Eos Capital partners with Fabupharm

Eos Capital has acquired 35% of the ordinary share capital of Fabupharm (Pty) Ltd, pending Namibian Competition Commission (NaCC) approval. This shareholding deal will enable Fabupharm to become a major player in the Namibian and regional pharmaceutical markets.
“Business Monitor International estimates the Namibian pharmaceutical market to be in the region of N$3 billion in 2016 – our aim is to localise­ more of this market to the benefit of Namibians by expanding on local manufacturing capacity and expertise currently residing in local player Fabupharm,” says Johannes! Gawaxab, Eos Executive Chairman.
Fabupharm is the only pharmaceutical manufacturing plant in Namibia to date. Established in 1989 in Otjiwarongo the company employs more than 70 Namibians from the Otjozondjupa region. It conforms to stringent World Health Organisation (WHO) standards that are required to manufacture pharmaceutical products.
Fabupharm manufactures paracetamol, antibiotics, vitamin supplements, body lotions and sunscreen, to name a few products of an ever-expanding locally manufactured range of products. These products are for sale to the public at local retailers and pharmacies. Many are also stocked by central medical stores that supply Government’s hospitals and clinics with medical and pharmaceutical products. Fabupharm is in the process of obtaining export approval­ for several of its products which are to be shipped to Botswana, Mozambique­ and Lesotho, among other destinations.
Majority shareholder and local retail distribution titan, Carl Brinkmann, says he “is excited about the growth prospects of the business and the potential to uplift the profile of the Namibian manufacturing sector, which has been dominated by international players for so long”.
“We are pleased to welcome Eos Capital as partners and sharehold­ers of the company. We at Fabupharm are looking forward to unlock­ing new growth potential with the addition of Eos Capital’s expertise­ in the extension­ of the business in the local, public and export markets,” says Fanie Badenhorst, Fabupharm founder and Managing Director.
Nicole Maske, Eos Chief Executive Officer, added: “Eos will provide the growth capital and strategic support to Fabupharm that will allow it to execute an aggressive growth strategy.”
“We are excited about partnering with Fabupharm as we believe pharmaceuticals is a defensive industry and Fabupharm itself offers lots of potential for growth and has a diversified customer base,” concluded Ekkehard Friedrich, Eos Capital Chief Investment Officer.