Egypt’s Ashraf Sabry leads Fawry’s bold move to revolutionize digital payments in MENA
This reflects its commitment to accelerating digital transformation and making financial transactions seamless.
North Africa
Two years after Funke Opeke’s MainOne deal, Equinix unveils $1 billion data center in Saudi Arabia
The announcement was made at the LEAP 2025 tech conference in Riyadh, which brought together participants from 18 countries.
Egyptian multimillionaire Ghabbour family’s stake in GB Corp falls by $19.65 million
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688.2 million shares.
Egyptian tycoon Mohamed Morshedy’s firm buys iconic Fouda Tower for $49.7 million
Morshedy Group is set to redevelop the 50-story Fouda Tower into a luxury mixed-use development featuring high-end residences and a premium hotel.
Abdallah Sallam’s Madinet Masr backs Disney on Ice grand finale in Cairo
The event, celebrating 100 years of Disney magic, reflects Madinet Masr’s commitment to enriching Egypt’s cultural and entertainment scene.
Egypt’s second-richest man, Naguib Sawiris’ net worth soars past $7 billion
With his net worth now at $7.27 billion, Sawiris remains Egypt’s second-richest man, trailing his younger brother, Nassef Sawiris, who is worth $8.99 billion.
Egyptian billionaire Hisham Talaat Moustafa unveils $27 billion plan to rebuild Gaza
His plan focuses on housing, infrastructure, and international cooperation to address the crisis.
Egyptian tycoon Hassan Allam’s group expands agri-portfolio with Jinet Agriculture
As part of this move, Jinet Agriculture has acquired 14,100 feddans in West Minya from the Egyptian Countryside Development Company.
Egyptian tycoon Hani Berzi faces $6.9 million loss as Edita Food stake plunges
Wary investors have been pulling back from the company as part of a broader shift on the EGX, increasing selling pressure on Edita Food’s stock.
Egyptian businessman Ahmed El-Sewedy’s electric firm launches telecom cables factory
The facility marks a major step in expanding Egypt’s telecom infrastructure and solidifying the country’s position as a regional manufacturing hub.
VC firm backed by Egyptian billionaire Mohamed Mansour closes $50 million fund for African startups
The funding marks a significant step in expanding tech investment across Africa, with a particular focus on Francophone regions and major startup hubs.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake dips below $1 billion
Even with this decline, Moustafa remains one of Egypt’s wealthiest individuals, backed by his significant holdings in TMG.
Egypt’s 10 richest businessmen in 2025
Their influence extends far beyond their home country, driving investment, policy shifts, and innovation.
Alami Lazraq’s fortune soars as Moroccan real estate stake tops $600 million
This secures Lazraq’s standing among Morocco’s wealthiest individuals, reinforcing his influence as a top investor on the Casablanca Bourse.
Egypt’s richest man loses $220 million in one week
Despite recent setback, Sawiris' wealth is up by $261 million YTD, driven by early 2025 gains and strong performance in his diverse portfolio.
Egyptian business executive Dalia Khorshid drives Beltone to record $143 million revenue in 2024
The strong results reinforced its position as one of the fastest-growing financial institutions in the Middle East and North Africa (MENA) region.