Foodics, a company specializing in restaurant management solutions, aims to double its business in the Egyptian market this year, reaching over 6,000 restaurants locally by the end of 2024, compared to the current 3,000.
Omar Knio, Sr. Director of Corporate Communications at Foodics, said that the company wants to expand its operations in the Egyptian market, given its promising nature and the numerous opportunities it still offers. This is the company’s focus in the coming period.
Knio, speaking on the sidelines of the Forbes Middle East Summit, stressed that Egypt serves as a gateway for the company to expand its operations in the promising African market. The company provides some services to restaurants on the continent through its operations in Egypt.
He also noted that the company intends to establish its presence in Africa soon as part of its ongoing plan, especially with the significant economic diversity in the region. Expansion there has become a priority.
Knio highlighted the promising aspects of the Egyptian market, stating that the company mainly targets cooperation and service provision for the upper segment of restaurants, which holds the largest market share. He confirmed the company’s plan to increase its market share in the Egyptian market.
He added that the company will decide on either listing on the Saudi stock exchange or opting for a capital increase during the third quarter of this year.
Emphasizing the company’s goal to break even and achieve profitability by the end of this year, Knio pointed out the strong returns and good growth rates it has been experiencing.
Foodics offers a range of key solutions and systems, including the Foodics POS system, a comprehensive cloud-based restaurant management program. It also includes Foodics Pay, which facilitates payment by integrating various payment systems directly with the Foodics cashier application, with a daily transaction settlement feature. Foodics for Companies is another comprehensive system for managing all restaurant branches efficiently from a single platform, enabling business process development.
Foodics’s advanced technological systems and solutions include the Foodics Online platform for direct electronic ordering and payment without intermediaries. Additionally, the Foodics applications store allows integration with various external applications that can enhance the restaurant and café management experience, integrating seamlessly with various Foodics systems.
