Tamela Capital Partners in South African pharma deal
Tamela Capital Partners announced the funding of growth and replacement capital to Kiara Health to buy out the remaining 49% of shares in Pharamafrique from Imperial Logistics. The funding will see Kiara become a wholly black-owned and managed pharmaceutical manufacturing and healthcare solutions company headquartered in Johannesburg, South Africa.
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.”
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.”