Back to the complete issue
Monday, 8 November 2021

Ibnsina’s investment arm to pour EGP 440 mn into logistics firm

EGX-listed Ibnsina Pharma’s investment arm AIM is investing EGP 440 mn to establish a logistics service provider, Ramp Logistics, according to an EGX disclosure (pdf). The third-party logistics business is set to provide warehousing and transport services, and will be 99% owned by AIM.

Ramp Logistics is planning both sector and regional expansion: The company is looking to serve sectors outside of pharma in Egypt while also planning to grow its geographical footprint. Ramp has already signed a contract with Orchid Kuwait Egyptian Company to set up a new 31k sqm warehouse in Tenth of Ramadan, doubling its storage capacity. “The planned expansion by Ramp Logistics … will allow Ramp Logistics to lower the required initial capex needed for expansion and extend the payment of investment cost over a long period,” said Omar Abdel Gawad, co-CEO of Ibnsina Pharma.

Background: Ibnsina, a pharma distributor, had previously signaled plans to shore up its logistics capabilities and was looking to invest EGP 180 mn in 2021 to set up new distribution hubs and improve its tech infrastructure.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.