Egyptian billionaire El-Sewedy family gains $775 million in 2023
In 2023, Elsewedy Electric shares on the Egyptian Exchange experienced a remarkable surge of 130.7 percent.
North Africa
Egyptian billionaire Ahmed El-Sewedy’s firm on track to finish $2.9-billion Tanzanian dam
Egyptian billionaire Ahmed El-Sewedy disclosed that the dam is now 94-percent complete and undergoing rigorous testing.
Moroccan tycoon Lamia Tazi gains $3 million from Sothema stake in 32 days
Tazi, the chairperson of Sothema and one of the wealthiest investors on the Casablanca bourse owns an 8.4-percent stake in the leading healthcare group.
Egyptian billionaire El-Sewedy family’s inks $300-million deal for agricultural food complex
This latest venture with MAFI comes shortly after Elsewedy Electric announced plans to launch a multimillion-dollar industrial city project in Tanzania.
Egypt’s second-richest man Naguib Sawiris rockets toward $6.5-billion net worth
The surge in Sawiris’ net worth has propelled him from $5.1 billion on Jan. 1 to $6.43 billion, adding $1.33 billion to his fortune since the start of the year.
Firm led by Egyptian billionaire Yasseen Mansour closes $13.7-million securitized bond
Mansour, the chairman of Palm Hills Developments, owns a 7.29-percent stake in the leading real estate group.
Egyptian tycoon Hani Berzi’s group to inject $32.5 million for production capacity boost
The decision to allocate $32.5 million toward capacity expansion follows the group’s successful finalization of a finance agreement with the IFC.
North Africa’s richest man Nassef Sawiris hits $8.3-billion net-worth mark
Boasting a net worth of $8.3 billion, Sawiris now comfortably sits among the ranks of the world’s 300 wealthiest individuals.
Egyptian tycoon Hisham Talaat Moustafa’s group acquires stake in Legacy Hotels
Founded in 1974, TMG has become a top player in Egypt’s real estate landscape.
Egyptian billionaire Ahmed Ezz spends $11.1 million to boost stake in Ezz Steel
Prior to the transaction, Ezz held a commanding 60.71-percent stake.
Fintech tycoon Ashraf Sabry’s Fawry and POS Mission link up to boost Egypt’s hospitality sector
Founded in 2008 by Sabry — its CEO — Fawry has become a leading Egyptian e-bill payment platform.
Egyptian tycoon Medhat Khalil’s Raya Holdings to launch IPO for IT subsidiary in 2024
Executives within Raya Holding emphasized that the IPO is designed to provide potential investors with an opportunity to acquire a stake in Raya Information Technology.
Following Abu Dhabi move, firm linked to Egypt’s richest sells stake in U.S. company
Sawiris, the chairman of OCI, reaffirms his confidence in the recently announced sale, highlighting its potential to create value.
Moroccan real estate mogul Alami Lazraq gains $10.7 million in 18 days
Lazraq, who founded Alliances Group in 1994, owns a 51.7-percent stake, amounting to 11,410,669 in the group’s publicly traded subsidiary, ADI.
Egypt’s El-Sewedy family gains $103 million, strengthens influence in Africa
Ahmed El-Sewedy and siblings Sadek and Mohammed hold a combined 68.1-percent majority stake in Elsewedy Electric, a staggering 1.48 billion ordinary shares.
Tunisian tycoon Abdelwaheb Ben Ayed rakes in $1.73 million from Poulina shares
Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate, Poulina Group.