AfDB Grants €15M Loan to Boost Minapharm’s Biosimilar Expansion in Egypt and Africa

This initiative is part of a larger €78.9 million investment aimed at strengthening Egypt’s biological Active Pharmaceutical Ingredient (API) sector.

The African Development Bank (AfDB) has approved a €15 million senior corporate loan to Minapharm Pharmaceuticals S.A.E., one of Egypt’s leading biopharmaceutical companies. This landmark investment aims to significantly enhance the production and distribution of affordable biosimilar medicines across Africa and the Middle East, particularly for life-threatening conditions such as cancer and autoimmune diseases.

The 8-year loan, which includes a 3-year grace period, will be used to finance the completion of Minapharm’s second biotechnology manufacturing facility, named “XpandC.” Located in Cairo’s 10th of Ramadan Industrial Zone, the new facility is a cornerstone of the company’s ambitious expansion and renovation program. The loan will also help refurbish existing production lines, enabling Minapharm to scale up its operations and boost local pharmaceutical manufacturing capacity.

This initiative is part of a larger €78.9 million investment aimed at strengthening Egypt’s biological Active Pharmaceutical Ingredient (API) sector. By increasing local production of high-quality biosimilars, the project is expected to reduce reliance on expensive imported medications, increase foreign exchange savings, and contribute to Egypt’s long-term healthcare and economic resilience.

A Regional Strategy for Pharmaceutical Growth

“Minapharm’s expansion aligns with the Bank’s vision to industrialize Africa, improve quality of life, and foster regional integration,” said Ousmane Fall, Acting Director of the AfDB’s Industrial and Trade Development Department. “By supporting this project, we are strengthening Africa’s pharmaceutical sector, creating jobs, and improving access to life-saving treatments.”

The project is directly aligned with several strategic priorities of the AfDB, including its Ten-Year Strategy (2013–2022), the Private Sector Development Strategy, and the 2030 Vision for Africa’s Pharmaceutical Industry. It also supports Egypt’s 2022–2026 Country Strategy Paper, which prioritizes inclusive growth, industrialization, and improved healthcare access.

XpandC: A Milestone in African Biomanufacturing

Minapharm’s new XpandC facility will serve as a flagship hub for biosimilar innovation in Africa. Once fully operational, it will increase the company’s annual biosimilar production capacity from 3 million to 7.65 million doses by 2032. This will include the introduction of two critical biosimilars: Adessia (a version of Humira) for oncology treatment and Zevanzia (a biosimilar of Avastin) for autoimmune diseases.

Approximately 32% of the facility’s output will be earmarked for export, with target markets including Algeria, Morocco, Nigeria, and other African and Middle Eastern countries. This export-focused approach will help generate valuable foreign currency inflows for Egypt while expanding access to affordable medications throughout the region.

High-Impact Socioeconomic Outcomes

Beyond improving healthcare delivery, the project is expected to have significant social and economic benefits. It will create approximately 208 full-time equivalent jobs, with a focus on youth employment—90% of the positions will target individuals under 35—and gender inclusion, with 30% of roles set aside for women.

The initiative is projected to deliver €446 million in local value addition and support €137 million in domestic business linkages. Notably, 40% of these linkages will benefit small and medium-sized enterprises (SMEs), thereby strengthening the local pharmaceutical value chain and boosting economic development in surrounding communities.

A Vision for Self-Reliance in African Healthcare

Founded in 1956, Minapharm has long been a pioneer in Egypt and Africa’s pharmaceutical sector, particularly in biotechnology and biosimilars. With over 25 years of experience in biosimilar development, the company continues to lead innovation aimed at improving accessibility and affordability of advanced therapies.

“This investment underscores our commitment to innovation and affordability,” said Dr. Wafik Saad El Bardissi, Chair and CEO of Minapharm. “With AfDB’s support, we are scaling up to meet Africa’s growing demand for advanced therapies, ensuring better health outcomes for millions.”

The investment arrives at a critical moment for Africa’s healthcare sector. Currently, the continent imports over 90% of its pharmaceutical products. By enhancing local production capacities and reducing dependency on external supply chains, initiatives like Minapharm’s XpandC play a key role in building a more self-reliant and resilient healthcare system.

As the African Development Bank continues to prioritize private sector development and healthcare access, its partnership with Minapharm represents a strategic move to empower regional pharmaceutical manufacturing, foster innovation, and improve lives across the continent.