Nestlé to invest EGP 1 bn in Egypt in the next five years

INVESTMENT WATCH- Nestlé is planning to invest about EGP 1 bn in Egypt in the next five years, Nestlé North Africa CEO Moataz El Hout said, according to reports in the local press. The company has seen sales growth of more than 25% in 2018 and expects growth of over 20% to continue this year across all lines of business, El Hout said. Nestlé inaugurated last week a EGP 250 mn factory for its coffee brand Bonjorno, which the Swiss food giant plans to position as an export hub for the region.