The European Bank for Reconstruction and Development (EBRD) has fully exited its remaining 8.8% stake in Ibnsina Pharma through the Egyptian Exchange (EGX).
EBRD initially acquired a 20% stake in Ibnsina Pharma in 2015, supporting the company’s development by financing its warehouses, distribution centers, and overall supply chain. Since then, Ibnsina Pharma has grown significantly, emerging as Egypt’s leading pharmaceutical distributor and expanding into non-pharmaceutical operations.
Omar Abdel Gawad, CEO of Ibnsina Pharma, expressed his appreciation for the partnership with the EBRD, stating, “Our collaboration with the EBRD has been pivotal in our growth and expansion, playing a key role in our journey to becoming the top player in the Egyptian market.”
Hassan Massoud, who oversees the EBRD’s private equity business in the southern Mediterranean, acknowledged the success of the investment despite the challenging macroeconomic environment in Egypt. He highlighted the successful exit, emphasizing EGX as a reliable venue for private equity exits.
Ibnsina Pharma, founded in 2000, is a leading distributor of pharmaceutical products in Egypt, with a nationwide network of distribution outlets and warehouses.
The EBRD has made several equity investments to support Egypt’s private sector, including in companies such as Infinity (Africa’s largest renewable energy developer), Hassan Allam Renewable Energy, Global Corp (a prominent leasing and factoring company), and Tamweely (a key microfinance firm). The Bank has also invested in and exited Egyptian healthcare providers like Cleopatra Hospitals and Adwia/KELIX bio.
As a founding member of the EBRD, Egypt has been a key focus for the Bank since its operations began in 2012. To date, the EBRD has invested over €13.8 billion in 196 projects across sectors like finance, agribusiness, manufacturing, and infrastructure, with significant contributions to Egypt’s power, water, wastewater, and transport sectors.
