NAIROBI, Kenya, July 29 – CFAO Healthcare, the pharmaceutical arm of Toyota Group, has acquired 100 percent ownership of Goodlife Pharmacy as it looks to expand its footprint in East Africa’s healthcare market.
The move follows regulatory approval from the COMESA Competition Commission and comes three years after CFAO acquired a 30 percent stake in Goodlife.
Jean-Marc Leccia, CEO of CFAO Healthcare, said the acquisition reflects the company’s ambition to expand access to affordable and quality medicines across the continent.
“We are keen on providing medical access to a huge number of the African population,” he said.
“Together, we will enhance accessibility, service quality, and innovation in the pharmaceutical sector.”
CFAO Healthcare seeks to bank on Goodlife Pharmacy’s portfolio of over two million customers annually through its 150 outlets across Kenya and Uganda.
Goodlife’s services currently range from in-store diagnostics and telemedicine to e-commerce and home delivery.
“The partnership with CFAO Healthcare represents a unique opportunity to expand this mission, bringing even greater impact and value to our customers and communities,” Goodlife CEO Justin Melvin said.
LeapFrog Investments, which has been a key investor in Goodlife, also supported the deal.
Biju Mohandas, partner and head of global healthcare investments at LeapFrog, contended that the acquisition would enable greater access to affordable pharmaceuticals across Africa.
CFAO plans to build on Goodlife’s market position by expanding into new regions, including Tanzania and parts of Southern Africa.
The move is expected to intensify competition in the region’s growing retail health space in the face of sustained demand for accessible Medicaid.
According to Statista, the overall pharmacy market in Kenya is projected to generate approximately Sh156.2 billion in revenue by 2025, growing at a compound annual growth rate (CAGR) of 4.66 percent to reach an estimated Sh188.4 billion by 2029.
Within this, the prescription drugs segment is expected to record revenues of around Sh21.3 billion in 2025, with a CAGR of 3.76 percent, rising to Sh24.7 billion by 2029.
On a per capita basis, pharmacy revenue is estimated at about Sh2,730 per person in 2025.
