Private equity deal for Afghanistan Business Investment Fund grant recipient

786 pharmacy. PHOTO: Gulbuddin Elham.

786 pharmacy. PHOTO: Gulbuddin Elham.

A DFID-funded Landell-Mills-managed Afghanistan Business Innovation Fund recipient, the Afghan 786 pharmacy chain, has attracted an investment by British private equity firm InFrontier.

786 employs in-house doctors who provide basic medical services, helping meet the need for healthcare in a country with just 7.26 doctors per 10,000 people. By taking a stake in the pharmacy chain, InFrontier brings capital, strategic expertise and market linkages needed to expand the brand over the next five years.

According to a recent Financial Times article, InFrontier’s founders Felix von Schubert and Benj Conway believe that attractive investment opportunities exist in Afghanistan in spite of ongoing violence. They argue that, although tens of billions of dollars of aid money has been channelled into Afghanistan, private investment is key to future economic growth.

The investment represents a significant achievement, brought about with support from Landell-Mills.