Egypt: Sovereign fund unveils B2B pharma venture to spur pharmaceutical sector

The healthcare sub-fund of The Sovereign Fund of Egypt (TSFE) and B Investments company have entered into a partnership with El-Ezaby pharmacy chain to launch a new venture tasked to provide business-to-business (B2B) services in the Egyptian pharmaceutical sector, Ahram Online reports.

The company, named EZ International, will provide pharmaceutical companies in Egypt with a slew of services, including logistical and administrative support to distribution and trade services to grow their businesses and ensure customer satisfaction, TSFE said in a press release on Monday.

EZ International will serve over 500 pharmacies in Egypt, starting with more than 250 branches affiliated with El-Ezaby per the communique. The new company’s launch will be funded by increasing the capital of TSFE and B Investments by an undisclosed amount.

“TSFE collaborates with only the top experts and specialists to ensure that its projects are successful and create real and positive social impact through distinctive services at competitive costs, which contributes to achieving the state’s goals and the state’s ownership policy document”, TSFE Chairperson and Minister of Planning Hala El-Said stated.

The Arab country is aiming to raise the private sector’s share in the national economy to 65 percent, up from the current 30 percent. Pharmaceutical sales in the country hit $5.5 billion in 2022. The sector projects the exports to increase by five percent every year in the next three years.