An Africa-focused private investment firm, Development Partners International (DPI), has announced a $165 million equity investment in Kazyon Ltd., with co-investors including British International
Hassan Heikal, Chairman and Founder of Kazyon Ltd disclosed this in a press release on Monday.
As the company strives to accelerate its expansion plan across Africa, the investment prepares the company for future growth and indicates sustained trust in the Egyptian retail sector.
DPI claims it will assist Kazyon in advancing the rollout of its stores throughout Egypt and entering new areas as part of its ambitious expansion strategy.
“I’m proud of what Kazyon achieved over the last few years.
This investment solidifies our position as the leading grocery retailer in Egypt and could not have happened without the trust of millions of customers that we serve regularly, and the dedication of the thousands of employees led by a very capable management team,” commented Heikal.
In order to help the company on its path to becoming more sustainable and institutionalized for future growth, Kazyon will also take advantage of DPI’s unique experience in ESG and Impact.