Background
Rocket Health last year opened a wholesale business unit to facilitate convenient sourcing and supply of pharmaceutical and medical supplies for pharmacies, clinics, hospitals and other institutions. In order to minimise the barriers of cashflow deficits and reduced chances of inventory stockouts, Rocket Health has partnered with Pezesha, a credit financing institution that will enable extension of credit terms to qualififying retailers.
Frequently Asked Questions (FAQs)
Rocket Health is Uganda’s leading digital health provider, serving the needs of retail businesses and individual customers. Our wholesale business unit facilitates convenient sourcing and supply of medical supplies and medicines for pharmacies, clinics, hospitals and other institutions. Clients access a variety of competitively priced products through our warehouse in Bugolobi (Plot 6 Muwesi Road, Bugolobi, Nakawa Division, Kampala) and an online platform designed to specifically address your needs as a retailer (wholesale.rockethealth.africa).
Pezesha is a credit financing institution that helps medical facilities such as Pharmacies, Clinics and Hospitals to purchase stock from Rocket Health. It provides up to 14m UGX in credit financing upon confirmation of KYC (Know Your Customer) information and historical transaction data to enable medical facilities to purchase the inventory they need to operate their businesses.
Rocket Health is extending credit facilities to all its customers who are using the wholesale online platform. This credit facility is powered by Pezesha, who guarantee payment for stock to Rocket Health, and in turn the pharmacies that take stock on credit from RocketHealth, then pay what they owe to Pezesha.
Rocket Health provides the inventory, facilitates procurement through its online platform, provides KYC information and historical transaction data to Pezesha to assess the credit worthiness of medical facilities. Rocket Health also plays the role of relationship management between Pezesha and medical facility clients.
Pezesha provides credit financing to the medical facilities by paying Rocket Health to supply inventory to partner medical facilities and in turn Pezesha collects the amounts owed with 4% interest through bank deposits.
To gain access to this credit facility, interested medical facilities must register on Rocket Health’s online wholesale platform https://wholesale.rockethealth.africa and start transacting by placing orders for pharmaceutical products ranging from prescription medicines, Over-The-Counter (OTC) medicines, Cosmetics and many other related products.
Loans are taken for a period of 30 calendar days.
An interest of 4% is charged for the period of 30 days.
You will be given a grace period of 2 days after which a penalty will be charged?
For a delay of three (3) to fifteen (15) days a quarter of daily interest rate will be charged i.e 0.0003%.
For a delay of sixteen (16) to thirty (30) days, half of the daily interest rate will be charged i.e 0.0007%.
For a delay of thirty one (31) to one hundred and eighty (180) days, the penalty shall be full daily interest rate i.e 0.0013%.
Your current bank-to-bank transfer charges will be borne by the customers.
Medical facilities can purchase a variety of inventory through this credit arrangement, including medications, cosmetics, and other supplies.
You can apply for credit through your registered account on Rocket Health’s online wholesale platform by making an order and selecting credit as your payment method.
The amount of credit you can apply for will depend on a variety of factors, including your KYC, transaction history and computed credit score. The system will use data from your previous orders placed with us to determine the appropriate credit limit for your needs.
Within a few minutes provided, you have the required KYC information uploaded on the online wholesale platform https://wholesale.rockethealth.africa and have a transaction history with Rocket Health. This all happens digitally and automatically with no human intervention, no paperwork and no need to see anyone in-person.
Yes, we take data security and privacy very seriously. All of our application processes are secure and compliant with industry standards to protect your personal and financial information.
