Edita considers $30M loan from IFC to support its capital expenditure requirements
Updated 8/2/2023 8:43:00 AM
Arab Finance: The International Finance Corporation (IFC) is considering loaning Edita Food Industries (EFID) up to $30 million to fund its new capital expenditure, the IFC stated on July 31st.
The $30 million loan would mobilize up to $15 million to Edita Food Industries, Edita Participation Cyprus, and Edita Trade and Distribution to fund the group's capex needs in Egypt and Morocco, working capital needs, and potential expansion in Africa and the Middle East.
The IFC’s board will meet on August 31st to discuss the loan.
In June, Edita announced that it is planning to invest EGP 800 million this year.
Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market that operates within the manufacturing, marketing, and distribution of a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.
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