INVESTMENT WATCH- Kellogg Company announces EGP 3.6 bn in new Investments in Egypt: Cereal and snack maker Kellogg Company earmarked EGP 3.6 bn for investment in Egypt “towards it’s next chapter,” the firm said in a statement (pdf). The statement, which was made during the celebrations of its five-year anniversary since coming to Egypt, provided no detail on the nature or timeline for the investments. A statement from the Madbouly Cabinet said only the investment would fund expansion.

Egypt a key EM player for Kellogg: The company’s sales volumes in emerging markets rose almost 80% in 2017 compared to the previous five years, with the acquisition of Egypt’s Bisco Misr and Mass Food significantly contributing to this growth, said CEO Steven Cahillane. Kellogg has also launched EGP 180 mn noodles factory on a joint venture with Tolaram Group. The company first entered the Egyptian market in 2015 by acquiring Bisco Misr and then Mass Food, the maker of Temmy’s cereal and NutriFit brands. Kellogg says it has invested some EGP 7.2 bn in Egypt to date.