Kenya: Ghanaian Tech Firm mPharma Pay Sh30.2 Million in Taxes to Kenya

Nairobi — Ghanaian tech firm mPharma paid the Kenyan Government Sh30.2 million in taxes between January-October 2022 period.

Its tax contribution was the third highest on the African continent after Ghana (Sh118.8 million) and Nigeria (Sh114.7 million).

Other jurisdictions including Zambia (Sh29.4 million), Uganda (Sh12.7 million), Rwanda (Sh9.3 million), and Malawi (Sh1.5 million).

mPharma helps pharmacies and medical suppliers manage stocks.

In March 2019, the startup bought Kenya’s second-largest pharmacy chain, Haltons for Sh500 million.

After the takeover, it took over management of the pharmaceutical’s 20 stores in Nairobi and Mombasa.

The company’s founder in October added that plans were underway to open extra six-outlets to reach 23.

mPharma’s system is now used by 850 pharmacies and drug stores in nine-countries such as Ghana, Zambia, Zimbabwe, among others.

It also partners with 155 hospitals and 2 million patients.

Early this year, mPharma raised Sh4.3 billion ($35 million) to build a network of community hospitals in Africa.

“We are hiring over 100 engineers to build all our technology in-house and this includes a massive data infrastructure we are creating. We are also investing in other skilled talent like doctors and nurses, professionals that are critical in the work we do,” mPharma co-founder and CEO Gregory Rockson told TechCrunch, an American online news platform for start-ups and tech.

“Bloom, our pharmacy management software, will allow us to build structured population health data sets that enable Mutti pharmacies to provide better care pathways to the community they serve,” he added.

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