[Transcript] #37: mPharma - How the HealthTech supply chain platform is providing services to pharmacies & patients across Africa
Recorded Sep 5 2021
Hello! Bankole here:
This note includes the transcript of our episode on mPharma, the healthcare company with ambitions to become the primary healthcare service provider for millions of Africans.
Since our 2021 discussion, mPharma has gone through highs and lows. Despite raising $35M in 2022, they have not been immune to the African startup winter. Nigeria happens to everybody eventually, and mPharma laid off 150 employees putting the blame on the declining currency. Mutti, the online pharmacy is the business’ primary focus despite their expanding physical footprint. In the new mPharma, employees are expected to work in person at least 3 days a week and in the words of the founder: “everyone will be stretched to their limits”.
The outlook remains positive. mPharma is expanding its physical footprint as well, buying stakes in pharmacy chains in Nigeria, Kenya and Uganda. They also have ambitions to grow their customer base 10x in the next few years.
Listen here and find the transcript (for paid subscribers) below.
Have a great week,
Bankole.
Transcript starts here.
[00:00:00] Olumide Ogunsanwo: Welcome to Afrobility, a conversation about African business and technology. Today, we're going to talk about MPharma, the Ghanaian prescription drug inventory management company. We'll explore the MPharma story across six different areas.
First, we'll talk a little bit about the African healthcare context. We'll discuss MPharma's founding and early history. Third, we'll discuss its fundraising and growth. Fourth, product demonetization strategy. Fifth, its competitive positioning and potential exit options. And then sixth, we'll end with our overall outlook. This episode was recorded on September 5th, 2021.
BCF, how goes it?
BCF? BCF can work. You know what BCF is? It's like Discounted Cash Flow, but Banky Cash Flow.
[00:00:42] Bankole Makanju: I like it. I like it. It's cool. I like it. It sounds nerdy. Let's call our venture fund Banky Cash Flow Ventures. BCF Ventures, exactly. So, how are you? Great. I'm good. I'm in New Jersey just coming off a Super intense wedding