EGYPT - French dairy giant Fromageries Bel has announced plans to invest US$3.1 million in its Egyptian operations over the next two years. 

The investment will focus on boosting production capacity at the company's factory in 10th of Ramadan City, located northeast of Cairo. 

The planned expansion will see a 15% increase in the factory's annual production capacity, from the current 40,000 tons to 46,000 tons by 2025. In addition to increasing local production, Bel is aiming to raise its export output by 10%, positioning Egypt as a key hub for its operations in the region.

Partnership with Fawry to provide trade credit for retailers

In a significant development for its retailer network, Bel Egypt has signed an agreement with Egyptian fintech company Fawry. The partnership will provide small retailers with trade credit through Bel’s loyalty program, Enaya. 

Fawry will offer financing to help retailers improve their cash flow, making it easier for them to stock and sell Bel products.

The Enaya program, backed by an allocation of EGP60 million (US$1.25 million), is designed to support 25,000 retailers across Egypt over the next five years. Retailers will have access to trade credit ranging from EGP5,000 to EGP150,000 (US$3,090), enabling them to grow their businesses and strengthen their relationships with Bel.