Afreximbank partners with Med Aditus to boost local pharmaceutical production

By Peter Ochieng

African Export-Import Bank (Afreximbank) and Kenya-based Med Aditus Pharmaceutical Kenya Limited (Med Aditus) have signed a project preparation facility agreement to boost local pharmaceutical production.

The agreement was signed during this week’s fourth edition of the African Sub-Sovereign Governments Network (AfSNET) Conference in Kisumu.

The project preparation facility will be deployed to part-finance the preparation of feasibility studies towards the development of Med Aditus’ pharmaceutical manufacturing plant.

Estimated to cost US$ 40 million about Sh5.1 billion, the plant will be situated on 10 acres of land in Kibos, Kisumu County, and will boast an annual production capacity of two-billion tablets/capsules.

According to a press release from Afreximbank, the specialist plant will focus on the production of tablets and capsules to treat non-communicable diseases including cardiovascular cases, diabetes and cancer, as well as infectious diseases from HIV and malaria to tuberculosis.

The plant will also produce drugs targeting neglected tropical diseases. The establishment of the pharmaceutical manufacturing facility is expected to strengthen and boost local production of essential medicines, improving access to more affordable and quality medicines across Kenya and neighbouring countries.

Kisumu governor, Professor Peter Anyang’ Nyong’o and Mrs. Kanayo Awani, Executive Vice President Intra African Trade and Export Development witnessed the signing of the agreement.

Zitto Alfayo, Head of Project Preparation at Afreximbank signed the agreement on behalf of the Bank while Dr. Dhiren Thakker, Chief Executive Officer of Med Aditus signed on behalf of his company.

Commenting on the transaction, Awani, welcomed the establishment of the Med Aditus Pharmaceuticals project.

“Afreximbank is committed to enhancing partnerships with local and international stakeholders to boost investment and support innovative technologies. The project’s strategic location in Kisumu, at the heart of the Great Lakes Region gives it access to markets in Kenya, Uganda, Tanzania, DR Congo, Rwanda, Burundi and South Sudan thereby promoting Intra-African trade within the AfCFTA context.”

“I am particularly thrilled by the critical role the County Government of Kisumu played in support of this project by availing the project site and facilitating the partnership with the Great Lakes University of Kisumu to support local technical skills and capacities. This once again highlights the transformative roles sub-sovereign governments play as engines for broad-based economic development,” she added.

Dr. Thakker, expressed enthusiasm about the agreement stating: “Med Aditus Group is excited to partner with Afreximbank to establish a first-of-its-kind pharmaceutical manufacturing enterprise in Kisumu, Kenya. The plant will facilitate access to high-quality affordable medicines to the citizens of Kenya, East Africa, and the continent at large. Med Aditus Group’s commitment is to promote rapid growth of local pharmaceutical manufacturing that will enhance healthcare outcomes of the people and stimulate economic development throughout the region.”

Med Aditus Pharmaceuticals Kenya Limited was established as a special purpose vehicle to design, develop, finance, operate and maintain the pharmaceutical plant on land secured through a concession agreement with the County Government of Kisumu.