Back to the complete issue
Thursday, 11 August 2016

B-Tech working on increasing capital to EGP 400 mn, eyeing expansions by 2020

Appliances retailer B-Tech is preparing to increase its issued capital to EGP 400 mn from EGP 88 mn, Chairman Mahmoud Khattab told Al Mal. UK private equity group Development Partners International (DPI) had acquired a third of B-Tech’s shares for USD 35 mn in July. Khattab said there’s no point to listing on the EGX at the moment, but B-Tech will focus on expanding into Upper Egypt as it looks to grow its branch network. The aim is to have a 12-15% market share and expand to 102 branches by 2020, from 67 currently, while also looking at international expansion, potentially through franchising. Khattab says B-Tech expects to record sales of EGP 2.2 bn in 2016, up from EGP 1.6 bn last year.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.