A Nigerian startup focused on digitizing the pharmaceutical supply chain to ensure quality medication procurement.
10 African startups that shut down in 2025
Four startups across Nigeria and East Africa shut down or suspended operations in the first quarter of 2025. Fintech sector experienced the highest number of shutdowns, with eight out of ten closures occurring in Nigeria.
Condia Insider: Why African healthtech is struggling
Ilara Health in Kenya has laid off staff after restructuring despite securing a $4.2 million funding round. Medsaf in Nigeria has shut down due to struggles with fundraising and unpaid invoices.
mPharma Names Kwesi Arhin as New CEO, Marking First Non-Founder Leadership
Kwesi Arhin has been appointed as the new CEO of mPharma, effective September 1, 2025. Arhin is the first non-founder CEO in mPharma's history, succeeding co-founder Gregory Rockson.
mPharma appoints Kwesi Arhin as new CEO
Kwesi Arhin has been appointed as the new CEO of mPharma, becoming the first non-founder to take on the role. Co-founder Gregory Rockson will transition to Chairman of the Board after leading the company since its inception in 2013.
Nigeria’s Medsaf quietly shuts down after raising over $7 million to digitise drug supply
Medsaf shut down operations in March 2024 after failing to recover outstanding debts. The startup raised over $7 million since its launch in 2016 but ran out of funds by January 2023.
