EXIM Bank delegation visits pharmaceutical companies

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Ernest Chemist’s EU GMP standard factory

A high-powered delegation from the Ghana EXIM Bank, one of the major funding banks of the government’s flagship programme, One-district, One-factory (1D1F), has paid a working visit to three pharmaceutical companies in the Greater Accra Region who have received funding from the bank to invest into their operations.

The team, led by the Chief Executive Officer (CEO) of the bank, Lawrence Agyinsam, and Chairman of its Board of Directors, Kwadwo Boateng Genfi, visited Atlantic Life Scientist located at Prampram and Ernest Chemist and Tobinco Group of Companies all at Batsona Spintex.

The three pharmaceutical giants are part of nine companies who received a sum total of about US$60 million to inject into their operations and help the nations become self sufficient in the production of essential drugs and also target the export market.

The essence of the visit was to afford the management of the bank the opportunity to monitor and evaluate progress of work of the home-grown companies it is financially supporting, in line with its core mandate.

During the visit, management of the three indigenous companies took the team round their establishments, particularly the areas where they are establishing their manufacturing factories, specified the state of the various projects and when they are expected to finish.

Atlantic Life Scientist

CEO of Atlantic Life Scientist, Dhanajay Triathi said that, the factory is about 80 percent complete and would have a staff strength of about 300 when its fully operational. The factory which sits on a 25-acre land will be producing infusion, eyedrops, vaccines and some other essential pharmaceutical products.

“We are about 80 percent complete. Some of our machines are in; they are of Indian and German origins. We are waiting for some engineers from Germany to come and fix the machines. These machines are very expensive and delegate, you need the manufacturers to come and fix it for you,” Mr. Triathi told the media.

Ernest Chemist

A team from Ernest Chemist led by its Founder and CEO, Ernest Bediako Sampong took the team from Ghana EXIM Bank through its European Union Good Manufacturing Practice (EU GMP) standard factory. The pharmaceutical plant which is estimated to cost about US$50 million has close to 11,000 square meters of land size with a 20,000 square meter fully automated warehouse.

The plant was expected to be completed by end of year but disruption in the global supply chain due to COVID-19 might disorder its deadlines.

“This plant will compete globally. The Africa Continental Free Trade has also given us the opportunity to have a firm grip on Africa. This plant is for the future and the huge investment will pay off. Essential drugs will be produced here and shipped to the world,” Mr. Bediako Sampong told the media.

The company received some US$10 million from Ghana EXIM Bank and pleaded with management of the bank to expedite processes to give the company more funds to help in completing the factory.

Tobinco

The team from Tobinco Pharmaceutical Group of Companies was led by the CEO Samuel Amo Tobbin. The team took official from the Ghana EXIM Bank to their recently acquired warehouses as well asEntrance Pharmaceuticals and Research Centre, the manufacturing subsidiary of Tobinco Group.

Managing Director of Entrance Pharmaceutical Center, Kwadwo Asare Twerefour told the media that funding from Ghana EXIM Bank has afforded the company the opportunity to expand and acquire some warehouse for their operation. The company is also planning to go into the manufacturing of sterols and ensure that the country will be self-sufficient.  

The management of Ghana EXIM Bank was impressed with the level of work going on at these companies and the efforts being put in by managers to ensure that the country’s industrialisation agenda and self-sufficiency in the production of pharmaceuticals is realized soonest.

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