In a world of significant technology advancements, data is becoming increasingly important. Data serves as the foundation for machine learning models to identify trends and patterns, which is often used to make decisions. In animal health, data can be used to improve efficiency and profitability of value chain actors based on sound, evidence-based decisions.
“There are tremendous opportunities that data presents. If we can combine data that exists internally and externally, we are able to not only give insights about market performance but also develop tools for market estimation and prediction of future events,” says Dr Tom Osebe, GALVmed’s Senior Manager for Commercial Development in Africa.
Recognising the value of data is one thing but making that data available and accessible is a herculean task. GALVmed and AgNexus Africa have joined forces in a groundbreaking initiative set to support the African animal health sector. Their collaborative effort brings forth a cutting-edge Market Intelligence Platform (MIP), designed to address the critical lack of reliable market information in the region and unlock unprecedented opportunities for investors.
AgNexus Africa are the pioneers of market research in sub-Sahara Africa and have been providing market data in both the veterinary and crop sectors.
The MIP will be an online platform that will provide animal health industry players with reliable market data and is looking to deliver a minimum viable product by end of year. It will offer both current market insights and allow users to make estimations. This innovation will potentially increase investments in Africa ensuring farmers, especially small-scale producers access quality products, affordably.
To ensure the platform meets the evolving needs of investors, GALVmed and AgNexus Africa recently convened a two-day workshop in Nairobi on the 18th and 19th March, 2024, gathering insights from key industry participants. This collaborative effort ensures that the MIP serves as a tailored solution, meeting the real-world requirements of users in the animal health sector.
“AgNexus Africa already generates market data for Kenya based on retailer panels and is expanding the coverage to include Tanzania from 2024. This MIP will close market intelligence information gaps for African markets and offers opportunities for market insight generation to support animal health companies in their strategic and tactical decision-making,” said John Muthee, the Managing Director of AgNexus Africa.
For GALVmed, the end-goal is access to quality products and services by small-scale producers and the success of this platform will be measured by how best the animal health companies can leverage its benefits to impact the socio-economic aspects of small-scale producers of Africa.
As Africa’s animal health sector enters a new era of innovation and growth, GALVmed and AgNexus Africa lead the charge, pioneering solutions to transform the landscape and ensure a healthier future for animals and communities across the continent.
Source: galvmed.org