Plastic Bank and Axon Health join forces for a better and healthier world Partnership aims to distribute 100 million EGP worth of insurance coverage to 2,000+ collection community member

Cairo, February 2024: Plastic Bank has collaborated with Axon Health Insurance Services to provide better healthcare access to its collection community members in Egypt. The first-of-its-kind partnership will distribute 100 million EGP worth of health insurance to over 2,000 collection members, offering each of them up to 50,000 EGP to cover their medical bills.

Each member, along with one family member, will gain access to a network of over +3000 medical service providers, including hospitals and medical laboratories, across 11 governorates. Recognizing the importance of continuous care, the insurance will be renewed annually, and emergency hotlines will be set up to provide immediate assistance. In addition, the agreement includes flexibility for cases where healthcare costs exceed the covered amount, ensuring necessary support is available without additional financial burdens.

“This accord aligns seamlessly with Plastic Bank’s overarching vision to enhance the livelihoods of these workers, in line with the government’s strategic initiative to extend comprehensive health insurance coverage to all segments of society,” said Eng. Ahmed AbdelAleem, Country Manager of Plastic Bank for Egypt and Cameroon. “In partnership with Axon Health, we aim to enhance the living standards of individuals by offering comprehensive healthcare services to our collection members and their families.”

Karim Saber, Managing Director of Axon Health Insurance Services, echoed these sentiments, citing the convergence of the shared visions with Plastic Bank. He stated: “The mutual dedication to advancing healthcare accessibility to more segments of society motivated us to boost the living standards of collection members and alleviate their medical burdens. We are also profoundly proud of this strategic partnership, as it propels us more effectively towards this joint goal.”

Plastic Bank and Axon Health are set to conduct a series of introductory sessions for the collection members, which are designed to explain the benefits of the insurance and ensure a clear understanding of the insurance terms and conditions

The collaboration between Plastic Bank and Henkel since 2020 is noteworthy as a prime example of successful partnerships that have transformed society’s outlook on the issue of plastic waste. Henkel’s partnership with Plastic Bank has launched 20 collection branches across Egypt, where collection members exchange discarded plastic for a secure income and enjoy further benefits .

Beyond establishing branches for waste collection, Henkel has also been involved in promoting several initiatives, such as funding of social impact programs, educational initiatives, activities conducted collaboratively by trained employees from both Henkel and Plastic Bank, introducing insurance plans for collection members in Egypt, maintaining collection branches, ensuring that branch employees work in suitable conditions, and equipping them with safety essentials for their day-to-day tasks.

About Plastic Bank

Plastic Bank envisions a wasteless world. We empower the Social Recycling movement that stops ocean plastic and helps alleviate poverty. Our collection communities exchange plastic waste as currency for income and life-improving benefits. Exchanges are recorded through our proprietary blockchain-secured platform, enabling traceable collection, secured income, and verified reporting. The collected material is processed into Social Plastic feedstock for reuse in products and packaging.

PlasticBank® and Social Plastic® are trademarks of The Plastic Bank Recycling Corporation.
Learn more at plasticbank.com.

About Axon Health:

With a vision of easing the accessibility of health services for all individuals, Axon came to life as a fully-fledged medical expense management solution that caters to the transparency, flexibility and easement of providing medical services to both corporates and individuals through a diverse and comprehensive network of local and global medical providers.

Since its launch, Axon has attained +3000 medical providers onboard from all across Egypt, and saved +50M out-of-pocket expenses for an endless array of individuals. Its dedication to providing a seamless healthcare experience positioned Axon on top of the game through its thorough benefit plans that are cost efficient, flexible and endorsed by a strong portfolio of partners and clientele. Axon is more than just a medical insurance company, it’s a caretaker of both individuals and entities’ wellbeing
Learn more at: axon-eg.com

About Henkel Egypt

Henkel began its business operations in Egypt in 1992 and it is continuing to develop its business on a sustainable basis. Henkel Egypt is proud to have established a fruitful relationship with Egyptian consumers and the Egyptian government through its pioneering brands and the trust in both the Egyptian economy and Egyptian talents. Currently, Henkel Egypt employs more than 500 employees. In addition to more than 3000 indirect jobs. With the launch of the unified business unit “Henkel Consumer Products”, the company gained more prominent presence and wide spread, especially in hair care, laundry and home care products in Egypt, where three of the company’s brands (Persil, Pril and Palette) are considered the strongest in Egypt. Henkel prides itself as a leader in technology and is committed to technology transfer to the country and development of the Egyptian labor/youth through training and on-the-job development. Henkel is committed to operating sustainably in Egypt and is a responsible corporate citizen; it invests in the community and the environment it operates in as part of its global sustainability strategy and targets.

About Henkel

With its brands, innovations, and technologies, Henkel holds leading market positions worldwide in the industrial and consumer businesses. The business unit Adhesive Technologies is the global leader in the market of adhesives, sealants, and functional coatings. With Consumer Brands, the company holds leading positions, especially in hair care and laundry & home care in many markets and categories around the world. The company’s three strongest brands are Loctite, Persil, and Schwarzkopf. In fiscal 2021, Henkel reported sales of more than 20 billion euros and adjusted operating profit of around 2.7 billion euros. Henkel’s preferred shares are listed in the German stock index DAX. Sustainability has a long tradition at Henkel, and the company has a clear sustainability strategy with concrete targets. Henkel was founded in 1876 and today employs a diverse team of more than 50,000 people worldwide – united by a strong corporate culture, shared values, and a common purpose: “Pioneers at heart for the good of generations.” More information at www.henkel.com