INVESTMENT WATCH- Edita lands loan worth up to USD 30 mn from IFC: Edita has signed an agreement with the International Finance Corporation (IFC) for a seven-year facility that could be worth up to USD 30 mn, according to a statement (pdf). The company will initially receive USD 20 mn as a first tranche, but has the option to call a further USD 10 mn. The funds will be used to support “expansion and growth opportunities” in Egypt and the wider region. “We are proud to be joining hands with the IFC,” Hani Berzi, chairman and MD of Edita, said. “Its financing is not just cost-effective, but an endorsement of our robust corporate and industry fundamentals, coming as it does at the end of a nearly year-long due diligence process. We are actively exploring expansion opportunities both in Egypt and in our exciting expansion markets.”

The news comes as Edita pushes ahead with its drive into Morocco, where it has already launched its Freska wafers brand and is due to break ground later this year on its first Moroccan manufacturing facility.