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Egypt's sovereign fund, B Investment ink deals to co-invest over EGP 2 billion in health sector

BIH and TSFE's sub-fund are committed to invest EGP 200 million and EGP 100 million, respectively.
26.01.23 | Source: Ahram Online

The agreements were signed through the TSFE Healthcare & Pharma Sub-fund in a ceremony held in Cairo on Tuesday, according to a statement by the Egyptian Ministry of Health and Population.


Under the first deal, B Healthcare Investments (BHI) – the investment vehicle of BIH in the field of specialised healthcare, notably fertility as well as maternal and child health – aims to raise up to EGP 1 billion.


As per the deal, BIH and TSFE's sub-fund are committed to invest EGP 200 million and EGP 100 million, respectively, with the rest to be offered to local and regional private sector investors, according to a statement by TSFE.


BHI – which has recently completed the acquisition of 51 percent of the total shares of the Egyptian fertility treatment centre – aims to invest in reproductive health, and maternal and child health.


As per the second agreement, BIH will invest in pharmaceutical distribution and trade services via an investment platform established by TSFE Healthcare & Pharma Sub-fund.


The platform aims to enhance efficiency and inject capital to support infrastructure upgrades required to institutionalise the sector. This will be carried out via partnerships with pioneering local firms to accelerate their growth into under-served cities in Egypt and across the region, according to the ministry statement.


It also aims to leverage the latest technological solutions to provide a wide range of digital offerings that will lead to cost efficiencies, ensure market stability and improve customer experience.


The event was attended by the Egyptian Minister of Health and Population Khaled Abdel-Ghaffar and the Minister of Planning and Economic Development and Chairperson of TSFE Hala El-Said.

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