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Kampala, Uganda | THE INDEPENDENT | Quality Chemical Industries Limited (Qcil) is set to construct a second factory after it secured financing from Stanbic Bank.
Qcil, Uganda’s leading manufacture of essential drugs like HIV antiretroviral pills and antimalarials, secured the $36 million (sh133 Billion ) debt facility from Stanbic Bank Uganda to construct a second manufacturing plant.
On top of increasing production capacity for Qcil’s existing portfolio, the loan facility will also enable the company to expand into new therapeutic areas, including the production of injectable medications.
Qcil, founded in 2005 and headquartered in Luzira, Kampala, Uganda, is the largest producer of World Health Organization (WHO) prequalified HIV/AIDS and malaria treatments in the region.
It also has an extensive footprint, with its products registered in 31 African countries, with some of them relying on it for most of the anti-malarial oral and HIV treatment drugs.
In expanding its production capacity, Qcil will be strengthened as a leader in African pharmaceutical manufacturing, supporting greater access to affordable medication and building a more self-reliant healthcare ecosystem for the region.
The financing, arranged by Stanbic Bank’s Corporate and Investment Banking (CIB) division, comprises a $36 million term loan for the construction of a second WHO-compliant pharmaceutical manufacturing plant on Qcil’s existing Luzira site.
“We are pleased to have delivered a bespoke sustainable finance solution that supports QCIL’s long-term vision in driving positive healthcare impact and contributing to the region’s capacity to produce essential medicine at scale.”
Paul Muganwa, ED- Stanbic Bank pic.twitter.com/42LIvVEEgS— Stanbic Bank Uganda (@stanbicug) May 21, 2025
“This investment enables Qcil to scale its annual manufacturing capacity from 1.4 billion to 2.4 billion tablets, while introducing specialized production lines for tuberculosis (TB) treatments, injectables, and other innovative products,” said Emmanuel Katongole, Chairman and Co-Founder of Qcil.
According to him, the company is strengthening capacity to serve the wider African market, on to of Uganda, with high-quality, affordable medicines.
“Our commitment remains focused on providing sustainable healthcare solutions,” he said and added, “With Stanbic’s support, we are positioning ourselves to meet increasing regional demand and reduce dependency on imported medicine.”
Ajay Kumar Pal, the chief executive officer of Qcil, said the new factory represented a significant investment in their mission to expand access to critical medicines by manufacturing in Africa for Africa.
“It will enable us to introduce specialized production for TB treatment, making Qcil the only TB medicine manufacturer in the region,” said Ajay.
He also appreciated Stanbic’s support as an intervention in bridging a critical gap in the region’s pharmaceutical supply.
Currently, regional production capacity only covers 10 percent of the demand for antiretroviral drugs for the region’s 5 million people living with HIV, and only 19 percent of the demand for malaria treatments, yet 54 million cases are reported annually.
The region also records over 600,000 TB cases each year, yet has no local production capacity for TB medicines.
“Qcil is a vital link in Uganda’s healthcare value chain,” said Paul Muganwa, Executive Director and Head of CIB at Stanbic Bank Uganda.
“We are pleased to have delivered a sustainable finance solution that supports Qcil’s long-term vision in driving positive healthcare impact and contributing to the region’s capacity to produce essential medicine at scale.”
Mumba Kalifungwa, Chief Executive of Stanbic Bank Uganda, described the transaction as a bold and necessary milestone deal—ambitious in scale, catalytic in purpose.
“We are honored that Qcil entrusted us with such a strategic mandate,” he said, adding that such transactions demonstrate what it truly means to drive Uganda’s growth: “financing what matters, for the people who matter.”
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