mPharma Names Kwesi Arhin as CEO, Co-Founder Gregory Rockson Moves to Chairman Amid Market Pressures

Pan-African healthtech company mPharma has appointed Kwesi Arhin as Chief Executive Officer, effective September 1, 2025, marking its first leadership transition to a non-founder. Arhin succeeds co-founder Gregory Rockson, who will step into the role of Chairman of the Board as the company recalibrates its strategy amid difficult market conditions.

The change comes at a pivotal moment for mPharma, which operates across nine African markets but has faced financial strain, including the layoff of 150 employees in 2023. The move underscores the broader challenges confronting Africa’s healthtech sector, where startups have grappled with limited consumer purchasing power, currency volatility, and uneven regulatory environments.

A Tested Operator Steps In

Arhin, who joined mPharma in 2021, has held senior positions including Global Head of Commercial, SVP, and COO. He is credited with driving operational efficiency, market expansion, and commercial growth during turbulent times. His promotion signals a shift toward operational resilience and financial discipline as the company moves beyond its aggressive expansion years.

“Kwesi has demonstrated the ability to lead through complexity and to balance growth with sustainability — exactly what mPharma needs at this stage,” the company noted.

Expansion Model Under Pressure

Founded in 2013, mPharma grew rapidly through acquisitions, including Haltons Pharmacy in Kenya (2019), 55% of Vine Pharmacy in Uganda (2021), and a majority stake in Nigeria’s HealthPlus (2022). Backed by more than $90 million in funding — including a $35 million Series D round in 2022 — the company became one of Africa’s most prominent healthtech startups.

But the 2023 layoffs signaled that its growth-at-all-costs strategy may have stretched resources too thin. Like other players in the sector, mPharma now faces pressure to demonstrate clear profitability and sustainable operations.

Strategic Priorities Under New Leadership

Arhin’s mandate is expected to focus on:

• Strengthening operational resilience across nine diverse markets.
• Expanding access to affordable medicines while navigating regulatory complexity.
• Achieving sustainable growth without overextending resources.

Meanwhile, Rockson’s move to Chairman ensures continuity while allowing for professionalized governance — a structure increasingly common in African startups transitioning beyond founder-led operations.

Sector-Wide Struggles

mPharma’s challenges mirror those of the broader healthtech sector, where companies face capital constraints, supply chain disruptions, and investor skepticism. Competitors have struggled too — Nigeria’s Medsaf shut down entirely, underscoring the difficulty of scaling healthcare businesses in Africa’s fragmented markets.

Analysts say consolidation pressures are likely to intensify, with investors rewarding companies that emphasize unit economics and sustainable growth rather than rapid geographic expansion.

Looking Ahead

For mPharma, the leadership shift could mark a turning point. Success will depend on whether Arhin can optimize operations, deliver sustainable margins, and prove that the company’s acquisitions have created lasting value.

The appointment also signals a broader shift in African tech: founders handing over day-to-day control to professional operators who ca