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Egypt Kuwait Holding’s Parenco Egypt wins North Sinai drilling rights in Cairo’s $121 million exploration deals, cementing Loay Jassim Al-Kharafi’s influence in Egypt’s energy sector.
El-Sewedy brothers’ stake in Elsewedy Electric jumps over $80 million in under three weeks as investors rally behind Egypt’s industrial growth.
The brothers’ combined stake in the company is now valued at nearly $1.8 billion, a testament to their deep influence in the industry.
Their influence extends far beyond their home country, driving investment, policy shifts, and innovation.
The rise in the El-Sewedy brothers' fortunes is attributed to an 80.6-percent increase in Elsewedy Electric's share price.
This venture comes on the heels of Elsewedy Electric’s $40 million investment in a Tanzanian electrical tools factory in 2021.
The Group’s current and past projects include major projects such as high-speed rail, metro, monorail, railway, and light rail transit
Mansour, the founder of chairman of Man Capital LLP, has a $3.6-billion fortune according to Forbes.
Egyptian businesswoman Yasmine Mohamed Khamis and other Khamis family members own a 56.58-percent controlling interest in Oriental Weavers.
These billionaires hold 6.1 percent of the country’s total private wealth.
The devaluation of the pound may have a significant impact on the economy and on the net worth of Egyptian billionaires.
Egypt’s seven billionaires account for $17.83 billion of Egypt’s $307 billion in private wealth.
Mansour will receive a total payout of $835,000 from the dividend distribution.
The wealthy Ghabbour family holds a majority 62.9-percent stake in Ghabbour Auto.
The billionaire Sawiris family controls 51.8 percent of the Egypt-based contractor through OS Private Trust Company.
Moustafa failed to realize dollarized profits from his position.