Egyptian businessman Hani Berzi has seen the market value of his stake in Edita Food Industries, a growing packaged snack food market in Egypt. In just 20 days, the value of Berzi’s stake soared by an impressive $28 million, fueled by the recent upswing in the company’s share price on the Egyptian Exchange.
According to data tracked by Billionaires.Africa, the market value of Berzi’s stake in Edita Food Industries has increased by EGP870.54 billion ($28.17 million) over the past 20 days, reflecting the growing interest of investors in the Egyptian consumer goods group.
Edita’s ongoing surge enhances founder’s wealth
This latest uptick adds to Berzi’s previous wealth gains, as the market value of his stake in Edita surged from EGP 6.07 billion ($196.32 million) on Sept. 26 to EGP8.12 billion ($262.78 million) on Oct. 27, marking a notable increase of EGP2.05 billion ($66.45 million).
Edita Food Industries is a market leader in Egypt’s growing packaged snack food market. The consumer goods group manufactures and sells a variety of branded snack products through its extensive retail channel, including packaged cakes, croissants, rusks (baked wheat), and wafers.
Berzi, who founded the consumer goods conglomerate in 1996 and presently serves as chairman and managing director of the group, owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
Hani Berzi’s wealth soars, gaining over $28 million amid Edita’s share surge
Since Oct. 27, Edita shares on the Egyptian bourse have surged from EGP26.77 ($0.866) to EGP29.64 ($0.959), catapulting the company’s market capitalization beyond $690 million. Shareholders, including Berzi, have reaped a significant 10.72-percent gain.
This double-digit percentage surge has elevated the market value of Berzi’s 41.95-percent stake in Edita Food by EGP870.54 billion ($28.17 million). It has risen from EGP8.12 billion ($262.78 million) on Oct. 27 to EGP8.99 billion ($290.95 million) as of the report’s composition.
These substantial gains firmly establish Berzi as one of the most successful investors on the Egyptian Exchange and one of the wealthiest individuals in the country
