CAPS Holdings to Expand Businesses

HARARE – PHARMACEUTICAL manufacturing company, CAPS Holdings, is planning acquire new entities or enter into joint ventures as it is optimistic of the current operating environment.\r\n

In a statement, the company’s executive chairman, Mr Mtandah, said the board was now optimistic following a political solution to the country’s challenges.

“The directors are optimistic that the business environment in Zimbabwe is set to stabilize in the view of the recent breakthrough in the formation of the inclusive government.

CAPS have the most comprehensive generic formulations in Zimbabwe and 16 other sub-Saharan countries. This will be the basis of the aggressive regional penetration which has already started outside South Africa, Botswana and Mozambique.

The board views current conditions as an opportunity and the group will be looking for acquisitions and or joint ventures requiring minimum cash outflows. Cash will be directed at increasing stock availability for the distribution and retail business,” said Mr Mtandah.

Apart from the manufacture of medicinal drugs, CAPS Holdings is also involved in retail through QV Pharmacies which is located both in Zimbabwe and Mozambique. CAPS Holdings also owns Geddes Limited and St Annes Hospital.