Alta Semper Capital, a London-based private equity firm that invests in a number of African growing markets, announced yesterday March 27 that it granted $18 million to Health Plus Ltd, a Nigerian-based retail pharmacy chain.

Bukky George, founder and CEO of Health Plus, said that the London firm was the right partner for its group’s stage of growth. “Alta Semper’s focus on the healthcare sector, as well as its ability to invest patient and flexible capital, will allow us to grow strategically across Nigeria and further our mission to provide high quality and affordable healthcare products and services to a market that is large and growing,” he commented.

Afsane Jetha, CEO of Alta Semper, for his part said: “We believe Health Plus is well-positioned to take advantage of the grossly under-penetrated Nigerian pharmacy retail market and meet the growing demands of Nigerian consumers, as well as to expand regionally into neighboring countries”.

Let’s recall that this capital injection for Health Plus is the second investment from the London company in African health sector; Egypt being the first with the investment in Macro Pharmaceuticals, in 2017.

Chamberline Moko