Kazyon to invest EGP800mn in Egypt; plans to open 100 new branches
Supermarket chain Kazyon is looking to invest EGP800mn in Egypt during 2017, to open 100 new branches, according to Kazyon parent company’s CEO Mohamed Kharma. The company, which launched three years ago, currently operates 175 stores in Egypt. Despite higher cost pressure following the EGP floatation, the company continues to sell its products at competitive prices that are c10-20% below supermarket prices. Kazyon plans to inject additional investments over the next five years and is targeting to expand outside of Egypt.
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