The International Finance Corporation (IFC) is expanding its partnership with Kazyon Group to support the development of Morocco's discount grocery retail sector. This initiative aims to improve access to quality food and create tens of thousands of jobs, particularly for young people and women in rural areas. IFC's $30m loan to Kazyon will enable the company to scale up its operations in Morocco by increasing its retail stores, warehousing, and storage capacity. The expansion is expected to generate over 3,000 direct jobs. Founded in 2014, Kazyon Egypt has grown into the country's largest discount grocery retailer, operating more than 1,000 stores and five distribution centers across 22 governorates. In 2023, the company expanded into Morocco, where it currently operates over 150 discount retail stores and a single distribution center, offering affordable groceries to low- and middle-income consumers, particularly in underserved regions. This project supports the development of a modern retail sector value chain in Morocco, aligning with IFC's investment strategy in Africa's retail sector. It is expected to enhance food safety and improve access to essential goods for those most in need. "This loan reinforces our position as the largest homegrown African and Arab grocery discounter, with a presence spanning from Morocco to Saudi Arabia," said Hassan Heikal, Founder and Executive Chairperson of Kazyon. "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." "Access to quality, affordable essential commodities is vital 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 play a crucial role in making nutritious food more accessible to families. This South-South investment demonstrates how private sector growth across borders can drive shared prosperity and strengthen regional economic ties." As part of the partnership, IFC will support Kazyon's efforts to promote gender equality by integrating inclusive hiring and promotion practices. IFC will also assist Kazyon Morocco in developing comprehensive environmental and social management systems in line with its global standards. The project aligns with the World Bank Group's (WBG) Country Partnership Framework for Morocco (FY19–25), which aims to support private sector job creation and human capital development. It is also consistent with the WBG Gender Strategy 2024–2030, which focuses on accelerating gender equality for a more sustainable, resilient, and inclusive future. Over the past three years, IFC has committed and mobilized $2.9bn in Egypt and $1.6bn in Morocco to foster sustainable, resilient, and inclusive private sector development.
