As stated on the project disclosure page, the FMO by contributing to a consortium led by FMO's partner DPI supports the further domestic growth trajectory of the Company and its international expansion with growth capital. Part of the consortium's funds will be earmarked to acquire shares from smaller shareholders seeking an exit. FMO invests via ADP III Holdings 5 LP, which is an investment vehicle led by DPI and holds the consortium's stake in Kazyon.
Kazyon as a retail discounter sells products ranging from dry and fresh food products to household essentials. Kazyon reaches the low-income consumers with average grocery basket of a few dollars and growth of Kazyon and the hard-discount retail sector overall can improve access to cheaper basic goods for a larger part of the population.
The FMO categorized the project as B+.
As stated by the FMO, founded in 2014, Kazyon is a discount grocery retailer in Egypt with over 5,000 employees, 4 distribution centres, and over 600 stores spread across 18 governorates as of April 2023. Kazyon is offering a wide range of fast-moving consumer goods such as packaged foods, beverages, toiletries, dry goods and other consumables.
As stated on the company's website, DPI is among Africa’s leading investment institutions.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
|Development Partners International (DPI)
|Industry and Trade
Financial Intermediary - Development Partners International:
Client - Kazyon:
Address: Yamama center, 3 Taha Hussein, Mohammed Mazhar, Zamalek, Cairo Governorate 11561, Egypt
ACCESS TO INFORMATION
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ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism