Intravenous Infusions PLC shareholders approve GH¢50 million rights issue to recapitalise operations

Intravenous Infusions PLC Shareholders have approved a rights issue to raise GH¢50 million to recapitalise the company, service debts, expand operations and address funding gaps to position the business for growth. The decision was announced at the 2025 Annual General Meeting (AGM) in Accra, where the Board presented its annual report, the audited financial statements for the year ending December 31, 2024, and the auditors’ report.

Board Chairman, Dr Isaac Osei, said the move would allow existing shareholders to purchase additional shares to strengthen the company’s financial base. He noted that while macroeconomic indicators such as inflation and interest rates showed positive trends in 2024, the cedi recorded cumulative depreciation of 18.6 per cent against the US dollar, 17.9 per cent against the British pound and 16 per cent against the euro.

The company’s revenue fell by 20.6 per cent year-on-year, with net exchange losses of GH¢1.98 million contributing to a net loss before tax of GH¢0.48 million in 2024. Dr Osei stressed that the revenue decline was not due to weak demand or competition, as the company’s products remained market leaders.

To reverse the decline, Intravenous Infusions will implement short- to medium-term strategies, including expansion in domestic and export markets, new product development through local and international partnerships, and growth into additional product lines to optimise its value chain. The company also plans to strengthen its retail pharmaceutical presence, enhance brand image through stakeholder engagement, and address supply chain challenges to ensure consistent raw material availability.

Given the 2024 performance, the Board did not recommend dividend payments.

Managing Director, Mr Moukhtar Soalihu, said financing constraints in the past year had limited the company’s ability to procure raw materials, impacting revenues. He outlined a five-year strategic plan to diversify from infusions into injectables, with 16 new products in research and development. Expansion targets include Ivory Coast, Benin, Togo, Burkina Faso, Liberia and Sierra Leone, as the company seeks to consolidate gains and grow its export market presence.