ArabFinance: Edita Food Industries (EFID) announced that its subsidiary Edita Food Industries Morocco obtained a MAD 80,000,000 (EGP 133,233,563) loan from Arab Bank-Morocco over a duration of seven years, according to June 29th statement filed to the Egyptian Exchange.

The loan shall be used to finance the construction of the factory and to purchase the machinery and equipment forming the production lines.

In May, Edita Food Industries launched its new brand, Oniro, marking the company's entrance into Egypt biscuits market capitalizing on the fast-growing Egyptian biscuits market with an estimated size of EGP 4.6 billion.

Edita is an Egypt-based company that operates in the packaged snack food market. It manufactures, markets, and distributes a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.

 

At the press time, the conversion rate is Moroccan Dirham (MAD) 1 = EGP 1.67

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