This archive report was first published on 7 November 2021.
On November 7, 2021, the Kenyan government announced a significant investment in the country's pharmaceutical sector. Square Pharmaceuticals Kenya EPZ Ltd, a subsidiary of Bangladesh-based Square Pharmaceuticals Ltd, is set to open a manufacturing plant in Kenya's Export Processing Zone (EPZ).
The plant, which is the first phase of a $75 million investment by the Bangladeshi company, is aligned to the World Health Organisation's global cost-reduction strategy. This strategy aims to promote technology transfer between developed and developing countries, ultimately bringing down the price of drugs and increasing public access to quality and affordable medicines in the region.
The plant, which sits on 6.03 hectares of land, has a production capacity of over two billion capsules and tablets annually. Speaking during a familiarisation tour at the plant, Industrialisation, Trade and Enterprise Development CS Betty Maina said the government was keen on supporting the establishment and growth of the Pharma manufacturing sector.
“We believe that local pharmaceutical production has a potential to reduce the cost of drugs by 40 per cent,” said Square Pharmaceuticals Ltd Managing Director Tapan Chowdhury. The plant is expected to export 50 per cent of its products to African markets.
