Medicamen Organics signed a Memorandum of Understanding (MoU) with Depot Pharmacy Yego in Rwanda. This agreement marks the commencement of Medicamen’s operations in Rwanda as a subsidiary, with an initial investment of $75,000. This investment covers capital and product registration costs in the first phase.
Medicamen plans to establish its warehouse and depot in Kigali, Rwanda. The company will import products into Rwanda through Depot Pharmacy Yego from various countries, including the United Kingdom, France, Belgium, India, China, Kenya, Tanzania, and Uganda.
Medicamen Organics’ decision to invest in Rwanda is based on the country’s strategic regional positioning, low-risk factors, excellent connectivity, growing private sector, and preferential tax rates. Rwanda remains an attractive location for foreign investment, being one of the world’s fastest-growing economies with a conducive business environment.