Pharmaceutical Company, Africure Secures N6.2 Billion Funding For Pan-African Expansion

Pharmaceutical Company, Africure Secures N6.2 Billion Funding For Pan-African Expansion

  • A pharma products making and distribution company, Africure has gotten over N6 billion in seed funding to expand across Africa
  • The funding was led by BluePeak Private Capital's $200 million and aims at impacting the company's efforts
  • Africure was founded in 2017 and has over 300 portfolio products which cuts across various ailments

Pharmaceutical products makers and distributors, Africure has secured N6.2 billion in seed funding to grow its African market.

The firm secured the funds from BluePeak Private Capital’s $200 million targeted impact fund.

Africure, BluePeak, Africa
Africure secure N6.2bn to expand across Africa
Source: UGC

The new funding is meant to provide an important growth to the company and support its plan to strengthen its operational capital and boost demands for its pharmaceutical goods across 10 markets in Africa, reports by Nairametrics indicate.

The need to actualise a pan-African dream expansion

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The seed capital is also intended to be used to help Africure actualise its growth goals to develop a wide range of innovative chronic disease profiles like cardiac and diabetic conditions.

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The Principal at BluePeak Private Capital, Fulton Shiundu, stated that it is choosing the company due to its trustworthiness and brand acceptance across Africa.

Africure, a reliable manufacturing and distribution partner, says BluePeak

Shiundu stressed that Africure is a reliable manufacturing and distribution partner that has developed one of the most far-reaching pharma businesses across the African continent, saying his company is happy to support the firm’s growth journey, boosting its health systems as it plays an important role in the continent’s recovery from the COVID-19 pandemic.

Africure was established in 2017 and boasts of close to 300 portfolio products that span many therapeutic areas like anti-infectives, analgesics, antiparasitic and respiratory treatments and generic drugs, among others.

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BluePeak Capital Fund is an impact-centric private fund that got its first close at $116.6 million in September of 2o21. It is backed by African development finance institutions like CDC group, EIB, DFC, FMO and Caisse de Depots.

Moove secures N43.5 billion funding to scale across Africa, Middle East, Asia and Europe

It should be recalled that has reported that Nigeria-based Africa mobility fintech firm, Moove has secured over N43 billion in new funding to give vehicle financing to drivers of ride-hail companies like Uber and gig networks in seven new frontiers across the Middle East, Africa, Asia and Europe in the next six months.

This comes after the startup got N4.15 billion in February and another N9.5 billion in August 2021 last year.

The company stated that the funds will give its freelancers in other vehicle categories like tricycles and buses the needed leverage to accelerate the businesses.


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