Gweru company helps in sourcing forex for drugs procurement

By Stephen Chadenga

GWERU based diversified company TM Group through its subsidiary, Prime
Mutual Properties in Zambia is assisting local pharmacies and
hospitals with foreign currency to procure drugs that are imported
outside the country.

TM Group has interests in construction, Information and Communication
Technologies, micro-finance, farming, medical aid and funeral services
among other ventures.

The company’s Group board chairman,Tinashe Manzungu said his
diversified firm, which recently established the Zimbabwe General
Medical Aid Fund (ZG Medical aid) was aware of challenges being faced
by pharmacies in acquiring medicines outside the country hence the
move to assist with foreign currency.

“On the issue of foreign currency shortage which is resulting in
shortage of drugs in pharmacies, we have since engaged service
providers whom we are assisting to get foreign currency through our
Zambian subsidiary Prime Mutual Properties,” Manzungu told Radio  VOP in
an interview on Monday.

“So when we realise revenue in Zambia (through Prime Mutual
properties) we channel it towards procurement of drugs through
pharmacies meaning we don’t have any challenges with medication to our
ZG Medical clients hence the huge registration to 35 000 membership in
the last quarter of this year.”

Over the past few months the country has been facing shortage of
essential drugs as a result of unavailability of foreign currency to
procure the medicines.

According to the Pharmaceutical Society of Zimbabwe the industry is
95% dependent on imports with even locally manufactured products
requiring importation of active pharmaceutical ingredients.

Manzungu also said ZG Medical aid has increased its membership to 35
000 with half of the clients registered in Gweru while the other half
is spread in the Midlands province and other parts of the country.

He said ZG medical aid was also targeting people from the informal
market with no payslips who are usually neglected by most insurance
and medical aid companies.

The TM Group boss said they were also launching a TM life card that
will allow clients to access services from all its seven subsidiaries
through the electronic card as it seeks to expand its service base and
ensure convenience to clients.