Dineo Lioma stresses the need for patient capital in the African Medtech space

Dineo Lioma of Deep Medical Therapeutics (DMT) joins the speaker line-up at the UN’s Global Africa Business Initiative to speak about Health Innovation in Africa.

It is estimated that business opportunities in the healthcare and wellness sector in Africa will be worth $259 billion by 2030. The panel tackled how Africa can chart its own course and what investment is needed to build a resilient health infrastructure with a robust pharmaceutical industry, skilled workforce, health tech and supply chains.

Panelists: Gregory Rockson, Co-Founder and CEO, mPharma; Eyong Ebai, Executive Director & General Manager, GE Healthcare Sub – Saharan Africa, Europe, Middle East & Africa; Dr. Abasi Ene-Obong, Founder and CEO, 54gene; Dineo Lioma, Founder and CEO, Deep Medical Therapeutics (DMT); Moderator: Nitin Gajria, Managing Director – Sub-Saharan Africa at Google.

On the Health Innovation in Africa panel, Dineo Lioma highlighted the need for patient capital in the MedTech Space by saying that to see returns in the Medtech space could take 5-10 years with Fintech valuations requiring much less. She spoke about the need to focus a lot more on value, rather than valuation due to the stakes in Africa being really high and calls for more consideration for what impact these Medtechs are having on the continent.

Dineo’s business Deep Medical Therapeutics (DMT) is a women-founded, South African MedTech company aimed at providing access to more affordable diagnostics and supporting the development of more effective therapeutics solutions for Africans. DMT is receiving support through the E Squared Pathways Programme.

E Squared’s Pathways programme is a bespoke offering open only to Allan Gray Fellows (graduates of the Allan Gray Orbis Foundation). When entering the programme, a plan is made for tailored non-financial support; from the teaching of key business skills to mentorship and strategic business advisory. Each participant’s journey is completely unique. All business skill and support requirements are formulated in partnership with the Founding team.

Dineo describes the trip to New York to speak and network, sponsored by E Squared Investments: “As a budding entrepreneur, this was an incredible opportunity. I really derived value from attending the event and it immensely supported my personal development and the opportunity to create meaningful partnerships across the continent for Deep Medical Therapeutics

What is the Global Africa Business Initiative?

The Global Africa Business Initiative is designed to highlight opportunities on the continent where every sector of the economy from manufacturing to agriculture to services to finance is on a growth trajectory. The environment is primed for ambitious plays, for an infusion of creative and decisive moves for economic growth and sustainable development.

The 2022 inaugural event held in September 2022 ended with UN Deputy Secretary General and host of GABI, Amina J Mohammed, calling on partners in government, industry, and philanthropy to contribute toward a vision of sustainable, equitable growth; and to accelerate business opportunities on the African continent.

“The solidarity we’re looking for in the world will come home to roost, and it will be in Africa. Right now, the leadership and the solutions are coming from the continent,” said Ms. Mohammed.

The event brought together business, non-profit, political, media and cultural leaders to create a new growth roadmap and realize the immense, untapped business and investment opportunities offered by the $2.5 trillion African market.