Egypt's Capiter eyes $1bln in revenues by 2023

Egypt - Capiter, the e-commerce platform specializing in the field of fast-moving consumer goods (FMCG) and foodstuffs, eyes achieving revenues of $1 billion by 2023, Daily News reported on July 27^th.

This comes as part of the company’s ambitious plan to multiply the volume of its business tenfold, after achieving fruitful results during 2020 despite the novel coronavirus pandemic crisis.

The platform presents a new concept for the Egyptian market in retail trade, by serving as a link between consumer goods makers, major companies, and wholesalers in the field of retail trade.

This takes place through three different applications, interspersed with multiple features that help the merchant to create a comprehensive knowledge of the food market in Egypt. The knowledge gained helps the merchant develop their project and increase the volume of work.

“Capiter seeks to create more opportunities and encourage the labour market in Egypt,” Mahmoud Nouh, Co-Founder and CEO of Capiter, said.

This would take place through bringing the best talents from around the world or by giving the opportunity and betting on new talents and recent graduates to benefit from the tremendous growth witnessed by the e-commerce sector.

This comes particularly with Egypt’s efforts to support digital transformation in all fields.

Nouh added that Capiter now offers its services in Cairo and Giza, with the aim of expanding in Egypt to include more governorates.

This will also see the company expand the list of products available through the platform to more than 30,000 products of various foodstuffs and groceries by 2023.

Founded in 2019, Capiter is a B2B marketplace that brings FMCGs, wholesalers & merchants to the same platform, enabling merchants to order their products through the e-commerce platform and receive credit facilities