Egypt’s Hassan Allam Holding secures $703.6 million financing for Suez Wind Farm
The $703.6 million financing package was provided by a consortium of financial institutions.
North Africa
Nassef, Samih, and Naguib Sawiris to get $13.3 million from Orascom Construction
The payout comes as the company reaffirms its commitment to its shareholders amid economic pressures.
Egypt’s richest person considers UK exit over tax changes under Labour Government
This potential move follows his earlier decision to relocate his family office to Abu Dhabi, the capital of the United Arab Emirates (UAE), in December 2023.
Egypt’s richest family-led Orascom Construction to pay $24.3 million in interim dividend
The dividend announcement follows a resilient financial performance for the first nine months of 2024, with Orascom reporting $2.32 billion in revenue.
Oriental Weavers expands treatment plant as part of sustainability push
The facility, which operates with four consecutive treatment stages, is capable of processing up to 1,250 cubic meters of wastewater per day.
Raya Holding enters Saudi Market with $26.6 million Jarir partnership
This reflects the conglomerate’s ambition to broaden its regional presence and highlights its dedication to diversifying financial services across the Middle East.
Nearly $20 billion added to the wealth of African billionaires in 2024
During the year, the list of African billionaires expanded from 25 to 27.
Mansour Group joins China’s SAIC Motor for $135-million Egyptian auto plant
The project, announced at a ceremony with Egypt’s Prime Minister Mostafa Madbouly, supports Egypt’s goal to localize vehicle production.
Beltone approves $211 million to power expansion and growth goals
The fresh funds will support Beltone's initiatives to deepen its capabilities and strengthen its competitive positioning in the MENA region’s fast-evolving financial services sector.
Madinet Masr secures $177 million for Egypt’s development projects
The development projects, which are set to generate more than five million jobs, will help bridge the housing gap.
Hassan Allam’s leadership drives Egypt’s $1.1 billion Gulf of Suez wind farm project
Hassan Allam leads Egypt’s renewable energy transformation with a landmark wind farm project.
Sadek El-Sewedy gains $405 million from Elsewedy Electric despite currency devaluation
Sadek El-Sewedy’s stake could have seen a higher growth of $633.88 million if not for the 39.16 percent devaluation of the Egyptian pound.
Hassan Allam unit to build first international port terminal in Upper Egypt
The move underscores the deepening trade relationship between Egypt and the UAE.
CI Capital exits $23.6 million investment in Taaleem Management services
The divestment yielded an impressive four times return on invested equity, with an Internal Rate of Return (IRR) of approximately 50 percent.
Meet Mohammed Shafik Gabr: Bridging business, culture, and global innovation
Mohammed Shafik Gabr, an Egyptian entrepreneur, philanthropist, and art collector, has left an indelible mark on global business and cultural diplomacy through his visionary leadership and multifaceted ventures.
Mohammed Elsewedy’s fortune up $293 million amid devaluation of Egyptian pound
This highlights his resilience in navigating one of Egypt’s most challenging economic years.