Moroccan tycoon Mohamed Bensalah acquires Kenyan insurance firm
The purchase was made for an undisclosed sum.
North Africa
Egyptian billionaire Nassef Sawiris’ net worth rises by $820 million in May
The surge is largely due to gains in his shares in Adidas and OCI N.V.
Aliko Dangote, Mo Ibrahim join France in deliberating on Sudan’s $5-billion debt cancellation
President of France Emmanuel Macron announced the cancelation as a nod to Sudan’s progress with reforms.
Morocco’s King Mohammed VI extends philanthropic activities in Ghana
His foundation has donated provisions to a polyclinic in Nima in Greater Accra.
Egyptian billionaire Mohammed Mansour donates £100,000 to COVID-19 memorial fund in Knightsbridge
His donation will support building a multi-faith memorial at St. Paul’s Cathedral.
Suez Canal Authority’s $916-million demands unrealistic: Naguib Sawiris
The Egyptian billionaire said the authority’s demands contradict national interests.
Egyptian billionaire Nassef Sawiris’ Fertiglobe records growth in Q1 2021, eyes Abu Dhabi listing
The company has announced a potential move to list on the Abu Dhabi Stock Exchange.
Egyptian billionaire Mohamed Mansour appointed to newly created Investment Advisory Board in UK
The board will serve as the UK government’s foreign investment advisory body to Egypt.
Naguib Sawiris steps down as chairman of Orascom Investment Holding
Egyptian billionaire businessman Naguib Sawiris has stepped down from his role as the chairman of Orascom Investment Holding.
WorldRemit founder Ismail Ahmed commits $500 million to philanthropy in Somaliland
WorldRemit founder Ismail Ahmed has launched a $500-million fund to support education, healthcare and infrastructure development in his native Somaliland.
Nassef Sawiris, Issad Rebrab and family named world’s richest Arabs
Egypt’s Nassef Sawiris and Algeria’s Issad Rebrab and family have emerged as the first and second richest Arabs in the world.
Sawiris family moves to expand further in Egypt’s gold sector
A deal between AKH Gold and Egypt’s Petroleum and Mineral Resources Ministry will increase the Sawiris’ stake in the gold sector.
$200-million stock deal deepens Sawiris family interest in global gold market
La Mancha Holdings announced the closing of a $159-million subscription to the shares of Endeavour Mining Corporation.
Mohamed Frikha’s Syphax Airlines partners with local aviation firm to provide online pilot training
The training will help update its pilots’ skills and provide a better customer experience.
Nigeria to commission $1.3-billion fertilizer plant with Morocco
The plant will facilitate fertilizer production using gas reserves, improve Nigerian agriculture and enhance bilateral trade between the countries.
Mark Cuban invests in Morocco’s tech sector as ties with Israel restored
U.S. billionaire Mark Cuban is making moves to invest in Morocco’s emerging fintech sector.