Tamela Capital Partners has announced it will be investing in Kiara Health to buy out the remaining 49% of shares in Pharamafrique from Imperial Logistics, effectively adding to the value of the company as a fully fledged black-owned
company.
Kiara is a black-owned Pan-African company focused on diversified local manufacturing companies providing pharmaceuticals, medical technology, complimentary, over the counter and biologics to the private and public sector.
The funding from Tamela Capital Partners will help Kiara Health become a wholly black-owned and managed pharmaceutical manufacturing and healthcare solutions.
The investment will demonstrate Tamela’s commitment to providing accessible and affordable healthcare on the continent through Kiara.
A partner at Tamela Capital Partners, Thato Tsita, said: “Tamela is proud to partner with Kiara Health in providing access to quality healthcare not only for South Africa but for the African continent.
“We see this investment as a catalyst to closing the gap that exists in the manufacturing of affordable health products whilst creating jobs locally and stimulating the country’s economic growth.
“We stand ready to be part of Kiara Health’s growth trajectory and look forward to a long and fruitful partnership with Kiara’s expert management team.”
CEO and president of Kiara Health Dr Skhumbuzo Ngozwana said: “We are excited to have secured Tamela’s funding. Local manufacturing is one of Kiara’s four strategic pillars, and the funding will help us build on our capability and capacities, bolster our core offerings, enabling us to expand our product portfolio, finance our growth and expand our geographic footprint.
“This partnership with Tamela will add to the value of our business as a 100% fully black-owned and managed pharmaceutical company providing affordable health products on the African continent.”
Tamela Capital Partners is one of a few credit-oriented alternative asset managers in sub-Saharan Africa, with a focus on delivering attractive risk-adjusted returnsand capital preservation for investors.
The fund management company provides funding of between R50-million and R200-million to corporates in South Africa, Namibia, Botswana, and Lesotho seeking capital for growth, refinancing, and expansion.
“Tamela’s focus on capital protection and ability to create partnerships with management teams enables us to provide appropriate funding solutions to clients,” said Tsita.
The company provides contract manufacturing and packaging services to highly pedigreed multinational pharma companies such as Sandoz, Cipla and Servier.
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