Neimeth Plans N20bn Capital Raise for Expansion

Neimeth International Pharmaceuticals Plc (NGX: NEIMETH) is targeting a capital raise of N20 billion to accelerate its expansion efforts. The fundraising program has received approval from shareholders and is part of the company's strategy to consolidate its return to profitability and fund a new phase of capacity expansion.

This disclosure was made by the Managing Director and CEO, Valentin Okelu, during the firm's 2026 annual media briefing ahead of the Annual General Meeting (AGM). The capital raise aims to strengthen operations, refinance obligations, and position the firm for long-term growth across the African market.

This initiative follows a financial turnaround, with management asserting that recent earnings have stabilized operations, providing a foundation for new capital inflow and investor confidence. The funds will support facility upgrades, enhance product positioning, and stabilize the balance sheet by restructuring legacy debt.

The capital raise is expected to improve supply reliability and reduce import dependence, thereby enhancing medicine security across Africa.