Nestlé Egypt to increase exports by 30% to EGP 1 bn, to invest EGP 250 mn in 2017

Nestlé Egypt is looking to increase its exports 30% y-o-y to EGP 1 bn in 2017 and is planning to invest EGP 250 mn in 2017, CEO Yasser Abdul Malak told Daily News Egypt. “Nestlé Egypt intends to inject EGP 1 bn of new investments over the next five years to increase domestic production; most notably Nescafé and chocolate,” he told the newspaper. The company is expanding with further exports in Africa and Abdul Malak notes that 40% of the company’s exports go to Libya and other major export markets include Lebanon, Jordan, UAE, and Saudi Arabia.