FMO signs investment in Egyptian retail chain

Dutch development finance institution FMO has signed a $25 million equity participation in Egyptian hard-discount supermarket chain Kazyon.

The company is the largest discount grocery retailer in Egypt with over 3,500 employees, four distribution centres, and 648 stores as of February 2023.

For this investment, FMO partnered with fund manager DPI and other investors like BII, IFC, South Suez, and Sango Capital.