Archive for category: Kenya

CRU Events (www.CRUgroup.com) and The African Fertilizer and Agribusiness Partnership (AFAP) are working with partners across Africa to offer brownfield projects seeking capital investment, the chance to make a showcase presentation to an audience of global investors and financiers.

This opportunity to raise finance, named the “Investment Showcase” will take place at the CRU Africa Fertilizer Agribusiness 2018 Conference. The conference, now in its 4th edition, will be held 24-26 September 2018 in Cape Town, South Africa. The event typically attracts more than 400 senior fertilizer executives and agribusiness stakeholders from across the global fertilizer and agribusiness supply chain.

Tom Willatt, Portfolio Director for Fertilizer Events at CRU said, “Through our unique partnership with AFAP, the conference provides unrivalled networking opportunities with senior decision-makers from the biggest fertilizer buyers and manufacturers in some of the world’s fastest growing fertilizer markets. The event has gone from strength to strength, and CRU and AFAP are both delighted to be able to build on the success of the event by creating the opportunity for brownfield projects in Africa to meet with and present to the investment community and increase their chance of securing funding”

Qualified and categorised projects will be selected that are seeking investment of over US$1m in brownfield projects and are focused on fertilizer, agri-inputs supply chain, agriculture, agro-processing and/or value addition sectors.

Projects will be selected on the strength of the proposal, with the intention to provide a diverse geographic range and representation from across the fertilizer and agribusiness supply chain. Investors that attend the showcase will be provided with a full package of information and will have the opportunity to meet and discuss with the project leaders seeking finance.

Submissions forms need to be completed and returned by 25 August 2018.

To request a copy of the submission form or to nominate a project, please email your name, project and a brief description of why you feel it is appropriate for a showcase position to Tom Willatt: Tom.Willatt@CRUGroup.com

The CRU Africa Fertilizer Agribusiness 2018 Conference is a comprehensive three-day event, centred on how partnership, investment and innovation can boost fertilizer trade and allow agribusiness to flourish in the African region. It promises to deliver a first-hand understanding of the challenges and opportunities, and offers unrivalled access to high-level, hard-to-reach decision-makers, to facilitate business opportunities for delegates.

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Kampala. The Board of Directors of Cipla Quality Chemical Industries Limited (CiplaQCIL), a leading pharmaceutical manufacturing company in Sub Saharan Africa, are pleased to announce the opening of the Initial Public Offer starting today, Tuesday 14 August through Friday 24 August 2018.

“Our long term vision at CiplaQCIL is to become a center of excellence in the manufacturing of quality, affordable and newer medicines that improve the quantity and quality of life.

Our WHO pre-qualified products are approved by regulatory authorities in 19 countries, including: Uganda, Kenya, Rwanda, Tanzania, Namibia, Ivory Coast, Zambia, Zimbabwe, Malawi, Namibia, Mozambique, Ghana, Ethiopia, Angola and South Sudan among others. CiplaQCIL is the only pharmaceutical manufacturer in Sub Saharan Africa supplying Malaria medicines to the Global Fund.” Nevin Bradford, the CEO of CiplaQCIL said,

“Today marks a great milestone at Cipla Quality Chemicals Industries Limited as we launch our Initial Public Offer and encourage and enable Ugandan investors to share in our success story after being under private ownership for over 13 years” The Executive Chairman of CiplaQCIL Emmanuel Katongole said,

Since our humble beginning 13 years ago, we have made a significant contribution to the effort to save lives by arresting the scourge of dreaded diseases, such as malaria, HIV/AIDS and hepatitis B. Importantly, as these diseases are particularly burdensome in Africa, we do this entirely from our state-of-the-art Kampala manufacturing plant, with zero tolerance for any compromise in quality.

In the last financial year alone, CiplaQCIL supplied HIV/AIDS medicines to approximately 500,000 HIV-infected people and Malaria drugs capable of treating approximately 45 million malaria infections. This in turn had a significant impact on the domestic economy in Uganda in terms of employment, investment, trade balance improvement, foreign exchange savings among others.

Joseph Kibuuka of Crested Capital, the Lead Sponsoring Stockbroker for the IPO said, “Interested investors may contact the Authorized Selling Agents and Members of the Uganda Securities Exchange or to visit any branch of Standard Chartered Bank to participate in the CiplaQCIL IPO. Investors are encouraged to obtain a copy of the prospectus which provides further details about the Company and the IPO. We thank the timely efforts of the regulators in granting approvals and for providing a positive signal that Uganda’s capital markets are attractive to local, regional, and international investors.”

Transaction Advisors, Renaissance Capital is the Lead Transaction Advisor (LTA) and Crested Capital is the Lead Sponsoring Stock Broker (LSSB) to the Transaction.

Major International Certifications attained by CiplaQCIL

• World Health Organization (WHO) Good Manufacturing Practices for plant and products
• International Committee of Red Cross (ICRC)
• Drugs for Neglected Diseases Initiative (DNDI)
• Kenya Pharmacy and Poisons Board GMP
• Tanzania Food and Drugs Administration (TFDA)
• Uganda National Drug Authority (NDA)
• Zambia Medicines Regulatory Authority (ZAMRA)
• Namibia Medicines Regulatory Council (NMRC)
• Ethiopia Food, Medicine and Healthcare Administration and Control Authority (FMHACA)
• Ivory Coast Direction de la Pharmacie et du Medicament (DPM)
• South Sudan General Medical Council (SSGMC)
• Rwanda Biomedical Centre (RBC)
• Angola National Directorate of Medicines and Equipment(DNME)

Awards received by CiplaQCIL

• Africa award for entrepreneurship (Transformational Business of the year: 2012 winner)
• Landmark Africa Private Equity Deal of the Decade (Private Equity Africa: 2012 Winner)
• Outstanding Achievement in development of the Pharmaceutical sector (Ministry of Health: 2012 winner)
• Investor of the Year (Uganda Investment Authority: 2007 Winner)

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BY SAMUEL NABWIISO

Govt sets aside 100bn for the purchase of maize by private sector: Government has set aside Ugx 100bn shillings for grain dealers to buy maize from farmers at not less than 500/= per Kilogram.

Addressing the media at the Uganda Media Center , the Minister for Finance planning and Economic Development, Matia Kasaijja said government will not directly buy the maize from farmers as it was reported by the Minister for Trade and Cooperative Amelia Kyambadde but it will support the private sector to buy the grain.

“Given the low price on maize, the government of Uganda together with the Bank of Uganda, the Grain Council of Uganda and Commercial Banks has therefore initiated measures to mop up excess maize grain using the Agriculture Credit Facility. This intervention will enable farmers across the country to sell their maize stocks at not less than Ugx 500 per kilogram” He explained.

Under the government initiative, government will avail shillings 100 Billion for grain finance through the banking system at a maximum rate of 15% per annum to enable the purchase of grain by any individual Uganda trade , members of the grain Council of Uganda and Cooperative Unions across the country.

Under the system, Commercial Banks will disburse up to Uganda shillings 5 billion within 7 working days after receipt of eligible loan applications for loans.

Who is legible for the loan? According to the Minister the funds will be accessible to all interested traders in maize business who have the requisite storage facilities , cleaning and drying facilities in order to allow the grain to be stored for at least 6 months when the prices are expected to recover.

Government’s decision to intervene comes at a time when farmers across the country are decrying the very low prices for their maize, which have, on average, fallen to sh200 per kilo. The fall in prices is usually attributed to bumper harvests across the country.

Source: East Africa Business Week (EABW)

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