Stanbic Bank Uganda has extended a UGX 133 billion ($34.8 million) credit facility to Quality Chemical Industries Limited (QCIL), a leading Ugandan drug manufacturer. This funding aims to double QCIL's production capacity to 2.4 billion tablets annually and facilitate the establishment of new manufacturing lines for tuberculosis treatments and injectable medicines. Emmanuel Katongole, Executive Chairman of QCIL, emphasized that the investment will enhance the company's ability to supply essential medicines across Africa. QCIL, listed on the Uganda Securities Exchange, closed today at UGX 87 per share. This development follows QCIL's impressive financial performance for the fiscal year ending March 31, 2024. The company reported a 68% increase in net profit, reaching UGX 32 billion, driven by improved manufacturing efficiencies and reduced raw material costs. Malcolm Musiime reports.