Prez Akufo-Addo to attend groundbreaking ceremony of MiKO Pharma's manufacturing plant
MiKO Pharma Gh. Ltd is set to break ground on a cutting-edge manufacturing plant in the Akosombo-Akwamu Traditional Area on October 1, 2024.
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President Nana Addo Dankwa Akufo-Addo is expected to attend the ceremony, officially marking the commencement of the project, which promises to boost healthcare access and contribute to the socio-economic development of the region.
The state-of-the-art facility, once completed, will be among the largest and most advanced pharmaceutical plants in West Africa. It is designed to produce essential medications for conditions such as high blood pressure, diabetes, heart disease, malaria, and pain management. MiKO Pharma’s investment is expected to significantly increase the availability of affordable, high-quality pharmaceuticals across the continent.
MiKO Pharma to fuel innovation and growth in pharmaceutical industry
In addition to healthcare benefits, the plant will stimulate the local economy, creating over 1,000 jobs, many of which will be filled by local residents. The project is also expected to boost local businesses and contribute to the economic vitality of the Akosombo-Akwamu area.
The Executive Partner at MiKO Pharma, Willard Jackson, emphasized the company’s commitment, stating, “This plant is a testament to our commitment to innovation and local empowerment. By investing in Ghana’s pharmaceutical sector, we aim to improve healthcare access, create sustainable jobs, and drive economic growth.”
The facility will also adopt eco-friendly practices, incorporating advanced technology to minimize waste and reduce its carbon footprint, aligning with global sustainability standards.
MiKO Pharma’s new facility is backed by key industry collaborations, including partnerships with Siemens and India-based Sushen Medicamentos Pvt. Ltd., ensuring the highest international standards in pharmaceutical production.
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Currently, 30 percent of Ghana’s pharmaceutical market is supplied by locally produced drugs, while 70 percent is imported. MiKO Pharma’s new facility is expected to contribute significantly to Ghana’s goal of increasing local pharmaceutical production over the next decade.
Dr. Michael K. Obeng, CEO and Founder of MiKO Pharma, underscored the project’s broader impact: “This groundbreaking is not just a significant step for MiKO Pharma, but for the entire African continent. We aim to produce drugs by Africans, for Africans, and contribute meaningfully to the global pharmaceutical landscape.”
The groundbreaking ceremony will bring together government officials, traditional leaders, and industry experts as MiKO Pharma embarks on this transformative project.