A Nigerian health-tech startup, 10mg Pharma, is helping small clinics, pharmacies, and hospitals across Africa access instant, collateral-free loans through its AI-powered financing platform, a model designed to bridge the continent’s estimated $60 billion healthcare funding gap.
Founded in 2022, the company deploys artificial intelligence to assess the creditworthiness of healthcare providers using real-time transaction data instead of traditional collateral.
“Many of these healthcare providers run out of medicines and supplies because they cannot get credit quickly from banks. Our platform uses AI to turn their real-time purchase and repayment data into a credit score, which lenders can trust,” said Christian Nwachukwu, CEO of 10mg Pharma.
“This means a clinic can get an instant loan, right at the point of ordering medicines when they use ‘Pay with 10mgCredit’, instead of waiting 90 days or more.”
What 10mg Health Is Doing
10mg Pharma is reimagining healthcare financing across Africa by empowering small and medium healthcare providers to access instant, collateral-free loans through its digital platform.
The startup connects these providers directly with lenders and financing institutions willing to offer flexible credit based on verified digital data.
For small hospitals and rural pharmacies that typically struggle with cash flow, this innovation provides a lifeline, allowing them to restock essential drugs, purchase medical equipment, and continue operations without financial disruptions.
Beyond simply providing loans, 10mg Pharma is building a financial ecosystem around healthcare delivery, combining elements of fintech, data analytics, and digital procurement.
The platform integrates with suppliers and pharmaceutical vendors, enabling users to place medicine orders and receive instant credit approval in one seamless transaction.
This holistic approach is gradually transforming how healthcare facilities handle finances in low-income and underserved communities.
Solving an Old Problem with a New Model
Across much of Africa, small healthcare providers operate on thin margins and depend heavily on irregular patient income. With banks demanding collateral such as land titles or equipment, and interest rates often exceeding 30 percent, many clinics simply cannot qualify for formal credit.
The result is a chronic shortage of medical supplies and delayed care for patients who need it most.
“Africa has a US$60 billion healthcare financing gap. Credit databases are fragmented, and most clinics have no formal credit history.
“Traditional banks demand collateral and charge interest rates above 30 per cent, which most facilities cannot meet. Few fintechs focus directly on healthcare, so this sector remains underserved,” Nwachukwu explained.
10mg Pharma’s model addresses this problem by creating a trust-based credit system powered by artificial intelligence. Instead of evaluating clinics by their physical assets, it measures their financial behavior, how often they restock, how quickly they repay, and how consistent their business operations are.
This gives lenders reliable, data-driven insights and reduces the risk of defaults, effectively democratizing access to credit for small health facilities that were previously invisible to the formal financial system.
How the AI System Works
The backbone of 10mg Pharma’s innovation is its AI-driven credit scoring model, built on what the company calls a “code tree” framework. The system aggregates a clinic’s real-time purchasing behavior, repayment patterns, and transaction history to generate an intelligent credit score.
This score reflects a facility’s actual operational performance rather than outdated paperwork or collateral assets.
When a clinic or pharmacy attempts to restock its medicine supply through 10mg’s platform, it can simply select “Pay with 10mgCredit.” The AI engine immediately assesses its credit score and connects it with a lending partner that meets the required parameters.
Within minutes, the loan is disbursed and the medicine order processed, bypassing traditional loan application procedures that could otherwise take months.
This system not only accelerates the financing process but also reduces human bias in credit decisions. It allows lenders to make informed, automated choices based on real-time data, while giving healthcare providers the flexibility to operate without financial bottlenecks.
Over time, the platform builds a digital financial history for every provider, turning previously unbanked clinics into trusted borrowers in the formal economy.
Founding and Impact So Far
The idea for 10mg Pharma was born out of personal experience. CEO Christian Nwachukwu, who worked as a pharmacist in northern Nigeria, witnessed firsthand the dangers of medicine shortages when clinics ran out of essential drugs.
“I saw how patients would be turned away because their local clinics couldn’t afford to restock,” he recalled.
That experience inspired him to create a solution that would prevent such disruptions in medical care.
Since its founding in 2022, 10mg Pharma has recorded rapid growth. The platform has been adopted by more than 6,000 healthcare providers across Nigeria and Senegal. It has facilitated over US$3.4 million in disbursed loans, directly supporting access to medicines for an estimated 183,000 patients every month.
The company’s default rate is below three percent, a strong indicator of the reliability of its data-driven model.
Backed initially by Nwachukwu’s personal savings, the startup later received grants, accelerator program support, and angel investment to scale operations.
The firm plans to expand into Ghana, Ivory Coast, and Mali within the next two to three years, aiming to build a pan-African healthcare credit infrastructure.
How 10mg Pharma Makes Money
10mg Pharma operates on a dual-revenue model combining transaction-based commissions and subscription fees. The startup takes a small commission from every loan successfully disbursed through its platform.
In addition, pharmaceutical vendors and service providers who use its technology pay a monthly Software-as-a-Service (SaaS) fee for access to its AI tools and analytics dashboard.
According to Nwachukwu, this model has proven sustainable.
“Our revenues are growing steadily, with an eight per cent month-on-month increase, and we are on track to scale to millions of dollars in annual recurring revenue (ARR) by 2028,” he said.
The combination of consistent subscription income and loan commissions provides the financial foundation for long-term expansion across multiple African markets.
The Challenges Ahead
Despite its success, 10mg Pharma’s journey has not been without obstacles. The startup faced initial resistance from lenders skeptical about using AI-based credit systems.
Convincing traditional financial institutions to trust algorithmic scoring models took time, as did ensuring compliance with national banking and data regulations.
“Building trust with lenders, navigating regulatory compliance, and educating healthcare providers on using digital credit were major hurdles,” Nwachukwu admitted.
Many clinics, especially in rural areas, were initially unfamiliar with digital loan platforms, requiring intensive onboarding and financial literacy support. Yet each challenge strengthened the startup’s resolve to modernize Africa’s healthcare financing ecosystem.
Why This Matters
Access to timely financing can make the difference between life and death in underfunded health systems. Across sub-Saharan Africa, fragmented credit data and inadequate funding mechanisms have left millions vulnerable when clinics are unable to restock vital medicines.
By creating a data-driven, inclusive financial system for healthcare, 10mg Pharma is directly addressing one of the continent’s most critical structural problems.
Its success demonstrates how technology, particularly AI, can bring trust and transparency to sectors long excluded from traditional banking.
By turning clinics into credible borrowers and enabling lenders to make faster, safer decisions, 10mg Pharma is helping to ensure that financial constraints no longer determine patient survival.
As Nwachukwu summed up, “Each challenge reinforced why our work matters. Without access to safe financing, healthcare systems cannot function.”
Talking Point
In my view, 10mg Pharma represents one of the most promising examples of how technology can drive meaningful social change in Africa’s healthcare sector.
Its use of AI to unlock credit for small clinics is both practical and transformative, especially in regions where lack of financing often leads to medicine shortages and preventable deaths.
What I find particularly compelling is its data-driven approach, which replaces outdated collateral systems with measurable trust built through real-time transactions.
However, for all its innovation, I believe 10mg Pharma’s long-term success will depend on how deeply it embeds equity and transparency into its model. The company must ensure that its AI remains fair, its credit access inclusive, and its expansion sensitive to Africa’s regulatory and infrastructural realities.
If it can strike that balance between profit and purpose, 10mg Pharma could become a cornerstone in building a more resilient, technology-enabled healthcare ecosystem across the continent.
