EU Commissioner Piebalgs visits Afrika Biopharma Manufacturing

The company benefited from a €0.7 million allocation from the EU-funded Risk Capital Facility (RCF) programme to co-finance a €1.5 million loan from a South African financial institution. Thanks to the RCF 9,400 jobs have been created, including 38 jobs in the visited company.

After the visit, Commissioner Piebalgs commented: "The Risk Capital Facility set up by the European Commission and the European Investment Bank is an innovative and successful tool to help the development of the private sector for the benefit of formally disadvantaged people. Our target is to contribute to creating 13,000 jobs in the coming years. The EU will continue to stand by South Africa in their actions towards growth and sustainable development."