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The double-digit growth in Q1 2024 is attributed to accelerated construction activity across its various destinations and improved performance across all its operating segments.
This uptick follows a prior decline, where Lazraq’s holdings in ADI decreased by MAD57.4 million ($57.4 million) between April 15 and May 5.
Fawry’s impressive Q1 performance fueled investor confidence. During trading on the Egyptian Exchange on Tuesday, shares surged 3.99 percent to close at EGP6 ($0.128).
The development project builds on TMG’s successful track record in Africa and the Middle East.
Despite these short-term fluctuations, Khalil remains a key figure in the Egyptian Exchange and is recognized among the country’s wealthiest individuals.
The Ghabbour family maintains control of GB Corp, with family members holding executive positions on the group’s board.
Despite the recent decline in the market value of his stake, Berzi remains a prominent investor on the Egyptian Stock Exchange.
The recent upswing follows a decline of EGP5.29 billion ($109.87 million) in his stake in TMG Holdings between April 15 and 22.
The partnership extends beyond financial cooperation. It also aims to promote trade and investment flows between Morocco and Palestine.
This recent surge further solidifies the Khamis family’s position as leading investors on the Egyptian Exchange.
Driven by sustained energy demand, TAQA Arabia’s revenue climbed to $75.3 million in the first three months of 2024, up from $61.8 million in the same period last year.
The family’s joint stake in Elsewedy Electric has risen from EGP45.9 billion ($968.4 billion) on April 30 to EGP51.49 billion ($1.09 billion).
The acquisition, detailed in a market filing, saw Raya CX purchase 59,170 shares in the Bahraini company from an American investor.
According to data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has declined by MAD900.65 million ($89.8 million) over the past nine days.
As a leading business executive who played a pivotal role in Poulina Group, Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate.
The significant increase in the market value of Berzi’s stake in Edita Food Industries further solidifies his position as one of the richest individuals in Egypt.