mPharma is a Ghanaian medtech company innovating in the supply chain of pharmaceuticals in Africa. Its mission is to make quality medicines available to people at low cost. What is the startup's strategy? What are the benefits for the population? Find out in this Fanaka Story.
mPharma: the answer to a major health challenge
In Africa, the drug supply chain is often weak. Many pharmacies find it difficult to manage their stocks and face frequent stock-outs. They resort to intermediaries who unnecessarily lengthen the supply chain and charge high margins, forcing patients to pay three times more for their medicines.
To solve this problem, Gregory Rockson, Daniel Shoukimas and James Finucane created mPharmaa startup that develops technological solutions in the field of health, with the main objective of ensuring an optimal supply of quality pharmaceutical products for the well-being of the population.
Based in Ghana, mPharma has expanded to other African countries such as Nigeria, Kenya, Malawi, Zambia, Ethiopia and Rwanda. It serves nearly 100,000 patients each month through a network of 500 pharmacies.
By focusing its intervention on actions aimed at :
- making the drug supply chain more fluid,
- eliminate inefficiencies in inventory management,
- introduce cost control mechanisms,
mPharma provides its partners, patients and health professionals, with quality products, close to home and at the best price.
Optimising pharmaceutical distribution through digital technology
More concretely, mPharma proposes to optimise the logistics of pharmaceutical products through the management of the drug supply circuit of African pharmacies and pharmacies.
Its expertise is based on :
- its ability to track and aggregate demand,
- its ability to make mass purchases, thus generating an economy of scale which is passed on to the final consumer;
- the deployment of a wide distribution network to ensure the delivery of quality references, even to regions far from economic centres.
Indeed, mPharma has partnered with pharmaceutical companies including Novartis, Bayer and Pfizer, and now manages a network of suppliers in Ghana, Nigeria, Zambia and Zimbabwe. The startup has enabled most of the entities in its network, such as the Red Cross in Zimbabwe, to eliminate stock-outs.
It has also innovated in the area of financing drug treatments by setting up a system of interest-free instalment payments for disadvantaged populations.
In addition, mPharma works with clinics and health centres to run community health screening campaigns. Building on its success, the startup plans to expand its community pharmacies, the "Mutti", which offer a wide range of services, including medical consultations, diagnostic services and telehealth. It aims to become the first point of contact for patients.
After raising $35 million in a Series D funding round, mpharma is activating more pharmacies to expand its network and technology infrastructure. The startup is committed to Africa's health development, contributing to the achievement of the United Nations' third sustainable development goal. Its expansion is eagerly awaited on the continent to address the many inequalities that negatively impact the quality of life of populations.
