{"id":652471,"date":"2017-01-10T03:59:40","date_gmt":"2017-01-10T03:59:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/10\/hani-berzi-chairman-and-ceo-edita\/"},"modified":"2017-01-10T03:59:40","modified_gmt":"2017-01-10T03:59:40","slug":"hani-berzi-chairman-and-ceo-edita","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/10\/hani-berzi-chairman-and-ceo-edita\/","title":{"rendered":"Hani Berzi, Chairman and CEO, Edita"},"content":{"rendered":"

<\/a> You know a company and its brands have enduring credibility with consumers when the only CEO our resident nine-year-old knows is \u201cthe man who makes Todo Bombs. They\u2019re the best \u2014 when you let me have one.\u201d Hani Berzi began his career in 1986 at his family\u2019s snack food business before going on to create Edita, which he\u2019s transformed into a publicly traded corporation that is both Egypt\u2019s largest snack food maker and a burgeoning exporter. Berzi is a man who knows his numbers, but we were most impressed by his laser focus on strategy and blunt assessment of strengths and weaknesses across the economy, including his own organization\u2019s. Edited excerpts from our conversation:<\/p>\n

2017 will be the year of unpredictability, the year of surprises.<\/strong> Those surprises could be good, they could be bad, but one thing is certain: There will be little predictability.<\/p>\n

The biggest challenge for the economy<\/strong> will be how to redress our trade imbalance \u2014 that and the availability of foreign exchange. I\u2019m particularly concerned about the measures the government could take to redress the trade deficit and the impact on our trade agreements, whether those are free-trade agreements or the WTO. We always have a window in which to protect the market \u2014 that\u2019s provided for under most agreements \u2014 but we can\u2019t let that become a crutch.<\/p>\n

It\u2019s also going to be key for the government to start making progress on overhauling the bureaucracy.<\/strong> Cabinet-level decisions and cabinet\u2019s vision need to cascade downward to lower-level employees in a very heavy bureaucracy.<\/p>\n

The biggest challenges for the food industry come on the regulatory side of the equation.<\/strong> Regulators need to work on how they interact with businesses \u2014 the types of raids we\u2019ve seen on factories, whether from health, supply or the interior ministries, send the wrong message. I\u2019m thinking here of what happened to us with sugar and to Heinz with tomatoes. Yes, there could be some deviation from good manufacturing processes, but good businesses redress these. Your thinking something happened here doesn\u2019t mean you take a business owner directly to the press before an investigation is complete and not think about what that means for that company, for the industry or for our export prospects. Doing this type of thing shoots in the foot every effort we make to grow exports.<\/p>\n

Our country has more than 90 mn citizens, and our population is growing at a rate of 1.6-2.0% per year.<\/strong> It\u2019s an amazing market, and it\u2019s particularly fertile ground for the snack food industry as eating habits change. We\u2019re also going to find opportunities in the trade barriers \u2014 tariff and non-tariff \u2014 the government is implementing to slow down imports. The playground will be empty of suppliers, giving local companies the opportunity to substitute for imports.<\/p>\n

We\u2019re going after this opportunity by investing in <\/strong>improvements to our manufacturing process, improving product delivery. We\u2019re continuously working on new products \u2014 we\u2019re spending more on R&D to come up with new, non-traditional products that offer good value for money so we capture a bigger share of wallet. The opportunities we have today won\u2019t come free of charge. <\/strong>Consumers are going to be very selective with post-float inflation. They won\u2019t buy simply because something is cheap; they\u2019ll direct their disposable income to things of quality.<\/p>\n

We\u2019re definitely still in investment mode this year. <\/strong>The opportunity is just too significant \u2014 we can feel it. We like to invest when others are afraid to move. We did that in 2011, and we\u2019ve reaped the benefits since. We\u2019ll be investing EGP 350-400 mn in 2017. Our biggest outlay is in Sixth of October, where we\u2019re hoping to finish construction in 2Q2017 of what will be our largest factory.<\/p>\n

The minimum raise any employer should go with in 2017 is 20%<\/strong>, and we\u2019ll do anything we need to do to ensure that lower income employees get up to 30%. We\u2019ll do tiered raises across our employee base, and blue collar labor will be the biggest beneficiaries in percentage terms. We think CSR starts by paying a living wage, regardless of what that means when your P&L is under external pressure.<\/p>\n

What sector will do best in 2017?<\/strong> Food. Certainly food. Egyptians love to eat, and the fundamentals dictate that there are more and more Egyptians every year.<\/p>\n

What sector will fare worst?<\/strong> Real estate, in my personal opinion. And when real estate goes into recession, the whole country goes into recession. This is why I said the year will be highly unpredictable.<\/p>\n

We haven\u2019t seen much M&A opportunity in recent years because people were doing well. <\/strong>You don\u2019t typically think of selling when growth is high. It\u2019s a very different environment now. We\u2019ll see lots of opportunity in the market, and we\u2019ll also see companies in a variety of sectors going out of business. The cost of investment is horrendous. You won\u2019t see many players able to afford EGP 400 mn or EGP 500 mn in capital expenditure to support growth \u2014 and that\u2019s modest capex at today\u2019s exchange rate. So yes, we definitely have our eye on M&A targets.<\/p>\n

Plenty of business owners have looked at the successes of IPOs in the past two years and think they should go. <\/strong>So there\u2019s no question 2017 will have an IPO pipeline of maybe three to four this year. The question is whether they\u2019re really IPOable \u2014 whether they have what it takes to be a listed company.<\/p>\n

If I had to start a new business today, I would invest in education. Not higher education, but vocational education and vocational training. <\/strong>We\u2019re all struggling with the difficulty of finding skilled labor, whether that\u2019s electricians or pipefitters, plumbers or cooks. All of these people learn through on-the-job experience, and there\u2019s no single credential. Vocational training is key, and all of the big funds investing in education \u2014 Actis, Abraaj \u2014 nobody is looking at vocational training.<\/p>\n

Exports are life and death for Egypt. <\/strong>Non-petroleum exports are the biggest provider of foreign currency to the Egyptian government, and cabinet knows very well they need to make this a priority. We need a Higher Council for Exports, just like we now have a Supreme Council for Investment. And please remember: There will be no sustainable export growth without an investment in vocational training. What are we exporting today? USD 17-18 bn? That\u2019s nothing. If we had done what others have done on this front in the past decade or two, we could be doing 30-40x that.<\/p>\n

I\u2019m optimistic about exports \u2014 if Cabinet takes the right steps.<\/strong> It\u2019s not going to be push-button, it\u2019s a whole program. Call it what you want, but we need a strategy, and that starts with having incentives, land, and a trained workforce. It needs to be a national priority.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

You know a company and its brands have enduring credibility with consumers when the only CEO our resident nine-year-old knows is \u201cthe man who makes Todo Bombs. They\u2019re the best \u2014 when you let me have one.\u201d Hani Berzi began his career in 1986 at his family\u2019s snack food business before going on to create […]<\/p>\n","protected":false},"author":1,"featured_media":652472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12058],"tags":[72,12057],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-652471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-2017-enterprise-ceo-poll","tag-enterpriseam","tag-the-2017-enterprise-ceo-poll","wpautop","entry"],"acf":{"mongo_id":"2394b9c7-df62-483b-8572-096dea15f1e3","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2017\/1\/805.jpg","photo_position":"above","related_issue":[652450],"teaser":"","voice_url":""},"yoast_head":"\nHani Berzi, Chairman and CEO, Edita - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/01\/10\/hani-berzi-chairman-and-ceo-edita\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hani Berzi, Chairman and CEO, Edita\" \/>\n<meta property=\"og:description\" content=\"You know a company and its brands have enduring credibility with consumers when the only CEO our resident nine-year-old knows is \u201cthe man who makes Todo Bombs. 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Berzi played football, studied engineering, and went into trading for a while, but nothing called to him. Not\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/647.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567436,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/22\/egypts-willy-wonka-sweetens-the-making-it-studio\/","url_meta":{"origin":652471,"position":2},"title":"Egypt\u2019s Willy Wonka sweetens the Making It studio","author":"enterpriseam admin","date":"22 January 2020","format":false,"excerpt":"Egypt\u2019s \u2018Willy Wonka\u2019 is our latest guest on Making It: Hani Berzi, the CEO of Edita, tells us all about the inner workings behind our favorite snack foods. And while there are no oompa loompas running around his factory, his story is one for the books. You can listen to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/672.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568556,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/15\/snackfood-industry-want-vat-act-amendments-scrapped\/","url_meta":{"origin":652471,"position":3},"title":"Snackfood industry want VAT act amendments scrapped","author":"enterpriseam admin","date":"15 November 2020","format":false,"excerpt":"LEGISLATION WATCH- Snackfood industry petitions House not to impose full VAT on sweets: Snackfood makers are lobbying the House Planning and Budgeting Committee to leave VAT on pastries and baked goods unchanged in any upcoming amendments to the VAT Act, CEO of snack food giant Edita Hani Berzi told the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/148.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568384,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/making-it-season-one-a-world-before-covid\/","url_meta":{"origin":652471,"position":4},"title":"Making It Season One: A world before Covid","author":"enterpriseam admin","date":"28 December 2020","format":false,"excerpt":"Remember a world before Covid? In season one of Making It, we spoke to a diverse group of founders and CEOs about what it took to successfully build great businesses in Egypt. These interviews took place shortly before Covid-19, but the stories about building resilient companies throughout devaluation and other\u2026","rel":"","context":"In "Making It"","block_context":{"text":"Making It","link":"https:\/\/enterpriseam.com\/egypt\/making-it\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/463.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604412,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/03\/egypts-edita-food-industries-to-invest-egp-300-350-mn-next-year-to-increase-capacity\/","url_meta":{"origin":652471,"position":5},"title":"Egypt\u2019s Edita Food Industries to invest EGP 300-350 mn next year to increase capacity","author":"enterpriseam admin","date":"3 December 2018","format":false,"excerpt":"Edita is planning to invest EGP 300-350 mn next year to increase production capacity and finance overseas expansion, CEO and Chairman Hani Berzi said, according to Al Mal. We had noted yesterday that market-leading producer of packaged snack foods is targeting a 10% growth in exports over the next two\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/652471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=652471"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/652471\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/652450"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/652472"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=652471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=652471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=652471"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=652471"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=652471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}