Moroccan pharma tycoon Lamia Tazi suffers $3-million loss from Sothema stake
Tazi, the CEO and chairperson of Sothema holds a substantial 8.4-percent stake in the leading healthcare company.
North Africa
North Africa’s richest man considers breaking up his billion-dollar empire
Sawiris hails U.S. investor Jeff Ubben’s influence as OCI embraces strategic overhaul.
Egyptian billionaire Samih Sawiris’ firm posts $631 million in revenue in 2023
Orascom Development Egypt, majority owned by Orascom Development Holding, operates within the orbit of businesses associated with the Sawiris family.
Egypt’s newest billionaire Hisham Talaat Moustafa’s TMG stake hits $1.3 billion
Hisham Talaat Moustafa is not only one of the wealthiest investors on the Egyptian Exchange but also one of the wealthiest people in the entire North African region
Companies owned by Morocco Prime Minister Aziz Akhannouch
From the multibillion-dollar Akwa Group to influential ventures in chemicals, mining, tourism, and media, discover the man behind the $1.7-billion fortune.
Morocco Prime Minister Aziz Akhannouch gains another $100 million
The multimillion-dollar increase in Akhannouch’s net worth has cemented his position as the wealthiest billionaire in Morocco.
Egyptian tycoon Hisham Talaat Moustafa’s TMG secures stake in newly established Legacy Hospitality
The recent acquisition aligns with TMG’s strategy to maximize recurring income activities, enhance foreign currency resources, and create spare liquidity for future dividends.
Egyptian billionaire Yasseen Mansour rakes in $2.8 million from real estate firm
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm, which translates to 202,291,698 ordinary shares.
Egyptian tycoon Hani Berzi rakes in $33 million in nine days from Edita stake
Berzi established the conglomerate in 1996 and presently holds a substantial 41.95-percent stake, equivalent to 303,323,015 ordinary shares, via Quantum Invest BV.
Morocco’s second-richest man Othman Benjelloun gains $51.5 million from BOA stake
Benjelloun owns a significant 27.41-percent stake in Bank of Africa.
Moroccan real estate mogul Alami Lazraq gains nearly $12 million from ADI stake
This surge not only solidifies his position among the leading investors on the Casablanca bourse but also reaffirms his standing as one of Morocco’s wealthiest individuals.
Morocco’s royal family gains $158 million from Attijariwafa Bank
Notably, the bank’s shares on the Casablanca Stock Exchange recently saw a 3.31-percent increase, climbing from MAD480.5 ($47.752) on Jan. 29 to MAD496.4 ($49.33).
Egyptian businessman Medhat Khalil loses $28.6 million from Raya Holding stake
Khalil owns a majority stake of 58.1 percent in Raya Holding, holding a total of 1,245,661,205 shares in the group.
Egyptian multimillionaire and steel magnate Ahmed Ezz faces $100-million loss in just 8 days
Ezz owns 60.7 percent of Ezz Steel, which translates to 329,816,198 shares in the steel behemoth.
Egypt’s billionaire El-Sewedy family loses $126 million in just six days
Ahmed El-Sewedy and his siblings, Sadek and Mohammed, hold a beneficial stake of 68.1 percent in the company, equivalent to a total of 1,478,358,330 ordinary shares.
Egypt’s richest man Nassef Sawiris loses $220 million in 2024
This downturn — which translates to an average daily loss of $8.16 million since the start of the year — is linked to the slump in the market value of his industrial assets in Europe and Africa.