Banzaioun to pump LE 50M new investments in H1

CAIRO – 7 July 2017: Banzaioun – the New Fashion Co. will pump LE 50 million ($3 million) as new investments during the first half of the fiscal year 2017/18 to develop 14 branches, the firm's board chairman said Friday.

Mahmoud Abdullah added to Egypt Today that Banzaioun, affiliated to the Ministry of Public Business Sector, will enter into partnership with the private sector to inaugurate 10 new branches before December 10, 2017.

The board chairman revealed that the company achieved around LE 5.5 million profits in the fiscal year ended on June 30, 2017, against LE 8 million losses incurred in the FY 2015/16, for the first time in years.