In 2020, the World Health Organisation reported that 70% of
all drugs present in Nigeria were second-generation goods. Such imitations are
usually falsified products, labels and packaging designed to look like those of
genuine products. The aim is to confuse or deceive consumers as to their
quality, source, origin, or legitimacy.
Nigeria anti-counterfeiting software company, Chekkit, said
it has closed a $500,000 pre-seed funding round for its operations, which
primarily entail building technology that aids in protecting consumers from
patronising fake products by using mobile phones for verification.
This was disclosed by Tosin Adelowo, Chekkit co-founder, in
a statement.
Founded in 2018 by Dare Odumade, Chekkit is incorporated in
Nigeria and the USA with particular focus on manufacturers of consumer goods as
well as those of pharmaceutical products.
“Completing the funding is a grant from the Orange Corners
program,” the statement said.
The document further stated Chekkit has helped protect
consumers and producers in both Nigeria and Afghanistan from the dangers of
counterfeit products by providing the consumers with a means to identify
original products over the past few years.
“We deployed a Covid-19 engagement solution in partnership
with the African Union and the AfricaCDC, and we are constantly working with
regulatory and standardisation bodies like NAFDAC, GS1, and the FCCPC to ensure
that the products we use are safe and of the best standards for consumption,”
Mr Adelowo said.
The funds raised are to be utilised in consolidating
anti-counterfeiting and consumer engagement solutions as well as developing
formidable supply chain tracking and infrastructural optimisation technologies.
They will also enable the firm to provide direct protection
for up to 100 million lives globally, Adelowo said, adding that the dream would
be achieved via the expansion of the company’s team of innovators.
According to CEO and co-founder Dare Odumade, “one of the
biggest challenges still facing the pharmaceutical and healthcare systems in
Africa is fake and substandard drugs, weak regulatory environments and lack of
consumer education. Fake and substandard drugs are responsible for thousands of
deaths annually across Africa.”