May 9, 2023

The Sovereign Fund of Egypt, B Investments and El-Ezaby Pharmacy to break new ground with ambitious pharma venture

Cairo, 8 May 2023, – The Sovereign Fund of Egypt (TSFE), through its healthcare and pharmaceutical industries Subfund (“TSFE Healthcare & Pharma Subfund”) and leading private equity firm B Investments, announced the launch of new company EZ International in partnership with leading pharmaceutical chain El-Ezaby Pharmacy, offering logistics and management services for pharmacies, as well as pharmaceuticals distribution and trade services.

EZ International will break new ground in Egypt’s 130-billion-pound pharmaceutical sector by acting as a dependable one-stop shop for the country’s pharmaceutical companies, offering everything from logistical and administrative support to distribution and trade services to grow their businesses and ensure customer satisfaction.

El-Ezaby’s extensive network of existing pharmacies, deep technical expertise and proven track record will guarantee that EZ International’s services are in line with the highest industry standards.

To support the ambitious new venture, TSFE and B Investments are moving ahead with a two-year capital increase plan. The proceeds will kickstart EZ International, helping it roll out high-quality services to more than 500 pharmacies countrywide, starting with El-Ezaby’s more than 250 branches.

To set itself apart, EZ International will deploy the latest digital technology, ensuring the highest level of operational efficiency for companies and unparalleled quality for their customers. It will offer top-notch solutions for the sector’s most pressing needs.

Commenting on the exciting new public-private partnership, Minister of Planning and Economic Development & TSFE’s Chairperson H.E. Dr. Hala El-Said, said the venture is in lockstep with Egypt’s Vision 2030, underscoring the country’s unwavering commitment to sustainable development goals.

El-Said added that developing the manufacturing capabilities and trade services of the pharmaceutical sector is a key component to Egypt’s sustainable economic growth. It also sets Egypt up for a bright future, generating financial returns for generations to come, said El-Said.

“The Sovereign Fund of Egypt 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” El-Said said.
TSFE CEO Ayman Soliman said that EZ International is perfectly positioned to lead the way in Egypt’s fast-growing pharmaceuticals sector and can leverage its unique set of assets and deep experience to expand in both local and regional markets.

“We are keen on benefiting from the expertise of El-Ezaby, our main technical partner and the largest stakeholder in EZ International, and we look forward to working together closely to expand locally and regionally. Through this partnership, we offer independent pharmacies a new business model that supports their growth and business development.” Soliman said.
Co-Founder and Chairman of B Investments Hazem Barakat said he is pleased with the new venture. He said B Investments is entering the partnership with a “big appetite” owing to the wave of interest and opportunities currently flooding the pharmaceutical sector.

Barakat added that B Investments will use its strong financial and administrative expertise to support and develop companies in Egypt’s critical and promising healthcare and pharmaceuticals sector.

“I’m thrilled about injecting new investments into the Egyptian market and collaborating with the Sovereign Fund of Egypt and B Investments,” El-Ezaby Pharmacy Chairman Ahmed El-Ezaby said.
He added that the new partnership is certain to bolster the pharmaceutical sector and unlock whole new areas of growth, all while maintaining the highest level of commitment to global environmental, social, competitiveness, and governance standards. Through this partnership, we will work towards partnering with independent pharmacies to leverage their growth potential and improve their financial position.