Original disclosure @ IFC website
Updated in EWS May 10, 2022
Disclosed by Bank Dec 8, 2020
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Established in 1995 in Uganda, AK Life Science Ltd (“AKL”, the “group” or the “company” - http://abacuspharma.com/), is a leading pharmaceutical and surgical equipment distributor in East Africa (Burundi, Kenya, Rwanda, Tanzania and Uganda). In 2018, Carlyle Group (“Carlyle” or the “sponsor”) acquired a majority stake in AKL. Carlyle, a multinational private equity firm is an IFC investee fund. The group is headquartered in Uganda where it also has a 4,000 m2 central warehouse in addition to another two smaller warehouses in Tanzania and Burundi. While the main business is distribution of generic drugs imported from China and India, in 2009, AKL constructed a manufacturing plant in Uganda to produce parenteral drugs (IV fluids, ear, eye and nose drops). Proposed IFC investment includes US$12.5m A-Loan to AKL to support its expansion plan: (i) to grow its distribution network within East Africa countries through leasing of new warehouses and (ii) diversify manufacturing capacity by adding a generic medicines production line in the company’s existing production site (the “project”).
Contact Person: Rajaram Sankaran - Group CEO
Company Name: Abacus Group of Companies
Address: Plot No.28B-32B-34B, Coronation Avenue, UMA Show Grounds, Lugogo, Kampala, Uganda
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