Egyptian discount retailer Kazyon attracts $165 mln investment from Int'l consortium

Development Partners International (DPI), an Africa-focused private investment firm, announced on Thursday a $165 million equity investment in Kazyon Ltd., with co-investors including British International Investment (BII), South Suez and others.

The Cairo-based Kazyon, founded in 2014, is a giant discount retailer selling basic food commodities at affordable prices.

The company currently operates over 600 stores in 18 governorates across Egypt.

Under the deal, Kazyon will leverage DPI's expertise in ESG and impact to accelerate its expansion strategy and implement new ESG action plans to become more sustainable and institutionalised for future growth.