Gregory Rockson, the co-founder and CEO of Ghanaian healthtech mPharma for the past 11 years, is stepping down from his role. He will transition to become Chairman of the Board, with the company’s current Chief Operating Officer, Kwesi Arhin, taking over as CEO, effective September 1, 2025.
The leadership shuffle marks a pivotal moment for one of Africa’s most prominent healthtech startups. It follows a period of significant turbulence and strategic recalibration, which has included a major layoff, a fresh funding round, and an aggressive push into new markets.
Arhin, who joined mPharma in 2021, has rapidly risen through the ranks from Global Head of Commercial to COO. His promotion signals a move toward operational consolidation, handing the reins to a leader with deep experience in finance and global consulting. Rockson’s move to Chairman suggests a focus on long-term strategy and governance, a common transition for founders guiding their companies into a new phase of maturity.
A Year of Restructuring
The transition caps off a volatile two-year period for the company. In September 2023, mPharma laid off approximately 150 employees, a decision Rockson attributed to macroeconomic headwinds, particularly the severe devaluation of the Nigerian Naira. The move was part of a broader effort to streamline operations and protect the company’s core business.
Just four months later, in January 2024, mPharma closed a $13.6 million funding round. The investment, which included participation from the Sanofi Global Health Unit Impact Fund, provided the capital to navigate the challenging economic climate and fuel a more focused growth strategy.
This new strategy is most evident in its recent expansion into Francophone Africa. The company recently reported it had grown its business in the region to a $1.5 million annualized revenue run rate in just seven months.
Founded in 2014, mPharma set out to build a network of pharmacies and clinics to improve access to affordable medicine across Africa. Under Rockson’s leadership, it raised over $65 million, including a $35 million Series D round in 2022, and expanded its footprint to Ghana, Nigeria, Kenya, Ethiopia, and Gabon, among others. The company invested heavily in its technology stack, including its pharmacy management software, Bloom, and telehealth services.
However, the recent layoffs and subsequent strategic pivot suggest a shift away from rapid, broad-based expansion toward a more targeted and operationally efficient model. Appointing Arhin, an executive with a strong operational and financial background, aligns with this new chapter. The focus appears to have moved from pure growth to building a sustainable, resilient business in high-potential corridors. Rockson’s continued involvement as Chairman ensures that his founding vision will still guide the company, while Arhin is tasked with executing a more disciplined phase of its journey.