Egyptian Retailer Kazyon Expands in Morocco with $30 Million IFC Loan

With this financing, Kazyon will open new stores in Morocco and strengthen its supply and storage capacities. This momentum should generate more than 3,000 direct jobs, particularly in rural areas. "This loan strengthens our position as the first African and Arab food discounter, present from Morocco to Saudi Arabia. We remain committed to expanding access to affordable food, supporting our communities and providing a fulfilling work environment for our employees," said Hassan Heikal, founder and executive chairman of Kazyon.

"Access to quality and affordable food is essential for food security and improving living conditions," said Cheick-Oumar Sylla, IFC Director for North Africa and the Horn of Africa, adding that "Kazyon’s expansion will not only help structure the low-cost food retail sector in Morocco, but also make nutritious products more accessible to families. This South-South investment illustrates the role of the private sector in strengthening regional economic ties."

Created in 2014, the Egyptian group has more than 1,000 stores and five distribution centers in 22 governorates in Egypt. In Morocco, where it has been established since 2023, it has more than 150 stores and a distribution center offering food products in remote areas. This IFC financing is part of the 2019-2025 country partnership for Morocco, and the World Bank’s 2024-2030 gender strategy in favor of more sustainable and inclusive growth.