Development Partners International (DPI), an Africa-focused private investment firm, announced a $165 million equity investment in Kazyon Ltd., with co-investors including British International Investment (BII), South Suez and others.
Kazyon, founded in 2014, will invest the funding in openning new stores, according to a statement by DPI to local media.
Reports added that Kazyon is planning to enter new markets outside the country’s borders.
Kazyon will make use of DPI’s expertise in ESG (Environmental, social and governance) impact to fasten its expansion strategy and set new ESG action plans for its future growth.
The Cairo-based Kazyon is a giant discount retailer selling basic food commodities at affordable prices. The company currently operates over 600 stores in 18 governorates across Egypt.
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