CAIRO: Makro Egypt began rebuilding its Salam store after receiving final approvals from the government, according to the press statement, and has set up a tent for its wholesale products in the interim.
The store, closed since the revolution as a result of fire damage resulting in over LE 120 million in losses, is set to be fully operational in the last quarter of 2011.
In the meantime, Makro has set up a tent at the store where business professionals can purchase the products, offering a variety of dry foods, including essential items customers look for ahead of the holy month of Ramadan.
Managing Director of Makro Egypt Francois Oliver said, “At Makro we strive to consistently meet and exceed the expectations of our customers, our decision to host this tent was a direct response to the needs of over 70,000 of Salam City consumers who rely on us for the highest quality products.
“As the only wholesale store in Egypt our role during Ramadan is even more crucial given the bulk of food supplies business professionals need during this month.”
Metro/Makro Cash & Carry is represented in 30 countries with around 700 self-service wholesale stores. The company achieved sales of about €31 billion in 2010.
Metro Cash & Carry is a sales division of the retailing company Metro Group. In 2010 the group recorded sales of around €67 billion.
In June, Makro Egypt said it plans to export LE 42.8 million worth of Egyptian produce as part of a global initiative by its mother company, Metro Cash & Carry, to develop the export markets of the countries where it operates.
The program aims to support local farmers and suppliers in exporting to the international market.
Metro Cash & Carry designated a representative reporting to the group’s trading office in Turkey to ensure that local suppliers are able to export to Metro Group countries.
“In the program’s first year, we will start with the exportation of around 500 tons of grapes, before expanding our focus to other fresh produce. In total we expect that these exports will generate revenues of LE 42.8 million.” said Oliver at the time.
“Despite recent political changes we still believe that our expectations are realistic. Egypt’s agriculture sector has developed substantially in past years and now with the implementation of our Farmers Project, we are supporting small-scale farmers to compete on the international level.
Through the program, Metro Cash & Carry Germany will receive six containers of grapes, each averaging approximately 20 tons in weight, from Egypt.
Negotiations with Metro Cash & Carry Russia and Ukraine are underway, which are set to bring the number of export containers up to 15, generating revenue of LE 13 million.
Makro Egypt plans to then expand the export program to include pomegranates and citrus fruits, with the long term aim of supporting all qualified participants in the Farmers Project with tools to export and compete internationally.
Once Egypt reaches its target, a Metro Trading Office will be setup, which should increase revenues from exported produce.