Jamjoom Pharma provides SAR 31.8M corporate guarantee to Algerian JV

Jamjoom Pharma said the purpose of the banking facility is to fund Jamjoom Algeria’s mid-term working capital requirements

Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) announced that its 49%-owned joint venture in Algeria, Jamjoom Algeria Lil Dawa SPA, signed a standby letter of credit (SBLC) offer with Natixis Algérie, with a total value of DZD 2.25 billion (SAR 64.89 million).

In a statement to Tadawul, the company said it provided a corporate guarantee to the bank on Jan. 15, 2026, to support the issuance of the SBLC, in accordance with Algerian law and in proportion to its shareholding in the joint venture (JV). Accordingly, Jamjoom Pharma is guaranteeing DZD 1.102 billion (SAR 31.8 million).

The banking facility aims to fund Jamjoom Algeria’s mid-term working capital requirements.

The statement noted that Jamjoom Algeria is a related party, as board members Mahmoud Jamjoom and Ahmed Jamjoom have a direct interest through their board membership in the JV, while Walid Jamjoom, Mohammed Jamjoom, and Alaa Jamjoom have an indirect interest.