CAPS HOLDINGS TO REOPEN PENICILLIN PLANT IN ZIMBABWE

Pharmaceutical and healthcare products manufacturing giant CAPS Holdings Limited will reopen its Zimbabwean penicillin plant at the end of August, the company announced. The plant was closed in 2002 in order to comply with current Good Manufacturing Practices and achieve World Health Organization (WHO) certification.

Recently, the company successfully raised $77 billion through a rights issue, with the proceeds being channeled towards the refurbishment of the plant and the upgrade of the group's IT systems.

Once complete, the modernized factory will enhance efficiency and improve product supply into the domestic and export markets, noted the company.