Local manufacturing takes off: Cospharm expands product range and exports to region

HAVING started by solely relying on imports to provide medicine in Zimbabwe, Cospharm Pharmaceuticals, a Harare-based company, has grown into one of the country’s major manufacturers of pharmaceutical products, and currently offers a range of over 30 medicines.

Cospharm Pharmaceuticals founder and chief executive officer, Mr Cosmas Mukaratirwa, commended the Government for creating a conducive environment that promotes local investment.

Mr Mukaratirwa said he started his company in 2010 by importing medicine for distribution and at some point he saw a gap in establishing a manufacturing factory.

“We started by importing finished products from India, Europe and the United States of America, among other countries. However, at some point, we questioned ourselves if it was not possible to do it in-house. So with a clear vision, we managed to establish Cospharm Pharmaceuticals. We are doing tablets, capsules, liquid ointments, as well as suspensions. So we are trying to cover quite a range of products. We have a product range of over 30 products,” said Mr Mukaratirwa.

Cospharm Pharmaceuticals has further expanded its reach by launching new products and exporting medicines to neighbouring countries. Mr Mukaratirwa highlighted a recent successful product launch, though details about the specific product and partner were not disclosed.

Mr Mukaratirwa attributes this growth to supportive Government policies and tax breaks.

“It has been an interesting journey, although there have been challenges. But I have to commend the partnership with the Ministry of Industry and Commerce. The Ministry of Finance, Economic Development and Investment Promotion has been great.

“We have been able to import equipment duty free which has been of great support. They were guiding us even when we were buying the infrastructure which you will rarely find in other countries,” he said.

Mr Mukaratirwa doesn’t see this as the end, however, and has set his sights on expanding to the entire African continent. He also expressed his belief in Zimbabwe’s potential, stating that the country has a lot of investment opportunities waiting to be explored.

“Our experience has been very good, our products have been received in the market very well. We have been able to export to regional countries as well which is a testament to our journey. People may talk about challenges, but believe me when you have the right people and you do the right things, you will succeed,” he said. – @nqotshili