Global Courant 2023-05-08 16:29:35
The Sovereign Fund of Egypt (TSFE), through its subsidiary fund for health services and pharmaceutical industries, and B Investments firm, have announced the launch of a new company under “EZ International” in partnership with Pharmacy El Ezabyto provide logistics and administrative services to pharmaceutical institutions and to assist in drug distribution and trading services.
Pharmacy El Ezaby will contribute to the new company with its existing pharmacies and technical expertise in this area.
The TSFE and B Investments are aiming to raise capital in the business over the next two years to provide services to more than 500 pharmacies nationwide, starting with the El Ezaby pharmacy chain which has more than 250 branches nationwide.
The partners also aim to take advantage of the latest technology solutions to offer a wide range of digital services to improve operational efficiency and customer experience.
The new partnership between the Fund and the private sector is central to Egypt’s 2030 Vision and Sustainable Development Goals by developing the healthcare sector as a priority to achieve sustainable economic growth, Minister of Planning and Economic Development and Chairman of the Council of board of Directors of the Sovereign Fund of Egypt, said Hala al-Saeed.
She added that it also aims to expand the production and trade of medicines in Egypt regionally, resulting in the development of key strategic sectors while providing sustainable financial returns for future generations.
Saeed emphasized that the TSFE always proves its ability to build partnerships with the Egyptian and foreign private sectors in various fields, which increases the chances of investment in strategic sectors that have a social impact by providing distinctive services at a competitive cost and by improving overall quality. of services.
The CEO of the TSFE Ayman Suleiman added that this new partnership is in the pharmaceutical sector, which is experiencing great growth in Egypt.
He added that the partnership aims to provide quality and affordable healthcare services accessible to all, while prioritizing the most needy governorates and taking advantage of the industry’s growth potential, with greater geographic spread and deeper technological empowerment .
“We are eager to benefit from El Ezaby Pharmacy’s expertise in this area as it is the key technical partner and retains the majority interest in the new company. We will work together to expand locally and regionally. Through this partnership, we will showcase a new business model for individual pharmacies to support the growth and development of their services,” said Suleiman.
The volume of trade in medicines and dietary supplements in Egypt currently exceeds 130 billion LE.
