Moroccan real estate tycoon Alami Lazraq’s Alliances Group posts $147.8 million in revenue in 2021
Lazraq said the group met its goals for 2021 despite the pandemic.
Egypt
Egyptian billionaire Yasseen Mansour’s Palm Hills approves $206.5-million Sukuk bond to fund new project
Mansour controls a beneficial 4.68-percent share in Palm Hills Development.
Nassef Sawiris’ Orascom Construction in talks on $1.5-billion plant as Egypt faces water scarcity
The move comes in the wake of a water crisis that has left Egypt and its neighbors struggling.
Egyptian mogul Ashraf Sabry’s Fawry Microfinance surpasses $64 million in total disbursals
Fawry Microfinance is an operating subsidiary of Fawry for Banking Technology and Electronic Payments.
Egypt’s billionaire El-Sewedy family loses $109 million from stake in electric company
The El-Sewedy family owns 68 percent of the electric company, or 1,478,689,860 shares.
Egypt’s richest man Nassef Sawiris acquires $4.4-million stake in Nile City
According to a bourse filing, Sawiris acquired 203,024 shares in Nile City Investments via the block transaction.
Egyptian tycoon Hassan Allam’s construction group partners with U.S.-based tech firm to provide cybersecurity solutions
Hassan Allam Holding is Egypt’s largest privately held engineering, construction, and infrastructure firm.
Wealthy Egyptian Sawiris family assists Mostafa El Beltagy-led Nawy in raising $5 million in funding
Nawy’s innovative solutions and services have assisted over 60,000 people in finding houses.
UAE’s largest bank offers to acquire majority stake in Karim Awad-led EFG Hermes
The proposed transaction is FAB’s second major transaction in Egypt.