mPharma, a health-tech startup, has laid off 150 employees due to economic conditions

mPharma, a health-tech startup based in Ghana, has recently laid off 150 employees due to challenging economic conditions caused by the devaluation of the Naira. The company has provided severance packages for affected employees and extended the period for exercising stock options.

The decision to let go of some employees was made to allow mPharma to concentrate its efforts on its primary healthcare business, Mutti, an online pharmacy that caters to over 200,000 patients monthly. mPharma has progressed from managing prescription drug inventories to providing retail pharmacy operations and market intelligence.

Through its technology infrastructure, mPharma links patients, pharmacies, and hospitals through cloud-based software, providing reliable access to medicines. mPharma has broadened its offerings to include telehealth services and facilitated the procurement of vaccines for the Ghanaian government.

mPharma has secured significant investments and has partnerships with over 150 hospitals in nine African countries. The health-tech startup is committed to ensuring that every person on the African continent has access to safe and affordable medicine.