IFC and Kazyon Strengthen Partnership to Boost Morocco’s Food Retail Sector, Create Jobs

IFC is extending its partnership with Kazyon Group to support the development and expansion of Morocco’s discount grocery retail sector, improving access to quality food and creating tens of thousands of jobs, especially for young people and women in rural areas across the country.

IFC’s $30 million loan to Kazyon will help the company expand its operations in Morocco, increasing its retail stores, warehousing, and storage capacity. The expansion plan is expected to create more than 3,000 direct jobs.

Established in 2014, Kazyon Egypt has become the country’s largest discount grocery retailer with more than 1,000 grocery retail stores and five distribution centers across 22 governorates. Kazyon Morocco, established in 2023, currently operates more than 150 discount retail stores and a single distribution center in Morocco, providing a wide range of groceries at affordable prices for low-to-middle-income consumers, particularly in underserved regions.

This project will support the development of a modern retail sector value chain in Morocco – in line with IFC’s investment strategy in the retail sector in Africa – which will contribute to greater food safety for those most in need.

“We are proud to deepen our long-standing partnership with IFC, among other world-class financial institutions” said Hassan Heikal, Founder and Executive Chairman of Kazyon. “This loan reinforces our position as the largest homegrown African and Arab grocery discounter, with a presence spanning from Morocco to Saudi Arabia. Serving over half a million customers daily, we remain committed to expanding access to affordable groceries, supporting our communities, and fostering a thriving workplace for our employees.”

[p”Access to quality, affordable essential commodities is essential for ensuring food security and improving livelihoods” said Cheick-Oumar Sylla, IFC’s Director for North Africa and the Horn of Africa. “Kazyon’s expansion will not only strengthen Morocco’s modern discount retail sector but also plays a crucial role in making nutritious food more accessible to families. This South-South investment demonstrates how private sector development across borders can foster shared prosperity and strengthen regional economic ties”[/p]

IFC will support Kazyon’s strategy to empower employment opportunities for women by integrating gender equality into its recruitment and promotion framework. IFC will also help Kazyon Morocco develop comprehensive environmental and social management systems and procedures in line with IFC’s standards.

The project is aligned with the World Bank Group (WBG) Country Partnership Framework for Morocco for FY19–25, which seeks to support more and better private sector jobs and develop human capital. It also aligns with the WBG Gender Strategy 2024–2030, aimed at accelerating gender equality for a more sustainable, resilient, and inclusive future.

Over the past three years, IFC has committed and mobilized $2.9 billion in Egypt and $1.6 billion in Morocco to support sustainable, resilient, inclusive private sector development.

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

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About Kazyon

Founded in 2014 by Hassan Heikal, Kazyon is the largest discount retailer in the Arab world and Africa currently operating over 1,500 stores and employing more than 9,000 colleagues. Kazyon has been steadily increasing its store footprint in recent years, supported by its proprietary end-to-end logistics capabilities that fully integrate its distribution centers, fleet of transport vehicles and stores.

Kazyon provides millions of customers access to affordable, high-quality products, delivered through a network of consistent, recognizable neighborhood stores and currently has one of the largest loyalty schemes in the Arab world and Africa.