The statement said El-Ezaby Pharmacy, one of Egypt’s largest pharmacy chains, will contribute to the new company with its existing pharmacies and technical expertise in this area.
The Sovereign Wealth Fund and B Investments, which operates in the field of direct investment, aim to inject a capital increase into the new company over the next two years to provide services to more than 500 pharmacies in the main governorates, in from the chain of branches of existing El-Ezaby pharmacies, which exceed 250 pharmacies, in addition to the governorates that have the greatest need for health and pharmaceutical services.
Ayman Soliman, CEO of Egypt’s Sovereign Wealth Fund, said El-Ezaby Pharmacy is the main technical partner and retains the largest stake in the new company.
He added, “We will work together to grow locally and regionally…Through this partnership, we will introduce a new business model for individual pharmacies to support their growth and expand their services.
The Sovereign Wealth Fund, which was established in 2018, reported that the value of the drug and nutritional supplement trade in Egypt currently exceeds £130 billion, and thus the drug trade investment platform for the Fund ruler of Egypt is a good investment opportunity.
It should be noted that El-Ezaby Pharmacy was established in 1975 and is owned by Ahmed El-Ezaby, who said he was delighted to inject new investment into the Egyptian market and partner with the Sovereign Fund of Egypt and B Investments in this strategic sector. .
El-Ezaby added, “This partnership will strengthen the institutional character of the pharmaceutical trade and pharmacy management sector, and also support expansion plans by providing health care services on a larger scale in Egypt.
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