Moroccan tycoon Lamia Tazi stake in Sothema rebounds above $60 million
Tazi’s recent financial gains are tied to the surge in Sothema’s stock on the Casablanca bourse.
North Africa
Egyptian tycoon Hassan Allam’s group wins $346-million contract for Saudi entertainment complex
The Al Kharj Entertainment Complex will be positioned between the cities of Abha and Khamis Mushait near Abha International Airport, covering 64,000 square meters.
Egypt’s second-richest person Naguib Sawiris sees net worth top $6.5 billion
Sawiris’ recent surge underscores his significant influence in the Middle East and North Africa and his ascent among the world’s elite billionaires.
Egypt’s richest man Nassef Sawiris makes $230 million in just 2 weeks
Egypt’s richest man Nassef Sawiris has experienced a remarkable upswing in his fortunes, with his net worth skyrocketing by $230 million in…
Egyptian tycoon Ahmed Ezz loses $422 million amid devaluation and share dip
Despite this significant downturn, Ezz remains a top figure in Egypt’s business landscape.
Egyptian billionaire Ahmed El-Sewedy’s firm chosen for Qatar cable project
The project entails the establishment of electricity supply to NFS project facilities, involving the design, engineering, procurement, and installation of two 400kV cables.
Moroccan Prime Minister Aziz Akhannouch’s wealth dips by $100 million in 5 weeks
The $100-million decline in Akhannouch’s net worth is primarily attributed to the revaluation of his holdings in Akwa Group.
Egyptian tycoon Medhat Khalil’s firm eyes expansion via acquisition ahead of IPO
Raya Information Technology is actively pursuing the acquisition of a firm specializing in outsourcing and application development.
Egypt’s billionaire El-Sewedy family loses $677 million as Egyptian pound tumbles
Despite this financial setback of $677 million, the El-Sewedy family maintains their position as one of Egypt’s leading billionaire families.
Egyptian billionaire Yasseen Mansour loses $12 million from Palm Hills stake
Despite this setback, Mansour remains a prominent figure in the African business scene. Forbes estimates his current net worth at $1.2 billion.
Egyptian billionaire Samih Sawiris’ company to construct Africa’s largest skate park
Construction of Africa’s largest skate park is slated to commence later this year, with the grand opening scheduled for 2025.
Egyptian billionaire Samih Sawiris’ firm posts $63.5 million in profit in 2023
Despite Sawiris’ decision to step down as chairman in December 2021, the company continues to thrive, setting new benchmarks in the 2023 fiscal year.
Algerian-born tycoon Sue Nabi leads Coty toward stable growth and debt reduction
While addressing the audience at CAGNY, CEO Sue Nabi reiterated Coty’s strategic course and commitment to growth.
Moroccan real estate mogul Alami Lazraq gains $22.8 million as ADI shares surge
Lazraq’s stake in ADI has experienced a substantial increase of MAD229.92 million ($22.87 million) in the last 25 days, attributed to the rise in the company’s shares.
Egyptian entrepreneur Mohamed Mousa leads startup to $3.2-million seed funding success
The funding secured during the LEAP 2024 conference signifies a crucial step for dKilo in its mission to transform OOH advertising.
Egyptian billionaire Hisham Talaat Moustafa faces $727-million loss due to devaluation
Despite the setback and financial challenges, Moustafa remains a prominent figure in the Egyptian business landscape.