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Thursday, 10 January 2019

Manfoods to invest EGP 250 mn in Egypt in 2019

INVESTMENT WATCH- Manfoods to invest EGP 250 mn in Egypt in 2019: Manfoods, which holds the franchise for McDonald’s, is planning to invest EGP 250 mn in Egypt this year to finance its expansion plans in the country, Manfoods Egypt General Manager Alaa Fathy tells Al Mal. The company is planning to set up 13 new McDonald’s branches as part of these expansions, according to Fathy. Manfoods had said in 2017 that it intends to invest EGP 650 mn until 2020 to expand its activities in the country. The company already invested EGP 170 mn of that amount last year.

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