Monginis to invest EGP 200 mn over the next two years to expand their presence nationwide

Sweets maker Monginis is planning to invest EGP 200 mn to double their number of stores to 200 by 2022, Business Development Director Osama Soliman told Amwal Al Ghad. Monginis is currently mulling opening seasonal stores in tourism cities such as Hurghada, Ain Sokhna, and Sharm El Sheikh. The company is building a new factory in Sadat City to increase their production capacity and support their expansion with the factory set to begin operating by the end of 2021. Monginis was hard hit during the first wave of the pandemic, losing 70% of their overall sales, but has since recovered 80% of their pre-covid levels.