The Egyptian Authority for Unified Purchasing (UPA) is supplying Zambia with a total value of $24 million of pharmaceutical supplies, according to a statement by the Cabinet on Tuesday.
The move is part of Egypt’s vision to increase medical exports to African markets, said Bahaa El-Din Zidan, the CEO of the authority.
Egypt has already sent the first shipment to Zambia, while the second shipment is currently being processed, he added.
During a meeting with Prime Minister Mostafa Madbouly on Tuesday, Zidan noted that the authority is accelerating the establishment of new six strategic drug storehouses to ensure the provision of medical products.
Egypt’s pharmaceutical market ranked first in the Middle East and North Africa (MENA) region in 2023, with a value of $56.6 billion.
In 2022, Egypt ranked fourth among African markets in terms of attracting pharmaceutical investments.
This pharmaceutical and medical exports sector is expected to grow to $5 billion in exports by 2030, up from $964 million in 2022.
Source: Ahram Online