Jamjoom Pharma provides SAR 16.6M guarantee for Algeria JV loan

12/05/2025 Argaam
Logo ofJamjoom Pharmaceuticals Factory Co.

Logo of Jamjoom Pharmaceuticals Factory Co.

Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) said its joint venture (JV) in Algeria, Jamjoom Algeria Lil Dawa SPA, signed a Shariah-compliant, short-term revolving banking facility worth SAR 34 million (DZD 1.2 billion) with Al Baraka Bank.

 

Jamjoom Pharma owns a 49% stake in the JV.

 

Jamjoom Pharma owns a 49% stake in the JV, according to a Tadawul filing.

 

The company provided a corporate guarantee to the bank in accordance with Algerian law and in proportion to its shareholding in the JV. Thus, the company will guarantee SAR 16.6 million (DZD 591 million).

 

The banking facility will fund Jamjoom Algeria’s short-term working capital requirements.

 

Jamjoom Algeria is a related party, as Jamjoom Pharmaceuticals’ board members, Mahmoud Yousuf Jamjoom and Ahmed Yousuf Jamjoom, have a direct interest as they sit on Jamjoom Algeria’s board.

 

Meanwhile, board members - Yousuf Mohammed Jamjoom, Mohammed Yousuf Jamjoom, and Alaa Yousuf Jamjoom - have an indirect interest.

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