Ethiopia: 54 Capital acquires stake in Addis Pharmaceutical Factory
Friday, 22 January 2016 15:23
Private-equity Company 54 Capital just announced it invested in the capital of the Ethiopian laboratory Addis Pharmaceutical Factory (APF).
54 Capital injected 30 million dollars to acquire a stake in this firm – leader of pharmaceutical industry –and took an option to invest another $US 12 million in its capital, the African-focused firm stated in a release it recently published.
This investment will serve to boost production and diversify the products portfolio of APF. “In Ethiopia, the pharmaceutical industry is one of the most dynamic and interesting as demand for drugs is expected to explode in the coming years,” said Saâd Aouad, founder of 54 Capital.
The industry should record an annual growth of 15% over the next three years reaching a total of one billion by 2018, government forecasts reveal.
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