(Ecofin Agency) - Africa could be the second continent with more business opportunities in the health sector, Vera Songwe (photo), executive secretary of the UN’s economic commission for Africa, indicated last Tuesday.

The official indicated that by 2030, the continent should present 14% of all the business opportunities in the health and wellness sector, after North America (21%).

The health sector could also create 16 million jobs thus helping reduce unemployment.

On a continent where the demand for health services is high but the offer low, the private sector could play a decisive part. According to Vera Songwe, Africa could reduce its pharmaceutical products imports, which is $14 billion yearly, and develop a local industry with the arrival of new private firms.

 “This is a great opportunity for the private sector”, she said.

But, governments will have to support investors with adequate measures on a market dominated by counterfeited drugs (7 out of 10 drugs are counterfeit in Africa, according to the WHO), which are generally less costly than original’s.

Moutiou Adjibi Nourou