The proposed investment, disclosed by IFC, is subject to environmental and social reviews and internal approvals. The funds would support Breadfast's expansion into secondary cities across Egypt and further development of its proprietary technology stack. Founded in 2017 by Mostafa Amin, Muhammad Habib and Abdallah Nofal, Breadfast operates an AI-driven platform offering grocery delivery within 60 minutes. If completed, the IFC investment would add another development finance institution to Breadfast's shareholder base, strengthening its balance sheet as competition intensifies in Egypt's fast-growing online grocery market. Owning bakeries and production facilities also supports food security goals, an area of focus for development finance in North Africa.

Source: The North Africa Journal December 29, 2025 14:07 UTC