In the latest episode of Marketplace Africa, CNN speaks with Joke Bakare, the founder and CEO of MedPlus Health and Beauty Limited, about her original dream for the business and how diversification and going online play a role in the company’s growth strategy moving forward.
Bakare tells CNN about the evolution of her business, “At the beginning, MedPlus started as Medicines Plus. Quite a long name. And all we sold at the time was just medicines. The next turning point was the introduction of Beyond Med Plus, which is a health and beauty store. I’m very proud of that. That has really done very well. We kind of narrowed it. Once we saw that segment was growing, we invested a lot in it. We have a wide category of skincare for whatever your needs would be.”
Building a business also means being able to incorporate technology. Bakare explains the challenges she’s faced trying to balance a physical and digital business, “Healthcare is personal. It’s a one-on-one thing. It’s a touch-and-feel thing. So, in the future, we know the digital landscape is going to evolve, especially with customers owning their own information. […] over the years, the digital landscape will continue to increase.”
She continues on AI’s assistance, “AI in particular, we used to be more efficient with our operations. If you go to any of our stores and buy anything, it’s automatically reordered. So, in terms of operational efficiency, AI has been number one.”
Bakare ends by looking at what the future holds for MedPlus, “I see us being part of this wellness longevity, just helping you live a better, healthier lifestyle, whatever that means, whether it’s in more brick and mortar stores, whether it’s increased penetration with the people we partner with.”
These interviews were featured on the latest episode of Marketplace Africa on CNN International.
