– Kazyon Group plans to invest $144 million in Morocco over the next four years, expanding its discount store operations.

– The company currently operates 1,300 stores across Egypt, Saudi Arabia, and Morocco, with plans to add over 150 stores in Morocco next year.

– Kazyon aims to outpace Turkish competitor BIM Group in Morocco’s small retail market by focusing on rapid expansion.

Kazyon Group, a discount store chain operating in Egypt and Saudi Arabia, plans to invest $144 million to expand its operations in Morocco over the next four years, according to Mohamed Benmzoura, the company’s CEO in Morocco, in an interview with Asharq news website.

Kazyon currently operates 1,300 stores across Egypt, Saudi Arabia, and Morocco, making it the largest in the region by number of branches. In Morocco, where it launched just a year ago, the company already has 120 stores and plans to open over 150 more next year.

In Morocco’s small retail market, Kazyon faces competition from Turkish retailer BIM Group, which has been active in the country for 15 years. However, Kazyon aims to grow faster than its competitor and capture more market share.

Founded in Egypt in 2014, Kazyon started with a paid-up capital of $250 million, backed by founder Hassan Heikal and investors from Qatar, Saudi Arabia, and various investment funds from Egypt and the UK.

In Morocco, small grocery stores dominate the retail market, serving as the main channel for distributing consumer goods. Kazyon plans to increase its market share by opening stores in all major cities and partnering with local producers and suppliers. The company also aims to cut costs by boosting wholesale purchases, helping it compete more effectively.

Last February, Kazyon acquired a 50% stake in Dukan, a convenience retail grocery company based in Saudi Arabia.