Tamela invests in Kiara Health

Tamela invests in Kiara Health

Tamela invests in Kiara Health 3200 2134 Tamela

Kiara becomes a fully black owned and managed Local Pharmaceutical Manufacturing company

Tamela Capital Partners (“Tamela” or “the Fund”) today, announced the funding of growth and replacement capital to Kiara Health (Proprietary) Limited (“Kiara”) to buy out the remaining 49% of shares in Pharamafrique (Proprietary) Limited from Imperial Logistics Proprietary Limited’s (“Imperial”). The funding will see Kiara become a wholly black owned and managed pharmaceutical manufacturing and healthcare solutions company headquartered in Johannesburg, South Africa. This investment demonstrates Tamela’s commitment to providing accessible and affordable healthcare on the continent.

Thato Tsita, Partner at Tamela Capital Partners said: “Tamela is proud to partner with Kiara Health in providing access to quality healthcare not only for South Africa but for the African continent. We see this investment as a catalyst to closing the gap that exists in the manufacturing of affordable health products whilst creating jobs locally and stimulating the country’s economic growth. We stand ready to be part of Kiara Health’s growth trajectory and look forward to a long and fruitful partnership with Kiara’s expert management team.”

Dr Skhumbuzo Ngozwana, CEO and President of Kiara Health said: “We are excited to have secured Tamela’s funding. Local manufacturing is one of Kiara’s four strategic pillars, and the funding will help us build on our capability and capacities, bolster our core offerings, enabling us to expand our, product portfolio, finance our growth and expand our geographic footprint. This partnership with Tamela will effectively add to the value of our business as a 100% fully black-owned and managed pharmaceutical company providing affordable health products on the African continent.”

The partnership that has been created with Kiara will drive transformation in the health sector and is aligned to Tamela’s focus on delivering projects that have a positive socio-economic impact.

About Tamela Capital Partners:

Tamela Capital Partners is one of the few credit-oriented alternative asset managers in Sub-Saharan Africa, with a focus on delivering attractive risk-adjusted returns and capital preservation for our investors. Tamela provides funding of between R50 million and R200 million to corporates in South Africa, Namibia, Botswana, and Lesotho seeking capital for growth, refinancing, and expansion. Tamela’s focus on capital protection and ability to create partnerships with management teams enables us to provide appropriate funding solutions to clients.

About Kiara Health:

Kiara is a black-owned Pan-African focused diversified local manufacturing company providing pharmaceuticals, medical technology, complimentary, over the counter (OTC) and Biologics to the private and public sector. The company prides itself in providing contract manufacturing and packaging services to highly pedigreed multinational pharma companies such as Sandoz, Cipla and Servier. Kiara manufactures products of the highest quality standards and adheres to stringent international quality systems.

Issued by Brunswick
Miyelani Shikwambana
Email : MShikwambana@brunswick.co.za
Contact details: +27 (82) 828 6649

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