Logistics companies are needed to help the African pharmaceutical market reach its potential of US$30 billion by 2016. According to the African Development Bank, Africa is the second most dynamic pharmaceutical market after Asia Pacific. At present the African market is growing at a compound rate of more than 10% a year. “Although the African pharmaceutical market represents only 2% in global terms, it is the fastest-growing in the world,” says Mthuli Ncube, chief economist and vicepresident at the African Development Bank. “There is a window of opportunity considering the strong demographic dynamics and the growth of consumer spending power in Africa.
