• IFC is providing a USD 30 million loan to Kazyon Group to expand its discount grocery retail operations in Morocco.
• Kazyon plans to grow its store network, warehousing, and storage, creating over 3,000 direct jobs in Morocco.
• The expansion supports Morocco’s retail sector and aligns with IFC’s strategy to improve food accessibility and safety in Africa.

IFC

What happened? The International Finance Corporation (IFC) announced that it is extending its partnership with Kazyon Group with a USD 30 million loan. This is to support its development and expansion into Morocco’s discount grocery retail sector. 

What will they do with the funds? With the funds, Kazyon aims to expand its operations in Morocco through increasing its retail stores, warehousing and storage capacity. This expansion plan is expected to generate more than 3,000 direct jobs. 

“Serving over half a million customers daily, we remain committed to expanding access to affordable groceries, supporting our communities, and fostering a thriving workplace for our employees.”said Hassan Heikal, Founder and Executive Chairman of Kazyon. 

Kazyon

Who are they? Established in 2014. Kazyon Egypt is one of the country’s largest discount retailers with more than 1,000 grocery retail stores and five distribution centers across 22 governorates.

Meanwhile, Kayzon Morocco established in 2023 operates more than 150 discount retail stores and a single distribution center.

All in all, the operation aims to provide a wide range of groceries at an affordable price for low-to-middle-income consumers particularly in underserved regions.

Moroccan Expansion The expansion aims to support the development of a modern retail sector value chain in Morocco. Furthermore, It aligns with IFC’s retail investment strategy in Africa, focusing on improving food safety for those in need.

“Kazyon’s expansion will not only strengthen Morocco’s modern discount retail sector but also plays a crucial role in making nutritious food more accessible to families,” said Cheick-Oumar Sylla, IFC’s Director for North Africa and the Horn of Africa.