Danone is looking to invest EGP 1 bn in Egypt over the next five years, which would double the company’s total investments in the country, CEO Haitham Sadek tells Al Borsa. The company is looking to add new production lines and upgrade existing ones, as well as ramping up exports to Africa in order to capitalize on Egypt’s increased support for exporters to the rest of the continent, Sadek said.

The planned investment comes on the back of the company’s most successful year in over five years, which Sadek credits to the company sourcing 70% of its raw materials from local manufacturers. That’s helped the Paris-listed multinational food company sidestep the supply chain and shipping bottlenecks that have been a hallmark of 2021.

OTHER INVESTMENT NEWS-

Alfa Ceramic is investing EGP 600 mn to add three new production lines and increase exports to African countries, Chairman Wagih Besada tells Al Borsa. The ceramics manufacturer aims to upgrade its current lines of production and ramp up production by 50% and wants to ramp up its exports by 30-50% to countries including Nigeria, Mauritania, Niger, South Africa, Tanzania and Kenya. It is unclear whether the investment will be made next year or in two phases over 2022 and 2023, as the story gives contracticting timelines.

ALSO- Fruit and juice company Allord plans to invest USD 15 mn next year to add new lines of production, purchasing manager Gamal Hashem tells Al Borsa. The company plans to ramp up production and increase exports to Gulf countries including Saudi Arabia, Kuwait, and Jordan, as well as Europe and the US.