Egypt’s Franchise feeding industries hit $5 bln

The feeding industries firms operating in Egypt’s franchise sector have injected 90 billion Egyptian pound ($5.02 billion) worth of direct investments, Moataz Al Alfi, the founder of the Egyptian Franchise Development Association, said on Saturday.

He added on the side lines of The 16th Middle East and North Africa International Franchising and Licensing Exhibition and Conference (MIFE 2018) kicked off on Nov.17 to last for three days. Around 38,000 brands from multiple countries are participating in the event.

The volume of investments in the Egyptian franchise sector has reached 80 billion pounds, providing about 900,000 and 1.2 million direct and indirect jobs, respectively, with annual sales of 14 billion pounds, Alfi said at the International Franchise Exhibition.

There are about 800 franchise chains operating in Egypt, whereby 55 percent representing foreign brands, and 45 percent representing domestic brands with 60,000 outlets, the Egyptian official said.