Egyptian tycoon Hani Berzi rakes in $28 million in 5 days from Edita stake

Feyisayo Ajayi -

Solidifying his status among Egypt’s wealthiest, Hani Berzi has experienced a significant boost in wealth, thanks to his investment in Edita Food Industries, a successful packaged snack food company. In the last five days alone, his stake in the company has increased by almost $30 million, propelled by Edita’s recent share price surge on the Egyptian Exchange.

According to data tracked by Billionaires.Africa, the market value of Berzi’s stake in Edita Food Industries has surged by EGP864.47 million ($27.98 million) over the past five days, highlighting sustained investor interest in the Egyptian consumer goods company.

This adds to the significant increase seen between Jan. 31 and Feb. 9, when Berzi’s stake surged by EGP1.02 billion ($33.09 million), increasing from EGP9.1 billion ($294.54 million) to EGP10.12 billion ($327.63 million).

Edita shares rise by nearly nine percent, market cap soars above $820 million

Edita Food Industries dominates Egypt’s growing packaged snack food sector, offering a diverse range of branded items like cakes, croissants, rusks, and wafers through an extensive retail network. Berzi holds a significant 41.95-percent stake, equivalent to 303,323,015 ordinary shares in the Egyptian consumer goods giant, facilitated by Quantum Invest BV.

In recent times, Edita’s shares on the Egyptian Exchange have surged by 8.85 percent, climbing from EGP32.21 ($1.042) to EGP35.06 ($1.135). This propelled the company’s market capitalization to a new peak of $820.37 million, resulting in substantial gains for shareholders, including Berzi, who founded the packaged snack food company.

Berzi’s stake nears $350 million as Edita shares surge

As a result of the 8.85-percent surge in the company’s share price, the market value of Berzi’s stake in Edita Food has increased by EGP864.47 million ($27.98 million), rising from EGP9.77 billion ($316.17 million) on Feb. 12 to EGP10.63 billion ($344.15 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.