Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Filed in Career by on February 2, 2024 0 Comments

Introduction

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Cost Plus Drugs: The practice of pharmaceutical corporations charging exorbitant rates for life-saving medications, rendering them unaffordable for many people in Africa, is known as the “cost plus drugs business model.” The purpose of this article is to investigate if young people can take charge of this model and how it affects the area. We will give a brief history of the subject, go over important personalities and figures, examine different points of view, and speculate about possible developments in the future.

Context of History

The history of colonization and exploitation by foreign powers is the source of the cost plus medicine business model in Africa. Health problems affecting the entire population resulted from the African nations’ frequent denial of access to reasonably priced healthcare throughout this time. The pharmaceutical industry arose as a profit-driven enterprise that served the interests of multinational companies above all others.

Many African countries found it difficult to establish their own healthcare systems after independence and lacked the facilities needed to manufacture reasonably priced medications on the continent. They thus developed a reliance on imported pharmaceuticals, which exposed them to exorbitant prices and restricted access to necessary treatments.

Important People and Characters

Dr. Denis Mukwege

A gynecologist from the Congo, Dr. Mukwege became well-known across the world for his efforts to treat victims of sexual assault medically. He emphasized the necessity for reasonably priced medications to address the mental and physical side effects of these kinds of offenses.

Dambisa Moyo

Moyo, a well-known economist and writer from Zambia, highlights the significance of independent thought and long-term economic growth in Africa. Moyo has argued in favor of producing inexpensive medications locally in order to eliminate the nation’s costly import reliance.

Civil Society Organizations in Togo

The Collectif Citoyen and the Jeunes Volontaires pour l’Environnement are two youth-led groups in Togo that have launched awareness campaigns to draw attention to the detrimental effects of the cost plus pharmaceuticals business model. Young people have been inspired by them to take up activism and call for access to affordable healthcare.

African Pharmacists

Community pharmacists are essential in ensuring that locals have access to medications. They have occasionally coordinated campaigns to bring down the cost of medications by working with particular pharmaceutical corporations or by pushing for national legislative changes.

Viewpoints and Evaluation

Youth empowerment

There might be a big impact if young people become involved in pushing for inexpensive pharmaceuticals and spreading awareness. Their dedication, enthusiasm, and technological know-how may spur creative thinking and put public pressure on policymakers and pharmaceutical companies.

Community-based strategies:

To challenge the cost plus medications business model, grassroots groups and neighborhood pharmacists are concentrating on neighborhood-level projects. These strategies can work better in educating the public, creating a feeling of ownership among those impacted, and increasing awareness when they include the community.

Adverse Features

Limited political clout and funding: Youth-led projects frequently lack the funding and political clout necessary to successfully oppose the current cost plus drugs business model. It will take networking opportunities, long-term financial assistance, and partnerships with well-established organizations to overcome these challenges.

Possible Future Advancements

Increased cooperation: Alliances between regional groups, national and international organizations may lead to the construction of low-cost pharmaceutical manufacturing plants and the enhancement of legal structures to guarantee equitable costing. By utilizing the talents of many stakeholders, this kind of partnership would eventually be advantageous to the community.

Technological developments: Innovations like blockchain and telemedicine might make it easier for people to have access to more reasonably priced medications. By streamlining supply chains, cutting out intermediaries, and fostering transparency, these advances may guarantee affordability and cut expenses.

The Current Business Prospects Helping African Youth

Africa has a young population, which is a tremendous resource that may propel development and economic progress. Since about 60% of people are under 25, it is crucial to empower and involve young people in economic endeavors. This article examines the several economic prospects that are currently most advantageous to African youth, as well as their historical background, influential people, and effects. Along with outlining upcoming advancements, it will provide a critical analysis of significant figures who have made contributions to this discipline, taking into account both good and bad elements.

The Historical Background of African Youth Business Opportunities

African youth have historically had poor economic prospects because of issues including high unemployment rates, restricted access to high-quality education, and a dearth of business options. Nonetheless, tackling these issues has received more attention in recent years, and a number of new economic sectors have developed with enormous promise for young empowerment.

Technology and digital entrepreneurship is one such industry. Over the past ten years, Africa’s technology infrastructure has advanced dramatically, paving the way for the digital revolution. Utilizing social media, the internet, and mobile devices, young entrepreneurs have developed creative solutions and enterprises. As innovation hubs and incubation centers have proliferated throughout the continent, aspirant young entrepreneurs have benefited greatly from this assistance.

Africa’s economy has always been significantly influenced by agriculture. Nevertheless, rather of being a hub for innovation and prosperity, it has frequently been seen as a conventional industry. As agribusiness and agricultural technologies grow in popularity, this viewpoint is evolving. Involving young people in these fields has enormous potential to solve issues related to food security and promote inclusive, sustainable growth.

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Notable Individuals and Their Role in Advancing African Youth in the Business World

Ashish Thakkar

As the creator of the Mara Group, Thakkar has been a key figure in empowering young people via the Mara Mentor initiative, which helps young entrepreneurs all over the continent. He has given young entrepreneurs financial help, networking opportunities, and skill development throughout the years.

The City of Bethlehem Tilahun Alemu

Alemu is the creator of soleRebels, an environmentally conscious shoe brand that makes use of Ethiopian craftsmanship. Her company has not only produced jobs but also demonstrated the viability of regional industries in the global marketplace.

Strive Masiyiwa:

The creator of Econet Wireless, Masiyiwa has not only transformed the African telecom sector but has also been a steadfast supporter of young people starting their own businesses. By means of his charitable endeavors, including the Higherlife Foundation, he has enabled other young Africans to launch their own enterprises.

Tony Elumelu:

Elumelu, a philanthropist and businessman from Nigeria, founded the Tony Elumelu Foundation with the goal of empowering aspiring businesspeople throughout Africa. The Tony Elumelu Entrepreneurship Program, the foundation’s main initiative, offers thousands of young entrepreneurs seed money, mentoring, and training.

Evaluation of the Effects and Viewpoints on African Youth Business Prospects

Although there are still obstacles, entrepreneurial possibilities have had a substantial influence on African youth. Positively, these prospects might lead to the creation of jobs, stimulate creativity, lessen poverty, and promote economic expansion. Additionally, they inspire youth to take initiative, learn how to start their own business, and give back to their communities.

However, there are a few drawbacks that must be taken into account. Youth-led businesses may face challenges from inadequate infrastructure, unpreparedness, regulatory roadblocks, and restricted access to funding. Gender inequality still exists, and prejudices and cultural conventions put young women at further disadvantage. In addition, there are obstacles to inclusive growth throughout the continent, including the digital divide and the rural-urban split.

African youngsters have a plethora of entrepreneurial prospects ahead of them. To fully realize this promise, funding for education and career training must continue, as must access to capital, networks, and technology. Governments, non-governmental organizations, and the business sector need to work together to provide a conducive atmosphere that encourages young entrepreneurship and tackles the obstacles that impede advancement.

African adolescents now have access to entrepreneurial options that give them a platform for economic independence and empowerment. Agribusiness and technology, along with agriculture, present tremendous opportunities for youth-led enterprises to grow and support the development of Africa. Important individuals like Tony Elumelu, Bethlehem Tilahun Alemu, Ashish Thakkar, and Strive Masiyiwa have made a significant contribution to the network-building and support-giving of young people in business.

Even if there are benefits to these prospects, issues including insufficient infrastructure, gender inequality, and restricted access to money need to be resolved. Africa can fully use the potential of its young people by enhancing education, expanding financial accessibility, and encouraging cooperation amongst stakeholders. African youth have the potential to lead economic growth, innovation, and sustainable development on the continent if given the proper assistance and favorable conditions.

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Is It Possible for African Youth to Take Charge of the Cost Plus Drugs Business Model?

Conclusion on Cost Plus Drugs

For many people in Africa, the cost plus drugs pharma business model still makes it difficult for them to get inexpensive treatment. But it’s clear from historical background, notable figures, and different viewpoints that community-based initiatives and youth empowerment have potential.

Though obstacles like few resources and governmental authority still exist, technological breakthroughs and the possibility of cooperation provide optimism for the future. Youth in Africa have the potential to take charge of the cost-plus medicine business model and guarantee that everyone has fair access to life-saving treatments if they work together.

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