Spinneys sets up shop in Obour: Supermarket chain Spinneys Egypt yesterday inaugurated a new store in Obour, marking its first venture in the governorate of Qalyubia, the company said in a statement (pdf). The new EGP 50 mn supermarket “reflects our ongoing commitment to the Egyptian market in spite of the macroeconomic headwinds,” our friend Mohanad Adly (LinkedIn), the company’s CEO, told Enterprise.

Spinneys is on an expansion drive: The retailer expects to deploy an additional EGP 270 mn to open up seven more branches across the country before the end of the fiscal year in June. In the medium-term, Spinneys plans to open eight new branches every year over the next two years, Adly told us, adding that the company has stepped up its original plan of opening up five new stores per year.

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