Investment Fund for Developing Countries backs East African pharmacy chain
Denmark’s IFU has invested about $9.6 million in MyDawa.
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Denmark’s Investment Fund for Developing Countries (IFU) has invested DKK 63.5 million (about $9.6 million) in MyDawa, an East African pharmacy chain and telehealth provider.
The investment by IFU will support MyDawa to open 30 new pharmacies in Uganda, of which around 15 will be located outside of Kampala.
Additionally, the investment will enable MyDawa to open 10 additional physical pharmacies in Kenya and expand its online pharmacy capacity.
“From the very beginning, MyDawa’s mission has been to deliver better health outcomes for all Africans by ensuring access to high-quality, affordable medication through diverse and innovative channels. This investment from IFU is a testament to the power of value-aligned partnerships that champion African solutions for African challenges. Together, we are charting a path to transform healthcare access, not just in Kenya and Uganda, but across the continent,” said Neil O’Lairy, founder and CEO of MyDawa.
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