The National Bank of Egypt (NBE) has signed an agreement to participate in the capital increase of the Arab Pharmaceutical Ingredients Company (Arab API), alongside several major national institutions. The initiative aligns with Egypt’s strategic plan to localize pharmaceutical raw materials and strengthen the domestic drug manufacturing industry.
The project will establish Egypt’s first multi-purpose plant for active pharmaceutical ingredients (APIs) in the Ain Sokhna Industrial Zone, covering nearly 97,000 square meters. Valued at around EGP 6.6 billion, the venture aims to secure a reliable local supply chain, reduce imports, save foreign currency, and boost exports.
NBE CEO Mohamed El-Etreby emphasized that the bank’s participation underscores its commitment to supporting national industries that achieve self-sufficiency and serve Egypt’s Vision 2030. He described the project as a model partnership between banks, investors, and industrial entities balancing economic returns with developmental goals.
Deputy CEO Soha El-Turki highlighted that this investment marks a “qualitative leap” in building a solid industrial base for pharmaceuticals, ensuring sustainability and competitiveness. She added that the project was designed following strict environmental and public health standards.
Ahmed El-Said, NBE’s Head of Investments, noted that the bank holds 10% of the company’s capital, with the overall capital projected at EGP 3.3 billion. Other shareholders include the Arab Company for Pharmaceutical Industries and Medical Supplies (ACDMA), EPICO, the Economic Zone Investment Company, and the Agricultural Bank of Egypt.
