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According to the Bank’s website, the proposed IFC investment is in the form of a financing package of up to US$30 million to Kazyon Retail Sarlau (Kazyon Morocco), with Tawfeer for Food Products (Kazyon Egypt) being a Co-Borrower, to support Kazyon Morocco’s expansion plan which includes the roll out of new stores and Distribution Centers in Morocco. Kazyon Morrocco started operations in 2023 and currently operates one DC and 102 stores as of end of August 2024.
This is a Category B project according to IFC's 2012 Policy on Environment and Social (E&S) Sustainability as the proposed project will have limited adverse E&S impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP). Key E&S risks and issues associated with the project include (a) the company’s management and monitoring systems to identify and mitigate E&S risks and impacts from its activities, including operations in Morocco; (b) fair, safe and healthy labor and working conditions for the workers and contractors including management of occupational health and safety (OHS), (c) management of life and fire safety (LFS) and emergency preparedness.
An 8-year financing package in the form of an A Loan of up to US$30 million to support Kazyon Morocco’s investment program over the next three to five years.
Kazyon Morocco is a wholly owned subsidiary of Kazyon Limited UK (Kazyon), which is also the 100% owner of Kazyon Egypt, the largest grocery retailer in Egypt with more than 7,000 employees, five DCs and 935 stores as of end of August 2024.
The company was founded in 2014 by Mr. Hassan Heikal. Kazyon’s shareholders include: (i) ADP III, a fund managed by Development Partners International (35.5%), (ii) Challender Universal Limited (20.6%) and Supreme Universal Holdings (9.1%), both owned by members of Qatar Royal Family and (iii) HE Partners Limited, owned by Mr. Hassan Heikal (7.9%), (iv) Red Hawk Long Term Investments Limited, owned by EFG Hermes and a charitable foundation in the United Kingdom (8.3%), with the remaining 18.6% ownership held by several institutional and individual investors.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
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- | - | - | - | Kazyon Limited | Client | - |
Kazyon Limited (UK)
Omar Bebars
Chief Financial Officer
+20-1222183654
omar.bebars@kazyon.com
1 Bartholomew Lane, London, EC2N 2AX, United Kingdom
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