Egyptian Kazyon invests $144 million in Morocco

Following its great success, the Egyptian Kazyon intends to invest $144 million to expand its operations in Morocco over the next four years.

According to CEO of Kazyon, Mohamed Ben Mazoura, the company, which operates a chain of cheap stores in Saudi Arabia and Egypt, plans to invest $144 million to expand its operations in Morocco over the next four years.

According to Asharq newspaper on Friday, Kazyon Group is the largest in its industry in the Arab world and Africa in terms of the number of branches, with 1,300 stores across the three countries.

In Morocco, after one year of starting operations, it now operates 120 outlets and plans to launch more than 150 more in the following year.

Kazyon faces fierce competition in the small retail sector in Morocco, especially from the Turkish company BIM, which was founded 15 years ago. However, the Egyptian company plans to outdo its competitor in terms of speed of expansion in order to gain a larger share of the market.

With a paid-up capital of $250 million to date, Kazyon was established in Egypt in 2014. The company’s capital is shared by Saudi, Qatari, Egyptian and British investment funds, in addition to its founder Hassan Heikal.

According to data from the Ministry of Industry and Trade, small grocery stores dominate the local trade sector in Morocco and serve as a primary means of distributing consumer goods. After the agricultural industry, the sector has the second highest employment rate.

According to the CEO, the Egyptian company that owns the famous Kazyon Market brand plans to open stores in all major cities in Morocco, cooperate with regional manufacturers and suppliers, and increase the number of wholesale purchases in order to increase its market share. It also hopes to control operating expenses.