Ola Brown emerges only Nigerian finalist for 2026 AWIEF Impact for Good Award

Dr Ola Brown, General Partner at HealthCap Africa, has emerged as the only Nigerian among three finalists for the 2026 Africa Women Innovation and Entrepreneurship Forum (AWIEF) Impact for Good Award, in recognition of her contributions to healthcare innovation, investment and economic development across the continent.

Brown, a medical doctor turned finance and investment professional, was shortlisted for the award, which celebrates women whose work has delivered measurable social and economic impact in Africa.

She will compete for the honour alongside Nada Ghammem of Tunisia and Echo Nomsa VanderWal of Eswatini. The winner will be announced at the AWIEF Awards Gala in Cape Town, South Africa, on November 11, 2026.

Her nomination comes against the backdrop of persistent funding constraints in Africa’s healthcare sector, where limited access to investment capital continues to impede the growth of businesses developing solutions to the continent’s health challenges.

At HealthCap Africa, Brown leads a specialist investment fund that backs early-stage healthcare and financial technology companies across Africa, providing equity financing to businesses seeking to develop innovative products, expand operations and improve access to essential services.

The fund’s portfolio companies operate in 10 African countries, collectively supporting about 1,000 jobs and providing services to approximately two million patients.

The investment model focuses on helping young businesses build the operational capacity, governance structures and financial systems required to achieve sustainable growth and attract larger institutional investors.

Brown’s professional background spans medicine, finance and investment. After training as a medical doctor, she obtained a master’s degree in finance and has accumulated about 10 years of investment experience. She is also pursuing doctoral studies in finance.

Beyond her work at HealthCap Africa, she chairs the Credit Committee of a Nigerian financial institution and serves on the executive committee of Women in Finance Nigeria.

Her career reflects an approach that combines healthcare knowledge with financial expertise to address structural barriers to investment in health-related businesses.

The recognition also draws attention to the wider challenge of mobilising private capital for healthcare delivery and innovation in Africa, particularly in countries facing high maternal and child mortality rates.

Nigeria remains a major contributor to the global maternal mortality burden. Estimates cited in the manuscript indicate that the country accounted for about 28.7 per cent of maternal deaths worldwide in 2023, representing approximately 75,000 deaths.

Similarly, UNICEF estimated Nigeria’s under-five mortality rate at about 116 deaths per 1,000 live births in 2024, highlighting the scale of the country’s child-survival challenges.

Despite these pressing needs, healthcare businesses across the continent continue to struggle to secure the financing required to develop new technologies, strengthen service delivery and expand their reach to underserved populations.

Data from the African Private Capital Association showed that African healthcare companies secured 27 venture capital deals worth $43 million in 2024, the sector’s lowest level of venture funding since 2018.

The funding gap presents a challenge for businesses attempting to scale solutions in areas such as healthcare delivery, medical technology and digital health, where companies often require substantial early-stage financing before they can demonstrate the operational maturity and financial performance expected by larger investors.

HealthCap Africa’s investment strategy seeks to bridge part of this gap by providing early-stage equity to companies that may not yet qualify for larger institutional funding.

Such financing enables businesses to develop and refine products, recruit personnel, strengthen governance and financial management systems, and grow revenues before approaching investors with greater capital resources.

Brown has argued that discussions about making African businesses bankable should pay greater attention to how young companies finance the process of becoming mature, investment-ready enterprises.

“Before Africa can have more large, institutionally investable healthcare companies, smaller companies need capital to grow into them,” she said.

Her position highlights the importance of early-stage investment in building a pipeline of healthcare businesses capable of attracting larger pools of capital and expanding access to services across African markets.

Brown has also emphasised the need for stronger collaboration among specialist investment funds, governments and philanthropic organisations to address the continent’s healthcare financing challenges.

While public and philanthropic funding remains essential, particularly in areas where commercial returns are difficult to achieve, private investment can support the expansion of businesses with viable models for delivering healthcare services at scale.

The combination of public resources, philanthropic support and private capital could help healthcare companies introduce new technologies, improve operational efficiency, reduce delivery costs and extend services to communities with limited access to care.

For investors, the development of stronger healthcare enterprises could also create opportunities to generate financial returns while addressing critical social needs.

The AWIEF Awards were established in 2017 to recognise women entrepreneurs and business leaders whose contributions support Africa’s economic growth, innovation and social development.

The platform also seeks to promote women’s participation in entrepreneurship and leadership by highlighting individuals and enterprises making a difference across the continent.

Brown’s emergence as a finalist places her healthcare investment work among the initiatives being recognised by the forum in 2026, with her selection also highlighting the role of investment in strengthening Africa’s healthcare ecosystem.

As the continent continues to grapple with healthcare funding shortages and poor health outcomes, the ability of early-stage businesses to attract capital and scale their operations remains an important part of efforts to improve service delivery.

The outcome of the award will be determined at the AWIEF Awards Gala in Cape Town on November 11, where Brown will compete against the two other finalists for the Impact for Good Award.