Accra, Ghana//- Intravenous Infusions PLC (II PLC), a local pharmaceutical manufacturer has appointed Nana Osei Kwame Kyeretwie as the New Director of the company.
This was announced by a press release issued by the Ghana Stock Exchange (GSE) to inform the public and the investing public. The company has been listed since 2015 on the Ghana Alternative Market (GAX), an innovative market operated by the GSE.
Who is the new appointee?
Nana Osei Kwame Kyeretwie, an Asateman Nkosuhene known in private life as Edward Nana Kyeretwie Osei, is a businessman and IT consultant.
He had his secondary education at Prempeh College in Kumasi and Akosombo International School. He proceeded to have his undergraduate education in Economics at Westminster University in England in 1989.
Nana Osei Kwame Kyeretwie also pursued a Diploma in Computer Information Systems and earned his M.S.E in Commerce Technology in Project Management at Rockwell University in Alexandria Virginia in the United States of America (USA) in 1994.
He has extensive field experience, strong management, and leadership skills, and he is detailed-oriented. Nana Osei Kwame Kyeretwie has worked for several companies including Oracle Corporation, Water Reed School, Arlington, American Technologies, CVS Pharmacy, and Eg&G-Washington Analytical Centre either as a permanent employee or on a contract basis.
He is currently the CEO of Miracle Chemist, the Country Manager for Molvera Oil and Gas, the Co-owner of Bhara’s Palace, and on the board of Asafo-Agyei Hospital.
Performance of Intravenous
The company at its 2023 Annual General Meeting (AGM) held in Accra on June 21, 2024, said it recorded a year-on-year revenue growth of 54.3 per cent.
Its Board Chair, Isaac Osei who addressed the company’s shareholders indicated that the revenue growth rate achieved, coupled with prudent management of costs, resulted in turning the losses of GH¢3.5million in 2022 into a profit before tax of GH¢3.3 million in 2023.
The company’s retained earnings, according to the 2023 annual report, increased by 242 per cent compared with a decline of 77 per cent in 2022.
The report also indicated an increase in shareholders’ funds by 17.2 per cent relative to a decline of 19.2 per cent in 2022; and the company’s assets utilisation ratio also improved significantly, from 43.5 per cent in 2022 to 67.6 per cent last year.
The IIPLC’s mission is to dominate the IV fluids and small-volume injectable market in West Africa, through the delivery of high-quality pharmaceutical products at competitive prices and supported by an active and energetic marketing agenda.
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