Transaction Advisory for Global Quinine Leader Based in Eastern DRC

Sub-Saharan Africa
CrossBoundary Advisory
Agriculture & Agri-Business
Market: Democratic Republic of Congo
Facilitating a seamless transition to a suitable takeover investor
Capital raising
Due diligence
Fundraising support
Market research/analysis

About the Client

Pharmakina is headquartered in Bukavu, Democratic Republic of Congo, and is a key global player in the production of quinine, an essential compound used in both the pharmaceutical and beverage industries. The company sources over 80% of its cinchona bark—quinine’s raw material—from smallholder farmers in North and South Kivu.


CrossBoundary Advisory was commissioned to facilitate a seamless transition to a suitable takeover investor. With nearly 40 years under its belt, an Eastern DRC-based company was searching for an investor capable of ensuring a prosperous future for the company, which is one of the world’s few producers of both quinine pharmaceutical products and quinine salts.

Quinine has a stable and diversified market, given its application in antimalarial drugs as well as in the beverage industry, notably in tonic water. The sourcing of cinchona bark from conflict-prone regions like North and South Kivu adds a layer of complexity, making governance and ethical sourcing vital. CrossBoundary Advisory understands the complexity of these markets and applied our on-the-ground presence and expertise in DRC for the execution of this deal. This engagement was supported through USAID’s DRC Investment Facilitation program.


CrossBoundary Advisory’s support ensured a successful investor match and transition:
Market Analysis: Conducted an in-depth study of the quinine sector, focusing on key markets within the pharmaceutical and beverage industries.
Commercial Due Diligence: Undertook an exhaustive commercial due diligence of Pharmakina to evaluate its market positioning, competitiveness, and risks.
On-site Assessments: Visited the company’s base in Bukavu, Eastern DRC, to work directly with management and carry out detailed Environmental, Social, and Governance (ESG) and governance assessments.
By implementing this holistic approach, CrossBoundary aimed to not only secure a suitable investor for our Client but also to ensure a seamless transition that respects the company’s heritage and potential for future growth.


In April 2023, AlphaTalents Africa (ATA) acquired a majority stake in Pharmakina

Positioned the company for fundraising by ensuring that they had high-quality investor engagement material

Connected the company to high-probability investors and provided guidance throughout the fundraising process