Some pharmaceutical manufacturers in the country are lamenting over government’s delay to release cash to them after delivering critical drugs for state hospitals.
According to them the situation is affecting the supply of essential chemicals imported for the manufacturing of medicines in the country.
This was disclosed by the Managing Director of Intravenous Infusion PLC, Mr. David Klutse when the company met brokers on the Ghana Alternative Market(GAX) to raise 6.6 million cedis through private placement.
“It is a big challenge because cash is king, if you are in any organization and you don’t have cash you have a problem. We are trying to bear with the government because there is a national challenge for everybody, we are a trying to bear with the government because we know there is national challenge for everybody the government is trying to do its best but at the same time we are in strategic industry if we don’t have cash to run the business we can’t just close down, people are in the hospital, they are dying. We have to keep going,” he said.
Mr. Klutse pleaded with government to make prompt payment to pharmaceutical manufacturers since their services are crucial to saving live.
“We are pleading to the government; I know the Minister of Health has promised to work very hard on this I am pleading that they release the money to help the industry.
Raising funds on the GAX
On raising the funds through the Ghana Alternative Market, Mr. Klutse was optimistic the company would be able to get the 6.6 million cedis through private placement.
He explained that the company chose to use private placement since its IPO issued in 2015 was able to generate about 50 percent success.
The Company in 2015 listed on the Ghana Alternative Market to raise 12.4 million cedis but was able to get 6.4 million cedis.
By: Lawrence Segbefia/citibusinessnews.com/Ghana