Egyptian tycoon Hani Berzi rakes in $13.7 million in eight days from Edita stake

Yusuf Abdulfatai -

Egyptian businessman Hani Berzi has experienced a remarkable upsurge in the market value of his stake in Edita Food Industries, a flourishing packaged snack food market in Egypt in recent times. In just 8 days, the market value of Berzi’s stake soared by over $13 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 EGP424.65 billion ($13.74 million) over the past eight days — highlighting the sustained interest of investors in the Egyptian consumer goods group.

Edita shares rise by more than four percent, market cap soars above $700 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 serves as chairman and managing director — owns a significant 41.95-percent stake, which is equivalent to 303,323,015 ordinary shares in the leading packaged food manufacturer through Quantum Invest BV.

Since the start of the year, Edita shares on the Egyptian bourse have surged from EGP31.18 ($1) to EGP32.58 ($1.07), at the time of drafting this report, propelling the company’s market cap above $700 million. Shareholders, including Berzi, have reaped a significant 4.49-percent gain.

Berzi’s stake nears $320 million as Edita shares surge

The single-digit percent surge has elevated the market value of Berzi’s 41.95-percent stake in Edita Food by EGP424.65 billion ($13.74 million), rising from EGP9.45 billion ($306.09 million) on Jan. 1 to EGP9.88 billion ($319.84 million) at the time of drafting this report.

This substantial gain further cements Berzi’s position as one of the wealthiest investors on the Egyptian Exchange and also as one of the richest individuals in the country.