The European Bank for Reconstruction and Development (EBRD) has approved a €6 million loan for North Macedonian-based retailer KAM to support its expansion plans and sustainability initiatives.
The loan will be used to finance the modernisation of KAM’s existing stores and logistics facilities, making them more energy efficient, and to expand its modern grocery chain throughout the country, the EBRD noted in a statement.
The funds will also be used to upgrade KAM’s distribution centre and to ensure compliance with the Building Research Establishment Environmental Assessment Method (BREEAM) principles, which rate buildings based on their sustainability features.
The EBRD will also provide advisory programmes, funded by the EU, to support KAM’s strategic management and corporate governance improvements.
Hard Discounter
KAM is widely considered the first hard-discount retail chain in the Western Balkans and operates 80 stores across 20 cities in North Macedonia, with expansions into Bulgaria (24 stores) and Kosovo (23 stores) in recent years.
Founded in Skopje in 1999, KAM has grown into a major player in North Macedonian retail.
Named after its founder, Gotse Kamchev, KAM Market drew inspiration from German chain Aldi to offer quality essentials at affordable prices. The store assortment includes a wide range of food and non-food products, including private-label brands.
In 2022, KAM opened a 60,000-square-metre logistics facility in Skopje – the biggest in North Macedonia.
KAM’s main competitors in North Macedonia include local players Stokomak and Tinex, and Greece’s Vero.
In June 2023, large Greek retail group Veropoulos invested about €2 million to open a new Vero Market store in Kumanovo, as part of its efforts to expand its presence in North Macedonia, where it celebrated its 25th anniversary.
