mPharma, a pan-African technology-driven healthcare company, has appointed Kwesi Arhin as its new Chief Executive Officer. He becomes only the second CEO in the company’s history and the first non-founder to take on the role. Co-founder Gregory Rockson, who has led the company since its founding in 2013, will transition to Chairman of the Board.
Arhin joined mPharma in 2021 and has held senior positions, including Global Head of Commercial, Senior Vice President and Chief Operating Officer. His promotion comes at a time when the company is expanding its footprint while also facing growing pressures across the African healthtech sector.
Since launch, mPharma has raised more than $90 million, including a $35 million Series D in 2022. It has pursued a strategy of acquisitions to strengthen its presence, buying a majority stake in Nigeria’s HealthPlus in 2022, a 55% stake in Uganda’s Vine Pharmacy in 2021, and Haltons Pharmacy in Kenya for $5 million in 2019. The company now operates in nine countries, including Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda, Uganda, Gabon and Ethiopia.
Despite its reach, the company has also faced challenges. In 2023, it laid off 150 employees as macroeconomic conditions tightened across its markets. The layoffs reflected the broader pressures in Africa’s healthtech space, where growth potential is high but the operating environment remains difficult. Last year, Nigerian startup Medsaf shut down due to financial struggles.
Under Arhin’s leadership, mPharma will look to cement its position as a pan-African technology-driven healthcare company while also pushing for sustainable growth in a volatile market.
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