French Development Agency Invests 150 Million Shillings in Safaricom’s M-Tiba in Kenya
Safariam-based healthcare app, M-Tiba has received 150 million shillings from the French Development Agency (AFD) that will go towards growing the number of individuals and healthcare providers on the platform.
The investment will be used to acquire 500 new healthcare providers to the app as well as developing technology compatible with rural and offline areas. The M-Tiba app was developed in partnership with CarePay and PharmAccess.
The company also has plans to implement technological integration into healthcare systems for providers such as Aga Khan and the public health information system, as well as the strengthening of data security and privacy to become compliant with data protection laws.
CarePay, a health financing technology firm, will repay the 150 million shillings loan without interest if the venture becomes profitable. The 3.5 million individuals currently enrolled on M-Tiba save for medical care, pay for and manage their insurance policy as well as support their dependents.
According to data from the Kenya Integrated Household Budget Survey (KIHBS), only 20 percent of Kenyans have some form of health cover. Research by health experts Thomas Maina and Jane Chuma also reveal that about 1.5 million Kenyans are pushed below the poverty line because of medical bills. Currently, M-Tiba has 2,000 healthcare providers and covers 37 counties in Kenya.
CarePay Chief Executive, Kees van Lede said “this partnership will help CarePay improve the M-Tiba platform’s capability and reach. It is building better and more secure health financing solutions for individuals and organisations.”
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