Raya Holding to expand Egypt’s investments to EGP 150m in five years

Raya Holding for Financial Investment is planning to increase investments in Egypt to EGP 150 million over the coming five years, according to a statement released on Thursday.

The company signed a franchise agreement with Australian food and beverages brand Jones the Grocer.

Raya Holding announced that it is planning to open six branches for the brand with total investments of EGP 60 million, including two branches in 6th of October City and New Cairo.

It is worth noting that Raya Holding suffered net losses of EGP 58.16 million in the nine-month period ended 30 September, against net profits of EGP 58.6 million in the corresponding period of 2018, including minority shareholders’ rights.