New firm to deliver logistical, administrative services in pharmaceuticals

The Sovereign Fund of Egypt (TSFE) has announced the launch of a company that will offer logistical and administrative services to pharmaceutical institutions, in addition to drug distribution and trade services.

The TSFE added that its sub-fund for health services and pharmaceutical industries and the leading ‘B Investments’ have launched ‘EZ International’ in partnership with the El-Ezaby Pharmacy, which has long history in the field, a press release by the Ministry of Planning and Economic Development said on Monday.

El Ezaby brings its technical expertise and its retail branches share to the partnership.

The TSFE sub-committee and B Investments will increase capital in EZ International over the next two years to serve more than 500 pharmacies in the main governorates, starting with the El Ezaby chain. They will also serve those governorates that are in most need for health and drug services.

In addition, the partners will take advantage of the latest technological solutions in order to provide a broad range of digital services to improve efficiency of operation.

Minister of Planning and Economic Development Hala el-Saeed, who is also TSFE chairperson, said that the new partnership between the Fund and the private sector is integral to Egypt’s Vision 2030 and the sustainable development goals (SDGs).

This is being sought through developing the health care sector as a priority for achieving sustainable economic growth, in addition to expanding the Egyptian drug industry.

CEO of the TSEF Ayman Soliman said that the partnership covers a sector that has seen tremendous growth in Egypt, offering attractive investment opportunities with experienced partners to achieve the common vision of high-quality healthcare services at reasonable prices.

Established in 1975, El-Ezaby Pharmacy is recognised as one of Egypt’s leading providers of health and personal care products. With nearly 40 years of experience serving the Egyptian community, El-Ezaby maintains a nationwide network of more than 90 branches, multiple warehouses and one baby centre.