Breadfast Equity (IFC-52184)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Specific Location
Cairo, Alexandria, Giza and Mansoura
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 30, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Breadfast Inc.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 13.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 13.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 14, 2026

Disclosed by Bank Dec 16, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, IFC is considering an equity investment of up to US$13 million in Breadfast Inc. (“Breadfast” or “Company”), a leading online grocery and quick commerce brand in Egypt. The proposed project aims to accelerate Breadfast’s expansion in the country. 

Breadfast Inc. (“Breadfast” or “Company”) is a leading online grocery and quick commerce brand in Egypt. The Company’s provides an AI-powered, app-based online grocery platform which enables the company to offer and deliver to its customers in under 60 minutes >7,000 quality Stock Keeping Units and to serve >400,000 monthly active users. The platform offers fresh produce, bread and pastries, groceries (including a range of private label products by Breadfast), personal care, own-brand coffee, as well as ready-to-eat meals (salads, sandwiches, hot meals). IFC’s proposed investment is US$13 million in equity shares in Breadfast. The Company operates from leased facilities in urban and industrial areas in Cairo, Alexandria, Giza, and Mansoura, in Egypt. Company facilities include 4 offices, 10 warehouses, 7 production facilities 49 fulfillment points (dark stores), and 35 small coffee selling stalls and shops. The Company outsources its logistics and delivery fleet and relies mainly on third-party vehicles, including delivery associates on motorcycles and cars for last-mile delivery.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Company’s shares are held by its founders — Mostafa Amin, Muhammad Habib, and Abdallah Nofal — alongside leading global institutional investors, venture capital funds, and strategic partners with deep expertise in technology, consumer markets, and emerging economies. The Company is currently raising a pre-Series C round to finance infrastructure development and accelerate growth.  

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Breadfast Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Breadfast Inc
Mostafa Amin
Chief Executive Officer, Co-Founder
esg@breadfast.com
Plot 33 A, North Katameya, Third Settlement, New Cairo, Cairo, Egypt
www.breadfast.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at:https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

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How it works