Engaged in an expansion strategy in the region, the Egyptian group Edita Food Industries has just received significant financial support that will allow it, among other things, to build its plant in Morocco.
The Egyptian leader of snacking, Edita Food Industries, will be able to concretize his ambitions in the Kingdom. Engaged in an expansion strategy in the region, the Egyptian group, which signed a partnership with Dislog a few months ago, has just received a major support for its development both in Egypt and internationally.
This is, in fact, a financial support of about 20 million dollars (about MAD 200 million) granted by the IFC (International Finance Corporation), member of the World Bank Group. Note that this envelope aims to support the operations of the Egyptian group, its investments abroad, especially in Morocco, and also create new jobs with high added value.
In detail, the financing will enable Edita Food Industries to set up a new production site in Morocco, in partnership with the Dislog group (H&S Invest Holding), chaired by Moncef Belkhayat. This is concretely to build a factory in Ecoparc, the industrial park of the French Chamber of Commerce and Industry of Morocco (CFCIM) in Berrechid.
“This project will create hundreds of jobs and contribute to the development and training of the national workforce,” said Moncef Belkhayat. For his part, IFC Maghreb Director Xavier Reille noted that this financial support is part of IFC’s strategy to strengthen South-South partnerships between investors. “This funding will also strengthen economic ties between Egypt and Morocco and stimulate job creation in both countries,” he added.
Note that the amount of production of the new production site of Edita Food in Morocco is estimated at MAD 100 million. This plant will be used to produce, distribute and market several brands of biscuits to 60,000 traditional customers in the Kingdom, and should also allow the creation of 250 new jobs in Casablanca. Founded in 1996, Edita Food Industries specializes in the manufacture, marketing and distribution of several snack product ranges in North Africa.