Mytherapist.ng Launches Pay-Later Therapy Option to Expand Access to Mental Health Care
Mytherapist.ng partners with MyItura to offer pay-later therapy financing through Mediloan.
In Brief
- •Mytherapist.ng partners with MyItura to offer pay-later therapy financing through Mediloan.
- •The platform introduces in-person therapy sessions at Café One locations across Nigeria.
- •Approximately 20% of Nigerians experience mental health conditions, yet fewer than 10% receive adequate care.
- •Mytherapist.ng 2.0 aims to address financial barriers to accessing therapy services.
- •MyItura assesses users' eligibility for financing based on identity, repayment capacity, and financial obligations.
Why It Matters
Mytherapist.ng's new pay-later therapy option addresses a significant barrier to mental health care in Nigeria, where financial constraints often prevent individuals from accessing necessary treatment. This initiative aligns with global trends in healthcare financing and could set a precedent for similar platforms in other regions. The expansion of in-person therapy sessions further enhances accessibility, particularly for those who may prefer face-to-face interactions. By leveraging technology and strategic partnerships, Mytherapist.ng is contributing to improved mental health outcomes in Nigeria.
Key Details
- Percentage of Nigerians with Mental Health Conditions
- 20%
- Percentage of Nigerians Receiving Adequate Mental Health Care
- Less than 10%
- Out-of-Pocket Spending on Health in 2020
- 74.7%
- Non-Performing Loan Rate at MyItura
- 0.5%
- Typical Repayment Term for Mediloan
- 3 months
Context & Background
Approximately 20% of Nigerians experience mental health conditions, yet fewer than 10% receive minimally adequate care. In 2020, out-of-pocket spending accounted for 74.7% of health expenditure, highlighting the financial barriers to accessing mental health services.
Original Reporting & Sources
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