Promed Expands Generic Pharmaceutical Production in Katanga (Sub-Saharan Africa)
Sub-Saharan Africa-focused private equity fund manager XSML has invested in Promed, a generic drug manufacturer based in the Democratic Republic of the Congo (DRC). The investment was made from XSML’s Central Africa SME Fund, which targets investments in the DRC and the Central African Republic. Promed manufactures approximately 80 generic drugs and will use the investment to build a new production facility for serums. Financial terms of the transaction were not disclosed.