Award-winning startup targets affordable medicine for every African
eBbay billionaire Jeff Skoll donates $1.5m to Ghana-based mPharma, which manages drug supply for multiple pharmacies so that it can negotiate bulk prices
Dakar — A Ghana-based startup has received $1.5m from eBbay billionaire Jeff Skoll to support its work in changing Africa’s pharmaceutical industry to make medicines more affordable. mPharma is one of five social businesses to receive awards from the Skoll Foundation at this week’s Skoll World Forum, Britain’s leading event for social enterprise. Pharmacy owners in African countries such as Ghana and Nigeria have to negotiate prices individually with drug suppliers, meaning the same medicine can cost different amounts in different pharmacies, said mPharma founder Gregory Rockson. Because there is little regulation, drug prices are marked up by middlemen and often become exorbitant, he said. Bulk prices mPharma works by managing drug supply for multiple pharmacies, so it can negotiate bulk prices and redistribute medicines as needed. The pharmacists only pay for what they sell, which incentivises mPharma to keep prices low. “We want every African patient to be able to get access to ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.