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Cairo, December 4, 2023
Valu, MENA’s leading universal financial technology powerhouse, and GSK, a science-led global healthcare company, announced today a unique partnership aimed at providing flexible financing solutions for a range of GSK's vaccines available at a wide range of pharmacies across Egypt. By introducing innovative financing options, the collaboration endeavors to make the purchase of GSK's vaccines more attainable for a wider demographic, thereby positively impacting the healthcare landscape in Egypt.
In this collaboration, Valu and GSK aim to create a more inclusive and equitable healthcare ecosystem, aligning with their shared vision of advancing public health and well-being in Egypt. They aim to empower individuals and families to prioritize preventative healthcare, ultimately contributing to the well-being of communities nationwide.
Walid Hassouna, CEO of Valu, said, "We are thrilled to announce our partnership with GSK, which aims to enhance healthcare accessibility in Egypt. This collaboration reflects our shared commitment to improving public health and well-being. Through innovative financing solutions, we aspire to make GSK's vaccines more accessible, ultimately contributing to a healthier society. We are excited about this partnership's positive impact on communities across Egypt and look forward to making a meaningful difference together."
BNPL programs can make vaccines more affordable and accessible to individuals who may not have the funds to pay for medication upfront. This can be particularly beneficial for those with ongoing medical needs or unexpected medical expenses. It can help alleviate the financial burden of purchasing vaccines, making it easier for individuals to manage their healthcare expenses.
Hassan Fahmi, General Manager of GSK Egypt, said, "We are delighted to embark on this partnership with Valu, a first-of-its-kind collaboration in our industry. At GSK, our century-long dedication to Egypt has been instrumental in shaping the foundations of our company. With over 1,000 highly skilled individuals and two manufacturing facilities, we proudly produce hundreds of millions of packs annually, catering to local needs and exporting to numerous countries. As the sole multinational company listed on the Egyptian stock exchange, we remain committed to upholding our legacy in Egypt while continuing to impact society positively. Leveraging our scientific expertise, strategic alliances, and the knowledge gained from tackling global health challenges, we are steadfast in our mission to enhance global well-being."
The partnership is the latest in a series of successful collaborations Valu has forged in the Egyptian healthcare space, including those with Saudi German Hospital, As-Salam International Hospital, Dar El Fouad, Cleopatra Hospitals, and El Nada. Given GSK’s extensive history in Egypt and its aim to positively impact the health of 2.5 billion people by the end of 2023, this collaboration will only deepen and expand Valu’s already comprehensive footprint in the Egyptian healthcare sector.
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About Valu
Valu is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region through U, providing customizable financing plans for up to 60 months across more than 6,000 points of sale and over 1,500 websites and apps – covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, savings solutions, and a financing solution to facilitate the purchase of big-ticket items up to EGP 15 million in the luxury space through the AZ Valu fund and EFG Hermes ONE, Sha2labaz, Akeed, and Ulter respectively. In addition, Valu offers business-to-business solutions with a hassle-free HR payroll service and more through Valu Business. As an award-winning fintech player in the MENA region, Valu embraces a progressive mindset with an agile workforce committed to architecting innovative financial solutions.
For further information, please contact:
May El Gammal
melgammal@Valu.com.eg
Omar Salama
osalama@Valu.com.eg
Valu Public Relations Team
Public_Relations@Valu.com.eg
Note on Forward-Looking Statements
In this press release, Valu may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only Valu’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations, and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
About GSK
GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Find out more at gsk.com/company.