Unilever Mashreq’s Marketing Director has revealed that the company has invested heavily in infrastructure in Egypt over the last three years, according to a report published by Mena FN.
Sherine Abdel Moneim estimated total spend since 2016 at EGP500 million, as the company upped production capacity and cut the ribbon on a new factory and production lines.
Unilever Mashreq is aiming to double export from its Egyptian hub – it currently exports 50 percent of the personal and home care products it produces in the country.
Moneim also revealed that the Egyptian consumer spend is on the rise, following a dip caused by the country’s currency flotation, which caused prices to rise.
“Six months from the flotation, we started to see an improvement and people began to adapt to the new situation. We also started to witness a growth in the market similar to what it was before the flotation, especially in the second half of 2018,” Moneim told Mena FN.