Egyptian business tycoon Hani Berzi has experienced a substantial surge in his wealth over the past nine days, primarily attributed to his investment in Edita Food Industries, a leading player in Egypt’s packaged snack food market.
The surge in Berzi’s wealth comes in the wake of heightened investor interest in Edita Food. His stake in the company scored a gain of EGP552.05 million ($11.57 million) in just nine days.
This surge marks a significant turnaround from a period of decline between April 15 and 24, when Berzi’s stake in the company dipped by EGP1.03 billion ($21.47 million), reflecting fluctuations in the Egyptian consumer goods market.
Edita Food maintains dominance in Egypt’s snack market
Edita Food Industries, a leading player in Egypt’s fast-growing packaged snack market, has maintained its dominant position on the back of its diverse brand portfolio that includes cakes, croissants, rusks, and wafers.
Chairman and Managing Director Hani Berzi, who founded Edita Food Industries in 1996 and currently serves as its chairman and managing director, holds a significant stake of 41.95 percent through Quantum Invest BV, representing 303,323,015 ordinary shares.
Edita’s share price on the Egyptian Exchange has surged 6.80 percent over the past nine days, propelling its market capitalization above $410 million.
Investment in Edita Food nets Hani Berzi $11 million in 9 days
With the upswing in Edita Foods shares, the market value of Berzi’s stake has surged by EGP552.05 million ($11.57 million) in just nine days, rising from EGP8.12 billion ($170.09 million) on April 24 to EGP8.67 billion ($181.66 million) at the time of drafting this report.
The significant increase in the market value of Berzi’s stake in Edita Food Industries further solidifies his position as one of the richest individuals in Egypt, underscoring his influential presence in the country’s business landscape.
