Hikma Pharmaceuticals obtained $200 million from the International Finance Corporation IFC to improve its drug distribution service in the MENA region.
This credit line includes a loan of up to $150 million from the IFC's account and a trust loan of up to $50 million from foreign investors interested in increasing their exposure to emerging markets. It will be used to meet the beneficiary's working capital needs and finance its expenditures over the next two years. Part of the money will also be pumped into the production and marketing of generic drugs in the MENA markets.
"We are pleased to continue this partnership with IFC. Hikma is committed to delivering essential medicines to its customers and patients during this critical time. IFC's financing will help us maintain this momentum and will be used for general corporate purposes that support our strategic growth plans," said Khalid Nabilsi, Hikma’s Chief Financial Officer.
This long-term loan is part of the $8 billion fast-track COVID-19 facility set up by the financial institution to support its clients and enable them to cope with the operational and financial impact of the covid-19 pandemic.
Chamberline Moko
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Cameroon’s exports of household bar soap rose sharply in 2025, reaching 74,208 tons, up from 56,624 tons in 2024, according to the latest foreign trade...
Burkina Faso targets 6.1% growth in 2027 under plan Revenues and spending rising; deficit projected near 2.8% GDP Outlook supported by gold,...
IMF approves $266M RSF financing for Liberia climate resilience Additional $26M disbursed under ECF, total...
Axian Telecom partners with Oracle to unify management systems Platform to enable AI rollout, improve governance and...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...