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McDonald’s aims to inject EGP 120m annual investments up to 2020 - Daily News Egypt

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McDonald’s aims to inject EGP 120m annual investments up to 2020

Company achieved EGP 950m in sales last years, targets 7% annual increase


McDonald’s Egypt group, affiliated with the international company Manfoods, aims to invest about EGP 480m, at a rate of EGP 120m annually until 2020, according to general manager at McDonald’s Egypt Alaa Fathy.

Fathy told Daily News Egypt that his company targets 7% annual growth in its sales. The company achieved sales of EGP 950bn in 2015.

McDonald’s Egypt is investing EGP 1bn since the beginning of 2013 until 2020, which is directed towards modernising its existing branches.

“We aim to expand to 170 branches by 2020, and this number is subject to increase,” Fathy said. These new branches will be distributed across a large number of governorates where there are no McDonald’s branches.

McDonald’s branches are mostly concentrated in the governorates of Cairo, Alexandria, Aswan, Luxor, the Red Sea, Port Said, and Sharm El-Sheikh.

The company has allocated a large budget for the company’s development and training of its labour force. The implementation of this budget is expected to begin in 2017.

The group plans to double the number of direct labour up to 4,500 labourers by 2020, in addition to doubling the number of suppliers to restaurants.

It depends on local suppliers in meeting 85% of their needs and the rest are met through importing from abroad, Fathy revealed. He added that the group invested about EGP 75m in 2015.

McDonald’s serves about 60,000 customers daily, and provides an estimated 10,000 indirect jobs.

Fathy added that the future of the restaurants and the food industry in Egypt is very promising, especially in light of the high consumer intensity in a market of 90 million citizens.

 

 

 

Topics: investments

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https://ww.dailynewssegypt.com/2016/05/25/mcdonalds-aims-to-inject-egp-120m-annual-investments-up-to-2020/
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