which in turn could increase tension and security problem in the country.
Ghana Population Pyramid. Wikimedia commons

In an interview with the Ghanaian Times newspaper, David Kombat said that out of the total population, half of the population consists of young blood, whose age lies between 1 and 29 years. He also mentioned that some immediate measures should be taken in order to deal with the challenges which are faced by the youth in the country.

Trump Threatens Kim: Trump Threatens Kim With Decimation

Reports collected by Ghana news now – YEN suggest that, with the rise in Ghana’s population there is a scarcity of jobs, and the main challenges are faced by the youth population of Ghana. President of Ghana, Akufo- Addo earlier said that the unemployment trend in our country is a national security issue.

As per Ghana Aids commission, the number of HIV patients has increased over the past years as well. David Kombat, the Chief Statistician of Ghana, has expressed his views to improve the education quality along with healthcare, which includes reproductive health and the need for woman empowerment. In addition, entrepreneurial skills to improve the economic productivity.