In a landmark move that reaffirms Uganda’s pharmaceutical self-sufficiency and regional health leadership, Quality Chemical Industries Limited (QCIL) has secured a USD36M ( about Shs131 billion) facility from Stanbic Bank Uganda.
The financing will support the construction of a new state-of-the-art manufacturing plant in Luzira, one poised to double the company’s capacity and redefine access to essential medication across Africa.
At a time when regional demand for HIV, malaria, and TB treatment continues to outpace local supply, this deal represents a turning point not just for QCIL, but for the region’s entire healthcare system.
“This investment enables QCIL to scale its production from 1.4 billion to 2.4 billion tablets annually and introduce injectables and TB-specific treatments into our product line,” said Emmanuel Katongole, Chairman and Co-Founder of QCIL, adding, “With Stanbic’s support, we’re cementing Uganda’s place as a pharmaceutical powerhouse for Africa.”
The transaction was exclusively arranged by Stanbic Bank’s Corporate and Investment Banking (CIB) division, signalling the bank’s continued dedication to financing real impact, where it matters most.
“This is not just about financing a factory; it’s about building a healthier, more self-reliant Africa,” said Ajay Kumar Pal, Chief Executive Officer at QCIL.
“We are deeply grateful to Stanbic Bank Uganda for believing in our mission and walking the journey with us,” he added.
Bridging the Health Gap in East Africa
Despite East Africa’s high disease burden, with over 5 million people living with HIV, 600,000 new TB cases annually, and 54 million malaria cases each year, local pharmaceutical manufacturers meet less than 20% of medicine demand. The gap is staggering and costly.
QCIL’s expansion thus directly addresses this deficit by deepening regional supply chains and reducing reliance on imports, many of which are delayed, expensive, or inaccessible.
“QCIL is a strategic player in Uganda’s health value chain,” said Paul Muganwa, Executive Director and Head of CIB at Stanbic Bank Uganda.
“We are proud to have provided a sustainable finance solution that aligns with our long-term vision: enabling health, empowering people, and driving growth,” he added.
Stanbic Bank: Financing What Matters
This deal also reinforces Stanbic Bank Uganda’s role as a purposeful institution; one whose legacy as the former Uganda Commercial Bank (UCB) lives on in its enduring commitment to national development.
“This is a milestone transaction; bold in scale and catalytic in intent,” said Mumba Kalifungwa, CEO of Stanbic Bank Uganda, adding, “It proves we haven’t forgotten our roots. From UCB to Stanbic, our purpose remains the same: Financing what matters, for the people who matter.”
With QCIL already certified by the World Health Organisation (WHO) and licensed to distribute in 31 African countries, this expansion catapults Uganda into a new era of continental pharmaceutical leadership.
Editorial Insight – A Partnership Anchored in Purpose
As Uganda scales its health sector ambitions, Stanbic Bank Uganda’s role goes beyond banking; it is about building resilience, creating impact, and enabling systems that outlive transactions. This QCIL– Stanbic Bank partnership is not just a financial deal; it’s a vote of confidence in Uganda’s capacity to lead Africa’s healthcare future.
In a region often constrained by access to medicine, Stanbic Bank has once again demonstrated that its heart still beats for Uganda; loud, strong, and full of purpose.