Egyptian Covertina company plans EGP 200 mln investments in mid-2024

Egyptian chocolate maker Covertina company plans to operate its new factory during the second half of 2024 with an investment of 200 million Egyptian pounds ($6.5 million), its chairman Raafat Salam said on Wednesday.

Salem made his remarks to Amwal Al Ghad on the sidelines of the eighth edition of Food Africa 2023, taking place at the Egypt International Exhibition Centre (EIEC) from December 12 to 14.

He also revealed that the company is aiming for 50 percent exports of its production capacity over the next year, explaining that the company aims to enter new markets in Africa such as Kenya, Senegal, and Cameroon.

Covertina was especially popular during the 80s and 90s and even made it into some funny commercials. One of the most popular was the hilarious and slightly cringe-worthy commercial called “Covertina Aala El Arees” (Covertina and the Husband).