In a major development for Africa’s healthcare landscape, LeapFrog Investments has finalized its full exit from Goodlife Pharmacy, East Africa’s leading retail pharmacy chain, paving the way for CFAO Healthcare to assume 100% ownership.
CFAO Healthcare, a pan-African pharmaceutical distribution powerhouse and a subsidiary of Japan’s Toyota Tsusho Corporation, completed the acquisition following its initial partial purchase in 2022. The move marks a strategic consolidation that brings Goodlife’s entire network, spanning over 150 outlets across Kenya and Uganda and serving more than 2 million customers annually, under CFAO’s stewardship.
LeapFrog, which first invested in Goodlife in 2017, was instrumental in its transformation from a modest pharmacy chain into a trusted healthcare brand. The impact investor supported digital innovation, strengthened supply chains, and bolstered leadership capacity, enabling the chain to expand rapidly and navigate challenges such as the COVID-19 pandemic.
“This is a powerful demonstration of what’s possible in African healthcare with the right capital and the right partner,” said Dr. Biju Mohandas, Global Head of Healthcare at LeapFrog.
CFAO Healthcare CEO Jean-Marc Leccia commended LeapFrog’s contributions, noting that Goodlife now stands as a model for accessible, quality care in the region. Goodlife CEO Justin Melvin welcomed CFAO’s full acquisition, saying it would accelerate the company’s mission to enhance health outcomes across East Africa.
The deal, which received all necessary regulatory approvals, was advised by Nedbank and law firm Bowmans. It underscores growing investor confidence in Africa’s retail health sector and sets a benchmark for expanding affordable, high-quality healthcare in underserved markets.
Written By Rodney Mbua
