Egypt’s multimillionaire Khamis family gains $14.8 million from Oriental Weaver stake
This recent surge further solidifies the Khamis family’s position as leading investors on the Egyptian Exchange.
North Africa
Egyptian executive Pakinam Kafafi leads TAQA Arabia to $75 million revenue in Q1 2024
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.
Egypt’s billionaire El-Sewedy family gains nearly $120 million in 10 days
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).
Egyptian tycoon Medhat Khalil’s Raya CX buys stake in Bahraini firm from U.S. investor
The acquisition, detailed in a market filing, saw Raya CX purchase 59,170 shares in the Bahraini company from an American investor.
Moroccan billionaire Anas Sefrioui sees nearly $90-million loss in ADH stake
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.
Tunisian tycoon Abdelwaheb Ben Ayed-linked Poulina group posts $40.6-million profit in 2023
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.
Egyptian tycoon Hani Berzi’s stake in Edita Foods gains $11 million in 9 days
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.
Ezz Steel shares plunge, costing Egyptian tycoon Ahmed Ezz $35.9 million
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel, or 329,816,198 shares.
Moroccan billionaire’s son acquires $15.4-million Miami Beach waterfront home
The purchase of the two-story mansion at 394 S. Hibiscus Drive, exemplifies the family’s penchant for exclusivity and grandeur.
Moroccan real estate tycoon Alami Lazraq loses $57.4 million from ADI stake
Despite this setback, Lazraq remains one of the wealthiest investors on the Casablanca bourse and continues to be recognized as a prominent Moroccan businessman.
Egyptian billionaire Yasseen Mansour loses $5.1 million from Palm Hills stake
Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
Ahmed El-Sewedy-led electric group seals deal to advance grain silos industry in Egypt
This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing.
Moroccan billionaire Othman Benjelloun loses $41 million from Bank of Africa stake
Benjelloun remains not only Morocco’s second-wealthiest individual after Prime Minister Aziz Akhannouch but also one of the most prosperous investors on the local bourse.
Egyptian banker Karim Awad leads EFG Hermes in $12.5-million debt issuance for HSB
The issuance marks a significant milestone for EFG Hermes, representing its fifth such issuance and the second within a pre-approved EGP2-billion ($41.8 million) program.
Moroccan pharma tycoon Lamia Tazi suffers $2-million loss from Sothema stake
The recent financial setback experienced by Tazi underscores the broader challenges facing Sothema and highlights the unpredictable nature of the stock market.
Egyptian magnate Abdallah Sallam’s Madinet Masr’s Sheya project records $106.6 million in sales
Located near the New Administrative Capital on a 228,212-square-meter plot, Sheya is slated for completion within four years.