Egyptian business magnate Hani Berzi has seen a remarkable uptick in his wealth lately, thanks to his investment in Edita Food Industries — a thriving packaged snack food company. His stake in the company has surged by over $33 million in just the past nine days, driven by the recent rise in Edita’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 jumped by EGP1.02 billion ($33.09 million) during this nine-day period, underscoring investors’ sustained interest in the Egyptian consumer goods giant.
This surge follows a brief downturn between Jan. 16 and 31, during which the market value of Berzi’s stake dipped by $18 million, falling from EGP10.07 billion ($326.08 million) to EGP9.52 billion ($308.12 million).
Edita shares rise by more than 11 percent, market cap soars above $750 million
Edita Food Industries leads Egypt’s expanding packaged snack food market. The company produces and distributes various branded snack items such as cakes, croissants, rusks, and wafers through its wide retail network.
Its founder, Berzi, established the conglomerate in 1996 and currently holds a substantial 41.95 percent stake, equivalent to 303,323,015 ordinary shares, via Quantum Invest BV.
Over the past nine days, Edita shares on the Egyptian exchange have surged from EGP30 ($0.971) to EGP33.37 ($1.08), pushing the company’s market capitalization above $750 million. Shareholders, including Berzi, have enjoyed a notable 11.23 percent gain.
Berzi’s stake nears $330 million as Edita shares surge
As a result of the double-digit percent surge in the company’s share price, the market value of Berzi’s 41.95-percent stake in Edita Food has increased by EGP1.02 billion ($33.09 million), rising from EGP 9.1 billion ($294.54 million) on Jan. 31 to EGP10.12 billion ($327.63 million) at the time of drafting this report.
This recent spike in the market value of his in Edita Food 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.
