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Tuesday, May 28, 2024

Zim’s pharmaceutical strategy in motion

Story by Stanley James, Business Editor

ZIMBABWE’S pharmaceutical manufacturing strategy (2021-2025) is in motion with the private sector and developing partners pledging more technical and financial support.

The five year strategy, which seeks to ease the huge import bill on pharmaceutical products by focusing on increased production by local firms to over 60 percent is attracting the interest of the private sector and development partners.

CAPS Holdings chief executive officer, Mr. Justice Majaka says the private sector value chains are committed to the government policy.

“Focus in what can be done to restore confidence in light of imports that have been dominant. This brings to the fore the issue of recapitalising factories, research and development and support to the government policy. As a local manufacturer there is that possibility to boost production,” he said

With the strategy document stating that over US$45 million is required to grow revenues and maximise production, development partners are also keen to help with relevant resources.

“Support towards industrialisation and the productive sectors is a key priority with the pharmaceutical sector being an identified sector that has the potential to bridge the gap between imports and exports,” said GIZ technical team leader, Ms. Faith Mangwanya.

The strategy has also received a major boost after Zimbabwe and Egpyt last month signed a Memorandum of Understanding towards cooperation in the pharmaceutical manufacturing and supply chains.

The five-year strategy being spearheaded by the Ministry of Health and Child Care is also anchored on attracting new investments, product development, easing imports, incentivising firms, compliance with global standards and state support.

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