Adidas shares owned by Egypt’s richest man Nassef Sawiris surpass $2.7 billion
The recent surge in the share price of Adidas has bolstered Sawiris’ wealth significantly, with his stake now valued at $2.71 billion.
North Africa
Zimbabwe’s richest man Strive Masiyiwa’s Econet unveils plans to consolidate fintech assets
Econet Wireless Zimbabwe’s strategic restructuring with EcoCash signifies a pivotal step in consolidating its position within the financial technology sector.
Egyptian billionaire Elsewedy family’s foundation set to skill up 20,000 students
Established in 2011, the Elsewedy Technical Academy has been dedicated to providing high-quality technical education in line with global standards.
Egyptian billionaire Nassef Sawiris’ OCI N.V. posts $392-million loss in 2023
This is attributed to lower global nitrogen pricing and a reduction in natural gas prices in Europe and the United States following the exceptional highs of 2022.
Tunisian tycoon Abdelwaheb Ben Ayed gains $2.9 million from Poulina stake
The $2.87-million surge in the market value of his holding solidifies Ben Ayed’s status as one of the wealthiest investors on the Tunis Stock Exchange.
Egypt’s wealthy Khamis family loses nearly $90 million as Egyptian pound tumbles
Despite recent financial headwinds stemming from the Egyptian pound’s devaluation, the Khamis family remains among the country’s most affluent and prominent investors.
Orascom Construction, led by Egypt’s richest family, reports $8.1-billion backlog
Throughout 2023, Orascom Construction expanded its footprint by securing quality, internationally funded projects in Egypt and diversifying its presence in the UAE.
Egypt’s El-Sewedy family loses billionaire status as Elsewedy Electric shares tumble
Their 68.1-percent stake in Elsewedy Electric, once valued at $1.29 billion on March 14, has declined to $970.05 million at the time of drafting this report.
Egyptian tycoon Alaa Arafa’s GTEX lists on EGX, market cap nears $20 million
This move signifies a pivotal moment for GTEX, opening doors for public ownership and underscoring its commitment to global expansion.
Moroccan billionaire Othman Benjelloun’s Bank of Africa records $1.67-billion revenue in 2023
The board of Bank of Africa led by Othman Benjelloun recommends $0.3952/share dividend.
Egyptian tycoon Hassan Allam’s group buys prime land in Mostakbal City for $740 million
This transaction not only bolsters the group’s position in East Cairo but also solidifies its foothold in one of Egypt’s rapidly evolving real estate markets.
Egyptian tycoon Hani Berzi loses $207 million amid devaluation and share dip
Despite the recent decline in the market value of his stake, Berzi remains one of the richest investors on the Egyptian Exchange.
Moroccan real estate mogul Alami Lazraq nets nearly $18 million from ADI stake
This recent increase not only bolsters Lazraq’s net worth but also reaffirms his status as a leading investor on the Casablanca bourse.
Moroccan businessman Anas Sefrioui’s stake in ADH nears $600 million
Over the past three weeks, ADH’s share price has experienced significant growth, pushing the market value of Sefrioui’s stake up by MAD890.33 million ($88.19 million).
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.
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.