Cairo - Mubasher: Univert Food Industries plans to obtain an EGP 10 million working capital loan.
The Cairo-based food manufacturer will use the financing in purchasing packing and raw materials, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Univert’s board has authorised the company’s vice chairman Afif Ghoneim to sign the new credit facilities with the Arab African International Bank (AAIB).
In the first nine months of 2018, the Egyptian food-manufacturing firm posted EGP 6.7 million losses, down from EGP 10.6 million in the prior-year period.
