ADDIS ABABA – mPharma has signed a franchise agreement with Belayab Pharmaceuticals PLC to increase patient access to affordable and quality medications in Ethiopia, through its subsidiary, Haltons Limited.
Based on the agreement, mPharma will leverage its technology platforms, insights, and extensive experience working with hospitals and retail pharmacies across Africa to help Ethiopia achieve universal medical coverage to all its patients.
Through the franchise, mPharma and Belayab Pharmaceuticals aim to open two operational pharmacies in Addis Ababa this year.
Headquartered in Ghana, mPharma, a technology-driven healthcare company acquired Kenya’s second-largest pharmacy chain, Haltons, in 2019, taking control of 27 stores across Kenya.
Currently operational in Ghana, Nigeria, Zambia, Rwanda, and Kenya, mPharma serves about a million patients every year through over 300 partner pharmacies.
In Africa, the pharmaceutical market faces challenges such as sprawling supply chains, low order volumes, and exorbitant prices.
Millions of Africans continue to die from diseases such as malaria, tuberculosis, and Hepatitis B; these diseases can be prevented or treated with timely access to appropriate and affordable medicines and other health services.
With less than 2% of drugs consumed in Africa being produced on the continent, many sick patients cannot afford to buy the medications they need for treatment.
“mPharma is connecting and empowering an inclusive universal medical coverage that benefits everyone in Africa by making access to healthcare affordable and safe,” Gregory Rockson, CEO mPharma, said
“We are excited to be entering the Ethiopian market in partnership with Belayab Pharmaceuticals as we continue to build our long-standing commitment to partnerships for the good health of patients,” Rockson added.
Officials of Belayab Pharmaceuticals believe the entrance of Haltons Pharmacy “will give patients a larger selection and convenience in Ethiopia through a consistent list of options at each location”.
“Pharmacies in Ethiopia are largely driven by family businesses and there is a lack of consistent availability of products throughout the country,” said Michael Ghebru, Shareholder, Belayab Pharmaceuticals.
“Haltons will be a crucial driver to help deliver critical drugs and products to patients throughout the country, including underserved areas,” he added.
The pharmaceuticals campany is part of the Belayab Group that own Belayab Foods (official franchisee of Pizza Hut, ColdstoneCreamery and Burger King), Belayab Motors (Kia Motors assembler), Belayab Cable (Cable manufacturing company) and Golden Tulip hotel in Ethiopia.
Featured Image: A Haltons Pharmacy in Nairobi [photo file/qz]