Jan 8, 2016

ACCEPT COOKIES We use cookies to create the best possible browsing experience for AltAssets website visitors. By closing this box you agree to the use of cookies according to our privacy & cookies policy . 54 Capital invests $42m in Ethiopia’s Addis Pharmaceutical Factory 8 Jan 2016 54 Capital, a private equity firm focused on investments in Africa, has backed Ethiopia’s drug manufacturer Addis  Pharmaceutical  Factory with $42m. The firm has made and initial investment of $30m with an option to provide further $12m in financing which Addis plans to use for improving production capacity and enhancing its product portfolio. With the local government putting a priority in its future development, Ethiopia’s pharmaceutical sector is expected to growth to $1bn by 2018 at the latest. Saad Aouad, founder and CIO of 54 Capital, said, ” The Ethiopia pharmaceutical sector is one of the most exciting industries in the country and is poised to witness a high level of demand in the coming years. “Through our investment into APF we will be both partnering with EFFORT, an investment group dedicated to transforming the Ethiopian business landscape, and investing into one of the leading companies in the country; marking our recognition of the importance of the sector in Ethiopia and our continued commitment to the country.” Founded in 2013 54 Capital is an Africa-focused asset management firm. In 2013, 54 Capital invested €5m into the largest private university in Morocco, UPM. Apart from the current deal it has so far invested around $35m into the FMCG sector in Ethiopia since 2014. In 2011, Aouad originated and took part in one of the largest private equity deals to date in Ethiopia – a $90m growth capital investment in the second-largest and only remaining independent brewery in the country. Copyright © 2016 AltAssets No related posts. AltAssets Mobile App To access the latest private equity news and stories download the new AltAssets mobile app from the