recreate the success it achieved in Bangladesh, where 92 percent of medications consumed are domestic made, in order to reduce Kenya’s dependency on imports, which total Kshs. 65 billion yearly. Chowdhury also stated that around 42% of fake medications manufactured between 2013 and 2017 originated in Africa, which was due to weak borders and a shortage of medicines.
While addressing the media, Chowdhury shared how the company became successful in Bangladesh. He said, “Bangladesh being a very successful country in terms of producing medical products since 2002, you will be surprised to know that 92% of the total consumption of medicine are produced locally and Square being the largest company here, we thought it is high time that if we set up a pharmaceutical company in Kenya we will be addressing this issue and this will be a game-changer in Kenya as well as Africa”.
Square claims that it will manufacture only high-quality, market-competitive pharmaceuticals, including anti-malarial, anti-diabetic, cardiovascular, and painkiller medications. Concerning the COVID-19 vaccine, the company states that it is already marketing remdesivir, a drug used to treat the condition, in other countries while it awaits the launch of a vaccine produced in Kenya. The huge factory, which is being built in the Athi River EPZ, also aims to provide direct employment to minimum 700 Kenyans and will collaborate with authorities to decrease the importation of counterfeit and substandard medications.
