G20-Germany-Hamburg-2017

ADVOCACY
AMSCO
Human capital for growth
and sustainability
Africa’s pharmaceutical industry
grew to an estimated $20.8 billion
in 2013, from just $4.7 billion in 2003.
Prescription drugs are expected to
grow at a compound annual rate of
6 per cent, generics at 9 per cent and medical
devices at 11 per cent between 2013 and 2020.
Although relatively small compared to other
markets, Africa’s pharmaceutical sector is
considered the fastest-growing in the world –
great news for businesses and entrepreneurs
looking for opportunities in developing markets.
The African Management Services Company
(AMSCO) supported one of the fastest-growing
health and beauty chains in East Africa, Goodlife
Pharmacies Limited, to achieve best practice and be
a real growth story about Kenya’s booming sector.
Rapid expansion
A start-up business in 2014, the company grew
from zero to 26 stores – 10 acquisitions and 16 new
branches in 2017. With aspirations to become the
largest pharmaceutical retail chain in the East Africa
market, their expansion is a reality – displaying
a true sense of entrepreneurship in Africa.
Goodlife is a prime example of what happens
when the public and private sector partner for
social and economic development. In March 2015,
the International Finance Corporation invested
$4.5 million into the business to assist with the
company’s expansion plans.
In addition to mobilising the
necessary financial resources,
Goodlife has made an effort to
acquire the requisite technical
and managerial skills to support
its growth strategy.
A provider of human capital
development solutions to private
and public businesses across
sub-Saharan Africa, AMSCO was
instrumental in the recruitment
and secondment of the company’s
Chief Executive Officer, Chief Operations Officer
and Retail Human Resources Manager. Leadership,
training support and skills transfer were required to
build the business from ground up.
Goodlife is steadfast on harnessing its
pharmaceutical management skills pool. This
includes skills in supply chain management,
A start-up business
in 2014, the company
grew from zero
to 26 branches
There are now 26 Goodlife pharmacies in East Africa
entrepreneurship, financial and marketing
management.
Goodlife’s staff numbers have
grown, from 64 in 2014 to 172 in
April 2017, and the staff retention
rate currently stands at 91 per cent.
Goodlife’s growth is proof Africa
needs innovative solutions for
human capital at scale to generate
growth. There’s also a need for the
public sector, private sector and
service providers to work together
to build the continent. We cannot
change Africa by doing the same
things we have been doing. The continent requires
a mind-set change from doing business as usual to
partnership-driven capacity interventions.
AMSCO works with the private sector,
governments, development financiers and
development agencies to achieve large-scale
socio-economic transformation of Africa.
MPHO
KGOSIDINTSI
Marketing and
Communications
Manager
AMSCO
33 Fricker Road
Illovo Boulevard
Illovo, Johannesburg
www.amsco.org