IFC Extends $30M Loan to Kazyon for Morocco Retail Expansion
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Hashim Sheikh - . March 12, 2025
- . Update: March 12, 2025 4:05 pm
Through a $30 million loan from IFC, the company is extending its collaboration with Kazyon Group to develop discount grocery retailing in Morocco. Kazyon will use this investment to expand its business operations in Morocco by building more stores and improving its network of storage facilities throughout the country.
This development will add more than 3,000 permanent positions where Kazyon Group will prioritize hiring young adults and female workers in remote Moroccan communities. Established in 2023 Kazyon Morocco runs 150 discount stores and one distribution center serving low and middle-income customers throughout the country. Kazyon Egypt started in 2014 and now runs the biggest discount grocery store chain across 22 governorates with a network of over 1,000 outlets in Egypt.
Hassan Heikal, the Company Founder, emphasized that this lending deal keeps us at the top spot among African and Arab discount grocery retailers. Cheick-Oumar Sylla from IFC explains the loan will expand the modern discount retail sector in Morocco to also reach more Moroccan families with healthier food options. The World Bank Group runs its Country Partnership Framework and Gender Strategy for Morocco through this project which helps both private sector jobs and equal opportunities for women.
