Egypt’s OneOrder, an online one-stop shop that provides food supplies to hotels, restaurants and cafes, has secured a EGP125 million (US$6.5 million) working capital facility from Contact Factoring, a subsidiary of Contact Financial Holding, a leading non-banking financial services company. Founded by leading Egyptian restaurateur Tamer Amer – the founder of Fuego Sushi and Longhorn Texas BBQ, two of Egypt’s most successful restaurant chains – OneOrder aims to tackle Egypt’s restaurant industry’s main supply chain issues – pricing, quality and timing. There are similar restaurant supply chain inefficiencies in other countries in MENA and OneOrder aspires to, over time, expand its proposition geographically across the region. This cooperation will undoubtedly enable us to deliver high-quality products and help finance our customers’ working capital to overcome their supply chain issues,” Amer said. “In OneOrder, we are well aware of the gaps in the HORECA supply chain, not only in Egypt but across the MENA region.

Source: The North Africa Journal August 11, 2022 16:09 UTC