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Ahmed Tarek Khalil has sold every share he held in Ajwa for Food Industries Egypt, disposing of an 8.34% stake for about 301.65 million Egyptian pounds, roughly $6 million.
The Egyptian businessman sold approximately 1.68 million shares at an average price of 180.097 pounds each, according to a disclosure filed with the Egyptian Exchange. Conversion uses 49.89 pounds to the dollar. Ajwa closed at 180.08 pounds, down 0.07%.
Those figures imply about 20 million shares in issue and a market capitalisation near 3.6 billion pounds, about $72 million, on a Billionaires.Africa calculation from the disclosed numbers.
Khalil made his money at sea. He founded Allianz Marine Services in 2012 and built it into the fourth-largest marine logistics provider to the oil and gas industry, running more than 170 vessels across 22 countries. He chairs it, along with Allianz Middle East Ship Management and YANZ, which supplies marine logistics to petroleum operators.
He is also an investor on Shark Tank Egypt, the local version of the entrepreneurship format, which has given him a public profile well beyond shipping.
His first business was a fish farm he founded at 16 and whose products he distributed across Egypt. He has since become known for buying during market downturns and for backing younger founders.
The portfolio has widened considerably. Khalil acquired two school chains in 2024 and announced a $100 million plan to open 1,000 medical clinics across Egypt under a healthcare venture called Tamouh. He has also put money into startups, including a follow-on round for The Potcast Productions, an Egyptian podcast company, alongside Innovative Media Productions, the media group behind Shark Tank Egypt.
Food was supposed to be part of that expansion. Khalil had been reported as pursuing strategic investments in the food and financial sectors, which makes a complete exit from Ajwa a reversal rather than a routine disposal.
Ajwa for Food Industries Egypt was established in 1985 and is an affiliate of Ajwa Group for Food Industries Holding Company of Saudi Arabia. It manufactures, refines, packs and exports edible oils and ghee, and produces shortening, margarine, butter and bulk oils, along with fatty acids and stearin.
The company has been active this year, backing a 9 million pound capital increase at a subsidiary in July and taking part in establishing a new company in June.
Neither Khalil nor Ajwa has said why he sold.
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