Pyramid Pacific (IFC-40237)

Countries
  • Tanzania
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
PYRAMID PHARMA LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 20, 2017

Disclosed by Bank Dec 6, 2017


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Project Description
Pyramid Healthcare (the “Company”, or “Group”, or “Pyramid”) is a leading medical consumables and equipment and pharmaceuticals distributor with operations across Sub-Saharan Africa. Pyramid represents internationally renowned manufacturers and provides its clients with full services from importation to in-country servicing with trained technicians. The Project aims to expand Pyramid’s operations to new markets in Sub-Saharan Africa as well as strengthen Pyramid’s existing operations in Tanzania, Kenya, Uganda, Ethiopia, Rwanda, Mozambique, Nigeria and Ghana to improve access to high quality medical consumables, equipment and pharmaceuticals alongside world-class servicing in these markets. The total project cost is estimated at US$15M. IFC is considering up to US$7.5M equity investment for IFC’s own account.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Contact Person: Abraham Okore Company Name: Pyramid Healthcare Address: 1st floor TTCL Customer Service Center Building, Dar es salaam, Tanzania Email: aokore@pyramidpharma.com Phone: + 255 22 2775688 Fax : +255 22 27775740 ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/