Finance

Burkina Faso to Acquire 70% of Propharm to Strengthen Local Drug Supply

Burkina Faso to Acquire 70% of Propharm to Strengthen Local Drug Supply
Wednesday, 07 May 2025 11:19
  • Burkina Faso’s investment arm will buy a 70% stake in Propharm for $241,583.

  • The deal supports national goals to cut reliance on imported medicine.

  • Propharm is the country’s first generic drug factory, launched in August 2022.

Burkina Faso announced plans to 70% stake of local pharmaceutical company Propharm SA through its state investment arm, the National Deposits and Investment Fund (CDI-BF). The decision was approved during the May 2 Council of Ministers led by the President Captain Ibrahim Traoré.

The government will buy out the majority shareholder’s stake for CFA140 million, or about $241,583. This deal is part of a broader strategy to increase local drug production, make essential medicines more available across the country, and reduce Burkina Faso’s dependence on imports.

Launched in August 2022, Propharm is the first factory in the country to manufacture generic medicines. The company was founded by a group of Burkinabe pharmacists led by Dr. Palingwindé Armel Koéfé, with an initial capital of CFA200 million. The project represented an investment of nearly $23 million, and its goal is to become a key player in both the production and distribution of generic medicines in Burkina Faso.

The takeover is also seen as a response to regional challenges like overreliance on imported drugs and the growing threat of counterfeit medicine. By increasing domestic production, Burkina Faso hopes to strengthen its pharmaceutical independence and improve access to safe, affordable healthcare.

CDI-BF, which will lead the acquisition, is a public financial institution with a special status. It manages both public and private funds entrusted to it, and plays a major role in supporting public policy. Through strategic investments like this one, CDI-BF works to advance national development goals and support local communities.

On the same topic
• WAEMU’s tax revenue remains far below the 20% benchmark, stuck at 14% of GDP• IMF projects target may not be reached before 2048, possibly as late as...
Emerging Africa & Asia Infrastructure Fund (EAAIF) raises $325 million in new round Funds to support infrastructure in renewable energy,...
• The Islamic Development Bank will provide Algeria with $3 billion over three years.• Funds will support development projects including expansion...
• IFC plans to grant a $30 million loan to Banque El Amana, pending June 2025 board approval.• The funding will increase credit access for MSMEs,...
Most Read
01

The African Development Bank has approved a $304 million loan to Botswana to support the southe...

African Development Bank Approves $304 Million Loan to Support Botswana's Fiscal Stability and Economic Reforms 
02

BRVM and Africa50 signed a deal to create new infrastructure financing tools The plan inclu...

BRVM and Africa50 Partner to Fund Infrastructure in WAEMU
03

The Economic Community of West African States (ECOWAS) parliamentarians met in Lomé from May 6 to 9,...

ECOWAS Parliament Calls for Airfare Tax Cuts to Make Flying Affordable
04

Nigeria’s audit industry grew 65% in 2024, reaching 28.2 billion naira ($14.4 million). KPMG, EY,...

Big Four Hold 99% Share of Nigeria’s Audit Market in 2024
05

Africa’s digital economy is growing rapidly, and the demand for data storage, processing power, and ...

Safaricom and iXAfrica Launch East Africa’s AI-Ready Data Centre Services
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.