Harare — LONDON Stock Exchange-listed investment firm, LonZim is investing US$2,34 million in a new company, which will import, wholesale and distribute pharmaceutical products in Zimbabwe.
According to the LonZim website, the company would supply public and private hospitals and retail pharmacies with the essential drugs and equipment to allow the level of healthcare service in the country to improve.
Products would range from pre-filled immunisation syringes through to complex theatre packs; radiology equipment; specialist pharmaceuticals and chronic medication.
It would also negotiate distribution agreements for several international pharmaceutical brands.
The company is being launched via a new investment company, Quickvest Ltd, which is a joint venture between LonZim and the De Robillard Family Trust.
Quickvest Ltd would own 90 percent of the new pharmaceutical distribution company, with the remaining 10 percent being owned by Dr Richard Botha, who would lead the management team responsible for the development of the company.
Dr Botha is a pharmacist with many years experience in building and managing pharmaceutical businesses.
He qualified as a pharmacist from the University of Potchefstroom in 1987, and, obtained an MBA from UCLA Berkeley in 1999.
He has worked as Group Manager for Pharmarama in South Africa and as operations director at Protector Group Holdings where he engineered the turnaround of the 158 pharmacies in the Clicks chain.
LonZim, which would have board control of Quickvest, would own 51 percent of the investment company, with the remaining 49 percent being owned by the De Robillard Family Trust.
LonZim Executive Chairman, David Lenigas said "LonZim invests in commercial opportunities that support the economic recovery of Zimbabwe.
"Positive signs are appearing that this recovery has begun, with international financial packages in place from Southern African Development Community and this week the World Bank agreeing to give Zimbabwe its first assistance since 2000.
"Zimbabwe needs a quality pharmaceutical distribution network that can import, distribute and deliver medical supplies throughout the country using a modern, high quality distribution system, refrigerated where necessary.
"It is imperative that products are distributed in
the best possible condition to ensure their effectiveness and meet the requirements of international manufacturers."
The lack of a reliable supply of medical equipment and pharmaceutical products crucially needed to support health care services is one of the challenges faced by the Zimbabwean health care system today.
This is after the country health system, that has historically been very robust, with one of the highest percentages of the population being immunised in Africa, was devastated by the recent hyperinflationary economy.
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