Only three years after joining the shareholding of Amanys Pharma, a Moroccan antibiotics manufacturer and hospital supplier, private equity firm SPE Capital and France's Proparco are exiting the company, selling their shares to Laprophan, a Moroccan pharmaceutical company.
SPE Capital and Proparco are no longer shareholders in Amanys Pharma (formerly Saham Pharma). The Africa-focused private equity firm and the French institution announced on November 11 that they were exiting the Moroccan pharmaceutical group.
Laprophan, a Moroccan drug maker, agreed to buy the stakes for an undisclosed amount.
SPE Capital and Proparco are leaving after three years of investment in the Amanys group. The two partners, who claim to have supported Amanys in its growth by expanding its industrial capacities and improving its governance standards, have not communicated on the profitability (internal rate of return) of this investment.
When they joined Amanys Pharma, SPE Capital and Proparco had committed to accelerating the company's growth, consolidating its position in the antibiotics manufacturing sector in Morocco and supporting its international development.
Once the exit obtains the necessary regulatory approvals, it will be SPE Capital’s second exit via its Africa-focused private equity fund, SPE AIF I.
Morocco manufactures 70% of its drug needs. This contrasts with the whole African continent which produces only 30% of the drugs it needs. According to the African Development Bank (AfDB), the continent spends $14 billion per year on drug imports.
Chamberline Moko
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
Liberia granted TotalEnergies rights to explore four offshore blocks totaling 12,700 km². The French group will run a program including 3D seismic...
Empower New Energy got approval to develop a 4 MW solar plant in Awasi, Kenya. The $2.5 mln deal with Abyssinia Group will supply clean power...
Morocco exported 745,000 tons of tomatoes in 2024/25, generating $1.2 billion. France, the UK, and the Netherlands were the top buyers, with...
Benin has created the Communal Investment Fund (FIC) to replace the FADeC. The fund will help municipalities improve financing, track projects, and...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...