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Afreximbank Partners with Med Aditus to Establish Pharmaceutical Manufacturing Plant in Kisumu, Kenya

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Mr. Zitto Alfayo, Head of Project Preparation at Afreximbank (left), and Dr. Dhiren Thakker, CEO of Med Aditus (right), sign the agreement in Kisumu, Kenya. Looking on are Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, and Prof. Peter Anyang’ Nyong’o, Governor of Kisumu County
Mr. Zitto Alfayo, Head of Project Preparation at Afreximbank (left), and Dr. Dhiren Thakker, CEO of Med Aditus (right), sign the agreement in Kisumu, Kenya. Looking on are Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, and Prof. Peter Anyang’ Nyong’o, Governor of Kisumu County

On November 28, 2024, Afreximbank and Med Aditus Pharmaceutical Kenya Limited signed a project preparation facility agreement to part-finance the preparation of feasibility studies for a new pharmaceutical manufacturing plant.

This agreement was made at the margins of the 4th African Sub-Sovereign Governments Network (AfSNET) Conference held in Kisumu City, Kenya.

The $40 million pharmaceutical plant, to be located on a 10-acre site in Kibos, Kisumu County, will have the capacity to produce two billion tablets/capsules annually. The facility will focus on producing medicines to treat non-communicable diseases such as cardiovascular diseases, diabetes, and cancer, as well as infectious diseases like HIV, malaria, and tuberculosis, along with neglected tropical diseases.

The plant will use state-of-the-art continuous manufacturing technology and integrate a blockchain-powered quality management system, setting a first-of-its-kind precedent for pharmaceutical production in Africa. It will be fully compliant with Current Good Manufacturing Practices (cGMP), ensuring the highest quality standards.

The project is expected to strengthen local production of essential medicines, improving access to affordable, quality drugs in Kenya and neighboring countries. It aims to enhance resilience to supply chain disruptions, reduce reliance on imports, and combat the proliferation of counterfeit medicines.

Afreximbank’s involvement is part of its Africa Health Security Investment Plan, which supports the continent’s pharmaceutical manufacturing efforts. This initiative is essential for addressing Africa’s health investment challenges, promoting economic development, and improving health security across the region.

Afreximbank’s Executive Vice President for Intra-African Trade and Export Development, Mrs. Kanayo Awani, welcomed the project, emphasizing the strategic importance of the plant’s location in Kisumu. The facility’s location will facilitate access to regional markets in Kenya, Uganda, Tanzania, DR Congo, Rwanda, Burundi, and South Sudan, promoting Intra-African trade within the framework of the African Continental Free Trade Area (AfCFTA).

Dr. Dhiren Thakker, CEO of Med Aditus, expressed excitement about the collaboration, noting that the project would improve healthcare outcomes and stimulate economic development in the region. By leveraging innovative technologies such as continuous modular manufacturing and blockchain for logistics and patient engagement, the plant aims to make high-quality affordable medicines more accessible across the continent.

The plant, developed as a special purpose vehicle (SPV) by Med Aditus, will receive $26 million in debt financing and $14 million in equity financing. This partnership with Afreximbank and the County Government of Kisumu underscores the growing collaboration between public and private sectors in advancing healthcare in Africa.

The agreement was signed in the presence of His Excellency Professor Peter Anyang’ Nyong’o, Governor of Kisumu County, and Mr. Zitto Alfayo, Head of Project Preparation at Afreximbank, who represented the bank during the signing ceremony.

The AfSNET Conference, hosted by Afreximbank, Kisumu County, and the United Cities and Local Governments of Africa (UCLGA), focused on the role of Sub-Sovereign governments in driving trade and investment under the AfCFTA. The event, which drew over 900 delegates, was officially opened by President William Ruto of Kenya.

Through this partnership, the project aims to become a landmark in Africa’s pharmaceutical manufacturing sector, advancing the region’s health security and economic growth.

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