The discount food retail sector in Morocco is set for a significant boost with the support of the International Finance Corporation (IFC), part of the World Bank Group. On March 11, the IFC announced a $30 million loan to Egyptian retailer Kazyon to fuel its expansion in Morocco. This investment aims to improve access to quality food while creating thousands of jobs, particularly for young people and women in rural areas.
With this funding, Kazyon plans to expand its store network and enhance its warehousing and storage capacity across the country. The company’s ambitious goal is to generate over 3,000 direct jobs, further solidifying its footprint in the Moroccan market.
Founded in 2014, Kazyon has grown into Egypt’s largest discount food retailer, operating more than 1,000 stores and five distribution centers across 22 governorates. Since entering Morocco in 2023, the company has already established over 150 discount supermarkets and a distribution center, offering a wide range of affordable products aimed at low- and middle-income households, particularly in remote areas.
This partnership with the IFC aligns with broader efforts to modernize Morocco’s retail supply chain. It also supports the IFC’s investment strategy in Africa, which focuses on enhancing food security and ensuring vulnerable populations have access to essential goods.
Hassan Heikal, founder and executive chairman of Kazyon, welcomed the IFC’s backing, emphasizing the positive impact of the company’s expansion on food accessibility and regional economic development. He highlighted Kazyon’s commitment to serving more than half a million customers daily while fostering a supportive work environment for employees.
Cheick-Oumar Sylla, IFC’s director for North Africa and the Horn of Africa, stated that this investment would energize Morocco’s discount retail sector while improving food access for families. He also underscored the broader significance of Kazyon’s expansion in strengthening economic ties between emerging economies.
Beyond its economic impact, the project carries a strong social dimension. The IFC will support Kazyon in implementing a gender-equal hiring and promotion framework, encouraging female employment. The company will also receive assistance in structuring its environmental and social practices to meet international standards.
This initiative aligns with the Morocco-World Bank Group cooperation framework for 2019-2025, which aims to enhance private sector employment and human capital development. It also fits within the World Bank’s 2024-2030 gender strategy, which seeks to accelerate gender equality for sustainable and inclusive growth.
With $2.9 billion invested in Egypt and $1.6 billion in Morocco over the past three years, the IFC continues to play a crucial role in supporting strategic investments across Africa. This latest funding for Kazyon Morocco represents a major step forward in modernizing the country’s retail sector and fostering inclusive economic growth.
