Monginis to open second factory in 2Q2021

Sweetmaker Monginis is planning to inaugurate its planned EGP 100 mn factory in Sadat City in 2Q2021, Business Development Director Osama Soliman said. The company had been planning to open the factory — its second in Egypt — by the end of the year or in early January, after sales recovered 70% from lows seen during the height of the pandemic earlier in the year. The Indian company is also planning to invest EGP 200 mn to double its branches to 200 by 2022, Soliman said last week.