Gregory Rockson, a Ghanaian entrepreneur and the founder of mPharma, revealed over the weekend that his healthcare startup mPharma will pay more than $4 million in taxes this year.
Founded in 2013 by Rockson, Daniel Shoukimas, and James Finucane, mPharma manages pharmaceutical inventories for African mom-and-pop pharmacies. It also offers unique financial and inventory management solutions to hospitals, as well as patients directly.
In a tweet on his official Twitter account over the weekend, Rockson stated that mPharma, which is presently planning a move to the UK, paid up to $270,000 in taxes across all markets in July, and is on track to pay more than $4 million this year.
“We paid over $270,000 in taxes across all our markets in July. We will likely pay over $4 million in taxes this year. I am very proud of this and want us to be in a position to pay more in the future,” he said.
According to a breakdown of the $270,000 July tax levy, mPharma paid $126,100 to the Nigerian government, and $85,200 to the Ghanaian government. The Ghana-based healthcare startup also paid taxes in Zambia, Kenya, and Rwanda, totaling $23,100, $21,800, and $5,600, respectively.
“I want us to have good leaders who can use these taxes to develop Africa,” he said.
In January, mPharma received $35 million in a Series-D funding round led by Citigroup Inc., a top U.S. investment bank, to expand its operations across existing and new markets through the launch of its pharmaceutical e-commerce platform.
Since its inception more than nine years ago, mPharma has gone on to disrupt the African healthcare market, servicing about 1 million patients annually through 300 partner pharmacies in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda, Ethiopia, and Gabon.