Edita is in talks with IFC for USD 25 mn to help fund Iraq expansion

The International Finance Corporation (IFC) is weighing a USD 25 mn A-Loan to snackmaker Edita Food Industries to fund its Iraq expansion and local working capital needs, according to a recent IFC project disclosure. If approved by the board, the facility will fund production line expansion, equipment, and property — with the goal of more than doubling capacity at its Baghdad facility and fully commissioning new lines by 2028.

The structure: The loan is structured under IFC’s Expedited Processing for Existing Clients track, with Edita’s subsidiaries — Ahramat Al Nile for General Trade and Food Industries (formerly TJA), Edita Participation Cyprus, and Edita Trade and Distribution — listed as co-borrowers. A portion of the facility will also support working capital needs for Edita’s home operations in Egypt.

REMEMBER- This is part of the regional expansion story we reported on last month. As one of Egypt’s FMCG companies, Edita’s push into Iraq is a hedge against currency devaluations at home. The snackmaker has recently secured domestic debt facilities to fund production-line expansion across Morocco and Iraq, including a seven-year EGP 500 mn loan and an EGP 600 mn facility from Arab Bank Egypt.

A piece of the cloud

Local satellite operator Nilesat is looking to enter the data center market. It applied to the National Telecom Regulatory Authority (NTRA) for a license to establish and operate data centers after receiving board approval in June, Al Mal and Shorouk New report, citing unnamed sources. The company already secured the greenlight from the General Authority for Investment and Freezones in August to formally add data centers to its corporate mandate.

Why it matters: Nilesat’s potential pivot is part of the company’s broader diversification plan announced late last year. Legacy revenue streams — including satellite broadcasting and telecom services — generated flat operating revenues of USD 24.1 mn in 1Q 2026. A move into digital infrastructure would give the satellite operator — of which the largest shareholder is the National Media Authority with a 40% stake — a foothold in a sector the government is actively courting with tax and regulatory incentives.

IN CONTEXT- The CIT Ministry is now drafting a comprehensive national strategy to position the country as a regional hub for data exchange, banking on its position between Africa, Asia, and Europe and its submarine cable network. It’s a tall order, as Egypt currently hosts only 14 data centers — just 5.5% of the region's total — a shortfall we’ve flagged before.

Accor’s ibis Styles heads to Badr City

Accor will open an ibis Styles hotel in Badr City under a partnership agreement inked with CIRA Education’s Badr University in Cairo, according to a press release (pdf). The hotel will consist of 184 rooms, geared towards students, academics, business travelers, and families.