A planned Sh5.2 billion ($40 million) pharmaceutical manufacturing plant in Kisumu County is among the flagship projects seeking investment at a major African investment conference scheduled to take place in Calabar, Nigeria, next month.
The proposed factory is expected to strengthen Kenya’s pharmaceutical manufacturing capacity, reduce reliance on imported medicines and improve access to essential drugs by increasing local production.
The project’s inclusion in the investment forum provides an opportunity to attract investors and development financing for Kenya’s healthcare and manufacturing sectors, as African countries seek to expand domestic industries and reduce dependence on overseas suppliers.
If implemented, the facility could also create employment opportunities and support the growth of pharmaceutical supply chains, including the distribution of medicines to hospitals, pharmacies and other healthcare providers.
The project comes amid growing efforts across Africa to boost local production of essential medicines, improve health security and reduce the vulnerability of healthcare systems to disruptions in international supply chains.
However, the factory’s construction timeline, production capacity, ownership structure and targeted investment commitments were not immediately available.
The investment conference is expected to bring together investors, government representatives and project developers to explore financing opportunities for major projects across the continent.
