Ugandan Pharmacy Chain Ecopharm Receives Fourth Investment From XSML

XSML has made its fourth round of investment as a combination of debt and equity in Ugandan pharmacy chain Ecopharm through its third fund under management, the African Rivers Fund 3.

Founded in 2008 by pharmacist Idd Iwumbwe, Ecopharm sells both branded and local pharmaceutical products through its pharmacy chain in Kampala along with wholesale of branded products. XSML is an active fund manager in Central and East Africa and targets growing small and medium size firms.