PepsiCo Egypt plans US$100m investment in 2020 to spur growth

EGYPT – PepsiCo Egypt, a subsidiary of multinational food and beverage firm, PepsiCo has slated US$100 million worth of investment in 2020 as part of the company’s four-year US$515 million investment plan in Egypt’s local economy by 2021.

This was revealed by the company’s chairman and CEO, Mohamed Shelbaya during a discussion with General Authority for Investment and Free Zones (GAFI) CEO, Mohamed Abd El-Wahab.

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According to a report by Mubasher, PepsiCo’s chairman highlighted that the company will focus on social responsibility in many sectors, most importantly women empowerment and entrepreneurship, in addition to contributing to efforts against the coronavirus (COVID-19).

Focusing on women empowerment, the food and beverage giant inked a deal late last year with the Ministry of Social Solidarity in Egypt and CARE Egypt, launching the She Feeds the World (SFtW) program with a US$3.7m investment targeting 390,000 female small-scale farmers.

The program set to run for three-year aims to provide resources and good practices training to the female farmers to help increase crop yields and income in Beheira, Giza, Minya, and Beni Suef governorates.

SFtW will apply an integrated approach to address the primary barriers that female farmers face such as access to tools, inputs, financial services, agricultural training, and markets to sell their products.

It also seeks to improve the nutritional wellbeing of 10,000 households through promoting improved nutritional behaviour, water replenishment, sustainable water usage, private and public sector engagement and improving access to reproductive resources.

With the on-going fight against the spread of the corona virus, the parent company headquartered in New York, PepsiCo and The PepsiCo Foundation, launched a US$45 million global initiative focused on helping people and communities most affected by this devastating virus.

The company is funding vital support including protective gear for healthcare workers, testing and screening services, and is already in the process of distributing more than 50 million nutritious meals to at-risk populations by supporting Food Banks and other partners around the world.

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