McDonald’s to invest EGP 250 mln in Egypt in 2021
Fast food giant McDonald’s Egypt franchise, McDonald’s Manfoods Egypt, plans to invest 250 million Egyptian pounds ($16 million) in Egypt next year, its general manager said on Tuesday.
Alaa Fathi told Amwal Al Ghad that the investments would be part of McDonald’s expansion strategy to open new branches in Cairo, Alexandria, as well as Nile Delta and Upper Egypt cities.
“The company plans to open 12 new branches by next year.” Fathi said.
There are 134 McDonald’s branches across Egypt, he added, saying that McDonald’s Manfoods Egypt intends to inaugurate a new branch before the end of 2020.
Despite the coronavirus pandemic crisis, McDonald’s Manfoods Egypt has managed to invest around 200 million pounds this year, designed to open 10 branches across the country, Fathi said.