With the support of the Rwanda Development Board (RDB), Cooper Pharma, a leading African pharmaceutical, has today launched the construction works of a $USD 6 million pharmaceutical plant at the Kigali Special Economic Zone.
RDB helped the Morocco-based firm to understand the internal market structure together with regional one which will impact the firm business and people in the region. The Board helped as well to secure two hectares at the Kigali Special Economic Zone as a site for their factory and facilitation in fastpacking the process of initial work of establishing the plant. The factory, expected to be completed in 2019, will produce beta-lactam antibiotics in the short term and then expand to non-beta lactam antibiotics depending on local and regional market demand.
In her remarks, the Chief Executive Officer at Rwanda Development Board, Clare Akamanzi, said:
“This groundbreaking event is in perfect coherence with the Government of Rwanda’s policies, which aim to encourage local production and the promotion of foreign direct investments.
In the 2015/2016 Financial Year, we spent Frw 74.2 billion to import drugs. We believe that the Cooper Pharma plant will help reduce the amount of foreign exchange we use to import drugs while at the same time creating more job opportunities for the youth in the country. In just Phase 1, about 40 well-paying jobs for local pharmaceutical professionals will be created. Employment opportunities will increase further down the line.
In addition, we strongly believe this new development will reinforce the country’s position as a medical export hub in the region.
The private sector is important to Rwanda’s economic development and in enhancing productivity. In view of this the Government of Rwanda continues to place significant importance in engaging with investors to attract innovation, development and long-term growth in the country”, she concluded.
In his address, the Chief Executive Officer of Cooper Pharma Mr. Ayman Cheikh Lahlou, said:
“We are pleased to be part of this landmark initiative in which the Rwandan government played a big role. Rwanda is the second best place to do business in Africa and has a very conducive business environment, most importantly it provides a strategic position in the regional market”
The ground-breaking ceremony follows the visit of His Majesty King Mohammed VI and his delegation to Rwanda in October 2016, where total of 23 bilateral agreements were signed with the Government of Rwanda.
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