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Proparco and SPE AIF I acquire Saham Pharma, the leading antibiotics manufacturer and main hospital provider in Morocco

Project

Healthcare
medical factory and production indoor
©Fotolia
Signature date
Location
Morocco
Financing tool
Equity investment, Technical assistance
Financing amount (Euro)
12965780‬
Financing details
USD 12m equity investment in 2020, USD 2m in 2023 and EUR 100,000 of emergency technical assistance financing
Customer
Saham Pharma
Type of customer
Company
Country of headquarters
Morocco
Project number
PMA1125/PMA1125
Environmental and social ranking
B+
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

Through the acquisition of Saham Pharma, Proparco and the private equity fund SPE AIF I are supporting the company’s development strategy. This operation is an example of Proparco’s strong commitment to local production and access to high-quality essential drugs in Morocco and Africa.

Client presentation

Saham Pharma is a pharmaceutical production and distribution company based in Morocco. It is specialized in the production of antibiotics for the general public and the distribution of niche products for the hospital sector (plasma factors for treating hemophilia, chemotherapy supplements, painkillers). Saham Pharma is one of the main suppliers of antibiotics and specialty drugs in Morocco, with a significant impact on the health of the population of this country.

Project description

The operation involves the acquisition of Saham Pharma, alongside the private equity fund SPE AIF I, to support its management for the implementation of a development strategy in Morocco and Sub-Saharan Africa. Proparco’s USD 12m equity investment in this drug manufacturer, processor and distributor should strengthen the company and allow it to develop its export business, especially in West Africa.     

The emergency grant in 2020 has cofinanced the purchase of equipment, consumables and services to respond to the Covid-19 crisis in the health sector. 

In 2023, Proparco made an additional investment of USD 2m to support the company’s development plan.

Project impact

Through this project, we estimate that Saham Pharma will contribute to:

  • Improving access to antibiotic drugs and other “life-saving” pharmaceuticals (blood products, painkillers and cancer treatments) reimbursed by the social security system for some 750,000 new patients over the next five years, with a total of over 4.5 million people served annually within five years; 
  • Generating a sixfold increase in the company’s antibiotic exports to West Africa over the term of the financing;
  • Supporting over 170 direct jobs (including 63 held by women) and over 700 indirect jobs over the next five years.