BluePeak Private Capital has injected a Ksh.1.7 billion investment in Africure to boost Africa’s self-reliance through increased local pharmaceutical manufacturing capacity across the continent.
The investment is aimed to increase affordable access to critical healthcare services in countries with a high burden of disease.
“Africure is a trusted manufacturing and distribution partner that has developed one of the most impactful pharmaceutical businesses across Africa. Our partnership will boost access where there is an urgent need to provide quality and affordable treatment to consumers that need it the most.” said Fulton Shiundu, Principal at BluePeak Private Capital.
The investment will improve access to affordable medicines to treat communicable diseases, infectious diseases such as malaria, and chronic ailments, including diabetes and cardiac conditions.
Africure chief executive Sinhue Noronha said the investment will significantly scale up the number of customers the company serves.
It will also add on top of the already existing workforce to catapult technology dissemination in Africa to realize Africures efforts for sustainable development.
“Our existing capacities and those under creation will positively impact the wellbeing and quality of life of millions of Africans in need,” added Noronha.
With 5 years in operation, Africure has raised approximately Ksh.3.4 billion of revenues through its manufacturing and distribution capacity in Sub-Saharan African countries such as Tanzania, Cameroon, Namibia, Botswana and Côte d’Ivoire.
According to the pharmaceutical firm, Sub-Saharan Africa imports more than 80 percent of its pharmaceutical goods.
The Ksh.1.7 billion capital is a commitment to promote United Nations’ Sustainable Development Goal 3 Good Health & Well-being, Goal 5 Gender Equality and Goal 8 Decent Work and Economic Growth.