Moroccan billionaire Anas Sefrioui secures $27 million loan for 5,600 homes in Abidjan
The project includes 4,600 homes for lower-middle to middle-income buyers and up to 1,000 for lower-income families.
North Africa
Samih Sawiris’ Orascom Development Egypt posts $430 million in revenue for 2024
Orascom Development Egypt’s revenue surged 41.91% to $430 million in 2024, driven by record real estate sales and strong hospitality growth despite FX losses.
Egyptian steel magnate Ahmed Ezz loses $32 million from Ezz Steel stake
This represents a sharp reversal from the recent highs recorded in February, when the market value of his stake had surged to nearly $1 billion.
Edita, led by Egyptian businessman Hani Berzi, sees profits slip below $30 million on rising costs
While revenue surged, higher operational costs and currency devaluation cut into profits, pushing earnings below the previous year’s $30 million benchmark.
Moroccan businessman Alami Lazraq’s real estate stake falls below $700 million
The decline comes after a strong run earlier this year. Between Feb. 11 and 19, the value of Lazraq’s holding jumped by $89.7 million.
Naguib Sawiris, Egypt’s second-richest man, is $469 million richer this year
This follows a $500 million gain in 2024 when his fortune increased from $6.48 billion to $6.98 billion.
Egyptian billionaire Samih Sawiris transforms Andermatt with $1.2 billion luxury makeover
The revitalized resort now offers world-class skiing, scenic hiking trails, championship golf, and Michelin-starred dining.
Egyptian billionaire Yasseen Mansour leads Palm Hills to $536.1 million revenue in 2024
Palm Hills Developments' revenue surged 55.6% to $536 million in 2024, doubling profits as unit sales soared as strong asset growth cements its market leadership.
Nassef Sawiris, North Africa’s richest man, is $264 million richer this year
This follows a $310 million gain in 2024, when his wealth increased from $8.41 billion to $8.72 billion.
Pakinam Kafafi, Egyptian executive, leads TAQA Arabia to $370 million in revenue for 2024
The company’s growth was driven by increasing energy demand and strategic expansion efforts, reinforcing its position as a key player in Egypt’s energy sector.
Moroccan billionaire Anas Sefrioui stages comeback as Addoha stake soars past $1.1 billion
This follows a sharp rise in the market value of his shares in Douja Promotion Groupe Addoha, marking a significant financial rebound for the seasoned investor.
Egyptian tycoon Hani Berzi’s Edita Foods stake surges past $170 million
His stake's market value has climbed by $5.75 million, reversing some of the sharp declines recorded earlier this year.
GB Corp., led by Egypt’s Ghabbour family, reports $58 million profit in 2024
This was driven by robust growth in both its automotive and financial services arms, underscoring its key role in Egypt’s automotive sector.
Egyptian tech tycoon Ashraf Sabry’s Fawry posts $31.8 million profit in 2024
The company’s financial performance reflects its dominant position in Egypt’s digital payments sector and the country’s growing shift toward cashless transactions.
Yasmine Mohamed Khamis leads Egyptian carpet maker to $480 million in 2024 revenue
The strong performance was driven by a sharp rise in international sales, even as global trade faced economic and geopolitical pressures.
Egyptian tycoon Ashraf Sabry’s Fawry invests $1.6 million in three local tech firms
The leaders of the acquired companies welcomed the partnerships, describing them as valuable opportunities for growth.