{"id":108363,"date":"2023-12-07T19:34:31","date_gmt":"2023-12-07T19:34:31","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys"},"modified":"2023-12-07T20:05:37","modified_gmt":"2023-12-07T20:05:37","slug":"proparco-buys-into-kenyan-drug-distributor-harleys","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys","title":{"rendered":"Proparco buys into Kenyan drug distributor Harley\u2019s"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>French development finance institution, Proparco has partnered with Mauritian conglomerate, IBL Group to acquire Harley\u2019s, a leading distributor of pharmaceutical products and medical equipment in East Africa.<\/p>\n

The deal valued at \u20ac13 million (Sh5 billion) gives the two a majority shareholding in Harley’s<\/p>\n

The French fund aims to expand the supply of medicine and health products in Kenya, Uganda and Tanzania and possibly other neighbouring countries.<\/p>\n

The funds will also support Harley\u2019s growth plan, job creation and better access to pharmaceutical products in East Africa.<\/p>\n

This comes months after IBL bought an undisclosed stake in Harley\u2019s as part of a consortium that took control of the company.<\/p>\n

It marked the latest investment in Kenya for IBL which last year acquired a 26.32 per cent stake in supermarket chain, Naivas Limited for $100 million (Sh15.3 billion) also as part of a consortium.<\/p>\n

Proparco was also part of the consortium that acquired a combined 40 per cent stake in Naivas for $151.9 million (Sh23.3 billion).<\/p>\n

Proparco head of equity for Africa and the Middle East Damien Braud said Harley\u2019s is a historical player in the pharmaceutical sector, making a big impact on the lives of Kenyans, Tanzanians and Ugandans.<\/p>\n

\u201cProparco is very proud to support Harley\u2019s and more generally the pharmaceutical and healthcare sector in East Africa, which we believe are key components of development in the region,\u201d Braud said.<\/p>\n

Harley\u2019s supplies pharmaceutical products and medical equipment, which include drugs, hospital beds, intravenous poles, bedside cabinets, examination and delivery beds as well as stainless steel buckets.<\/p>\n

The company\u2019s suppliers include Bayer, GlaxoSmithKline and Mercl and Roche with operations in Nairobi, Mombasa, Eldoret, Dar es Salaam and Kampala.<\/p>\n

Harley\u2019s started operations in 1953 as a retail chemist and was acquired by its current management in 1975.<\/p>\n

The company is a family business that has grown and expanded over 70 years.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. French development finance institution, Proparco has partnered with Mauritian conglomerate, IBL Group to acquire Harley\u2019s, a leading distributor of pharmaceutical products and medical equipment in East Africa. The deal valued at \u20ac13 million (Sh5 billion) gives the two a majority shareholding in Harley’s The French fund aims to expand the supply of […]<\/p>\n","protected":false},"author":84,"featured_media":108362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-108363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nProparco buys into Kenyan drug distributor Harley\u2019s - kenya<\/title>\n<meta name=\"description\" content=\"French development finance institution, Proparco has partnered with Mauritian conglomerate, IBL Group to acquire Harley\u2019 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Proparco buys into Kenyan drug distributor Harley\u2019s\" \/>\n<meta property=\"og:description\" content=\"French development finance institution, Proparco has partnered with Mauritian conglomerate, IBL Group to acquire Harley\u2019 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-07T19:34:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-07T20:05:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/12\/sm_1701966725.085581.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"661\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Proparco buys into Kenyan drug distributor Harley\u2019s\",\"datePublished\":\"2023-12-07T19:34:31+00:00\",\"dateModified\":\"2023-12-07T20:05:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys\"},\"wordCount\":328,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/12\/sm_1701966725.085581.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/proparco-buys-into-kenyan-drug-distributor-harleys\",\"name\":\"Proparco buys into Kenyan drug distributor Harley\u2019s - 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