Egyptian tycoon Medhat Khalil’s stake in Raya Holding surges by $21.1 million
Egyptian businessman Medhat Khalil, the founder and chairman of Raya Holding holds a majority stake of 58.1 percent in the Cairo-based investment conglomerate
South African billionaire Michiel Le Roux makes $42 million from stake in Capitec Bank
This surge solidifies his standing as one of South Africa’s leading businessmen and investors.
Moroccan billionaire Othman Benjelloun loses $42.7 million from Bank of Africa stake
Benjelloun, who serves as the chairman of Bank of Africa, holds a noteworthy 27.41-percent stake in the institution, or 57,214,615 ordinary shares.
America’s richest Black woman Oprah Winfrey steps down from Weight Watchers board
Winfrey’s choice to incorporate weight-loss medication into her routine, disclosed in December 2023, marked a shift from the usual discussions on weight control.
Egyptian billionaire Ahmed Ezz’s stake in Ezz Steel climbs by $64 million
Ezz, an influential figure in the Egyptian industrial landscape, currently owns 60.7 percent of Ezz Steel, equivalent to 329,816,198 shares.
Egyptian tycoon Hassan Allam’s group expands presence with Riyadh headquarters
The inauguration of the Riyadh headquarters marks a significant milestone in Hassan Allam Holding’s international expansion.
Egyptian magnate Abdallah Sallam’s MNHD posts $68.5 million in profit in 2023
Under the leadership of Abdallah Sallam, a prominent figure holding a five-percent stake in the company, MNHD displayed exceptional performance in 2023.
Egypt’s wealthy Khamis family leads Oriental Weavers to $570 million in revenue in 2023
This was fueled by a 34-percent uptick in export revenue, comprising 64 percent of the total revenue, along with a 31-percent rise in local sales.
Moroccan businessman Anas Sefrioui gains $64.5 million from ADH stake
This significant increase solidifies Sefrioui’s position as one of the wealthiest investors on the Casablanca bourse and one of Morocco’s most prosperous businessmen.
Ralph Mupita-led MTN Group partners with Ericsson to elevate core network infrastructure
Under the leadership of Mupita, MTN Group has cemented its status as Africa’s leading telecom service provider.
Led by Mauritian mogul Arnaud Lagesse, Phoenix Beverages acquires stake in Africa Originals
The Competition Authority of Kenya (CAK) confirmed the clearance on Wednesday, refraining from disclosing the financial details of the transaction.
Egyptian tycoon Safwan Thabet’s Juhayna unveils ambitious export expansion plans
Established nearly four decades ago by Thabet, Juhayna has become a significant player in the region’s consumer goods industry.
Egyptian tycoon Hassan Allam’s firm forms strategic partnership with Saudi real estate giant Sumou
The collaboration aims to promote cooperation between the two companies for the development of high-quality real estate projects in Saudi Arabia and Egypt.
Nigerian tycoon Taiwo Afolabi’s cargo handling firm resumes operations after fire scare
Sifax Group’s official statement assures that the company’s robust backup plan ensured no data loss during the fire incident, minimizing any potential long-term impact on operations.
Led by South Africa exec Roy Bagattini, Woolworths posts $107 million in half-year revenue
Despite the impressive revenue growth, Woolworths encountered supply chain disruptions that impacted sales during the 26-week period.
Egyptian magnate Waleed Zaki’s firm takes first step in $712-million project in New Cairo
The IVOIRE East project is envisioned to house more than 1,000 families, boasting an array of luxurious villas and duplexes alongside commercial and administrative areas.