The Company also focuses on identifying and promoting local African talent: 80% of senior hires since Carlyle invested in the company in 2019 have been from East Africa, improving local share of the executive team to 60%. One of the persistent issues facing Africa is a shortage of trained pharmacists, so Abacus currently pays the tuition for 20 local pharmacy students per year. To grow and develop as a business, Abacus proactively supports its regional community to promote sustainable employee, supplier, and customer bases. While Abacus’ business thesis aligns with solving a challenging issue for its local community, the reverse is true as well: Abacus needs a thriving local community in order to be successful. Abacus is headquartered in Uganda with direct operations across Kenya, Tanzania, Rwanda, Burundi and a presence across the continent. Founded in 1995, Abacus Pharmaceuticals aims to bridge that gap across East Africa by establishing local pharmaceutical production capability and partnering with international suppliers to provide locally branded generic products or affordable medicines from abroad. Local manufacturing of pharmaceuticals is a major challenge to health care access in Africa, which has a mere 3% share of global pharmaceutical production and remains largely dependent on imports. Supporting the community while growing a strong business
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