McDonalds to open 80 new locations in Egypt, invest EGP120mn annually until 2020
McDonalds plans to add 80 restaurants to its network to reach 170 locations by 2020, according to Hesham Abdel Wahab, head of marketing, for total investments of EGP480mn. This should translate to revenue growth of c7% per annum; 2015 revenue was cEGP1bn. The company relies on local suppliers for c85% of its raw material needs, the article added. McDonalds Egypt is owned by Mansour. (Al Borsa, Al Mal)
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