Egyptian billionaire Ahmed Elsewedy plans to build electric cars in Algeria
Egyptian billionaire Ahmed Elsewedy’s Elsewedy Electric wants to build electric and hybrid cars in Algeria under its Elsewedy EZZ brand.
North Africa
Egyptian billionaire Nassef Sawiris wins Dutch court fight with OCI shareholders
The Amsterdam Enterprise Chamber rejected minority shareholders’ request for an inquiry into OCI, a win for Nassef Sawiris as his €4.10 buyout offer proceeds.
Fintech founder Mounir Nakhla's MNT-Halan opens Egypt's biggest IPO in years
MNT-Halan's Egyptian arm opened its 7.84 billion pound IPO at EGP 24.5 a share, Egypt's largest offering since 2021, with trading expected on Oct. 20.
Egyptian cable giant Elsewedy's investment arm exits university venture
Al Ahly Capital is buying El Sewedy Capital's 40% stake in a New Damietta university venture with CIRA due to open in 2027.
Moroccan billionaire Aziz Akhannouch’s Afriquia Gaz posts MAD370 million profit in first half of 2026
Moroccan billionaire Aziz Akhannouch’s Afriquia Gaz reported MAD370.2 million in consolidated net profit for the first half of 2026, up 0.5% year on year.
Egyptian businessman Ahmed Heikal's Qalaa Holdings to raise $74 million to clear bank debts and double refinery stake
Egyptian tycoon Ahmed Heikal’s Qalaa Holdings will seek approval for a EGP3.87 billion capital raise to expand energy investments and strengthen its finances.
Late Moroccan billionaire Miloud Chaabi's heirs remain divided 10 years on
Ten years after Miloud Chaabi died, his heirs are still at odds over Ynna Holding, while the conglomerate's subsidiaries are run by independent managers.
Moroccan tycoon Moncef Belkhayat builds $10.7 million logistics hub in Agadir
Moncef Belkhayat's La Voie Express Group will spend 100 million dirhams on a logistics hub near Agadir, its second site in the region.
Moroccan King Mohammed VI's bank to take control of Société Générale Ghana
Attijariwafa Bank, in which King Mohammed VI's family holds the largest stake through Al Mada, will buy 55.22% of Société Générale Ghana.
Moroccan billionaire Moulay Hafid Elalamy's Saham Bank posts $95 million profit
Saham Bank, owned by Moroccan billionaire Moulay Hafid Elalamy, lifted first half profit 15.5% to $95 million as lending, fees and revenue all grew.
Egypt's fintech unicorn MNT-Halan to sell 20% stake in Cairo IPO
MNT-Halan, Egypt's first fintech unicorn, will sell 20% of its Egyptian business on the EGX in one of the country's largest IPOs in years.
Billionaire Othman Benjelloun's Bank of Africa lifts first-half profit 10% to $261 million
Othman Benjelloun's Bank of Africa lifted first-half profit 10% to 2.5 billion dirhams as lower bad-loan charges offset a 37% fall in trading income.
Billionaire Aziz Akhannouch to leave office as Morocco names first woman prime minister
Morocco's king named Fatima Ezzahra El Mansouri prime minister, ending the five-year premiership of billionaire fuel tycoon Aziz Akhannouch after his party lost.
Egyptian billionaire Ahmed Elsewedy gains $174 million in Q3 as Elsewedy Electric shares climb
Ahmed Elsewedy's stake in El Sewedy Electric rose $174 million in the third quarter as the Egyptian cable maker's shares climbed 25.6%.
Billionaire Naguib Sawiris expects new gold finds in Egypt to reach at least 1 million ounces
Egyptian billionaire Naguib Sawiris expects his company's new gold exploration areas in Egypt to yield at least 1 million ounces of gold.
Africa's richest monarch watches his mining company multiply profit tenfold in six months
Managem, the mining arm of the Moroccan royal family's Al Mada, lifted first-half profit to 3.778 billion dirhams from 380 million a year earlier.