Canada’s Second Cup to invest USD 20 mn in Egypt in the next five years

INVESTMENT WATCH- Canada’s Second Cup Coffee Company is planning to invest USD 20 mn in Egypt over the coming five years as it rolls out a national footprint, said Yahya Ghamdan, who heads the company’s local franchisee, at the opening of its store in Cairo Festival City. The company is planning to open five stores in Egypt this year, with an eye to opening 50 stores nationwide by 2020, said Ghamdan. Second Cup CEO Jim Ragas attended the opening and said that its investment in Egypt was part of its plan to grow its presence internationally.