GlaxoSmithKline to invest in five new factories for Africa
The UK’s biggest drugs manufacturer, GlaxoSmithKline Plc, is set to announce today a multi-million pound plan to increase its presence in Sub-Saharan Africa.
The decision shows confidence in the growth of the continent as the global drugs company moves to take advantage of the opportunities in Africa.
Andrew Witty, Chief Executive Officer of GlaxoSmithKline, was reported saying in the Sunday Telegraph newspaper that the continent was important for the British company’s long-term growth.
He said: “The transformation of Africa into a successful growth region is one area that we need to focus on.”
The company is poised to build up to five new factories creating hundreds of new jobs and is actively seeking sites in Ghana, Ethiopia and Rwanda.
It already has production facilities in South Africa, Nigeria and Kenya which accounts for around £500 million of the group’s annual sales, which totalled £26.5 billion in 2013.
GSK’s African plan is set to be unveiled at the EU-Africa Business Summit in Brussels.