Afreximbank Partners with Med Aditus to Establish State-of-the-Art Pharmaceutical Manufacturing Plant in Kisumu, Kenya
African Export-Import Bank (Afreximbank) and Kenya-based Med Aditus Pharmaceutical Kenya Limited (Med Aditus) have signed a project preparation facility heads of terms agreement at the fourth edition of the African Sub-Sovereign Governments Network (AfSNET) Conference in Kisumu City, Kenya. The agreement will see Afreximbank providing financial support for the development of Med Aditus’ pharmaceutical manufacturing plant.
The pharmaceutical plant, estimated to cost US$40 million, will be located on 10 acres of land in Kibos, Kisumu County, Kenya. It will have an annual production capacity of two billion tablets/capsules and will focus on producing essential medicines for non-communicable diseases such as cardiovascular cases, diabetes, cancer, infectious diseases like HIV, malaria, tuberculosis, and neglected tropical diseases.
The plant will be a state-of-the-art facility compliant with Current Good Manufacturing Practice (cGMP) standards. It will utilize continuous manufacturing technology integrated with a blockchain-powered quality management system, making it the first of its kind in Africa. The establishment of this plant is expected to improve access to affordable and quality medicines in Kenya and neighboring countries, reducing the prevalence of counterfeit and low-quality drugs.
Afreximbank’s support for this project is part of its ‘Africa Health Security Investment Plan,’ aimed at boosting the continent’s health product manufacturing capabilities. This initiative aligns with efforts to promote economic development, enhance health security, and strengthen local production of essential medicines.
The signing of the agreement was witnessed by His Excellency Professor Peter Anyang’ Nyong’o, Governor of the County of Kisumu, and Mrs. Kanayo Awani, Executive Vice President Intra African Trade and Export Development. The partnership between Afreximbank and Med Aditus signifies a collaborative effort to combat deadly diseases, scale up healthcare financing, and deliver innovative solutions in the pharmaceutical sector.
Mrs. Awani expressed her enthusiasm for the project, highlighting the strategic location of the plant in Kisumu, which provides access to markets in Kenya, Uganda, Tanzania, DR Congo, Rwanda, Burundi, and South Sudan. She emphasized the importance of partnerships with local and international stakeholders to drive investment and support innovative technologies in healthcare.
Dr. Dhiren Thakker, CEO of Med Aditus, emphasized the company’s commitment to promoting local pharmaceutical manufacturing and enhancing healthcare outcomes in the region. He highlighted the use of continuous modular manufacturing technology and blockchain integration as innovative approaches to producing high-quality, affordable medicines for the local population and the global community.
Med Aditus Pharmaceuticals Kenya Limited, established as a special purpose vehicle, will oversee the design, development, financing, operation, and maintenance of the pharmaceutical plant in Kisumu. The project will be financed through a combination of debt and equity, with Afreximbank playing a crucial role in providing the necessary support.
The partnership between Afreximbank and Med Aditus underscores the importance of collaboration in driving innovation and sustainable development in the healthcare sector. By leveraging cutting-edge technologies and strategic partnerships, the establishment of the pharmaceutical plant in Kisumu is poised to make a significant impact on local production and access to essential medicines in the region.
The AfSNET Conference, where the agreement was signed, focused on leveraging the African Continental Free Trade Agreement (AfCFTA) for sustainable trade and investment. The conference aimed to strengthen the role of Sub-Sovereign governments in driving intra-African trade and investment, with a particular emphasis on promoting economic development and regional integration.
In conclusion, the partnership between Afreximbank and Med Aditus represents a significant step towards enhancing healthcare infrastructure, promoting local production of essential medicines, and driving economic development in the region. The establishment of the pharmaceutical plant in Kisumu underscores the transformative potential of innovative technologies and strategic partnerships in addressing critical health challenges and advancing healthcare outcomes in Africa.
