Galina-Agrofreeze proposes EGP 1.2 bn plan in setting up retail franchises

Galina-Agrofreeze Fruits & Vegetables has submitted preliminary studies to the government to propose setting up discount retail outlets across the country, company Chairman Abdel Wahed Soliman said. The proposal would invite partners to own a franchised food store each under the company’s brand. The store will offer low-price merchandise by cutting the middleman, since the outlets’ will be fitted with products straight from Galina-Agrofreeze’s factories. The authorities and the company are set to hold a meeting in the coming period to further discuss the proposal. Funding for the plan, which would cost EGP 1.2 bn, will partially come through the SME Authority’s loan program, which offers retailers loans at 5% interest.