Led by Egyptian exec Mohamed Adel, Roya sets sights on $1.2 billion in project sales
The Big Business District is poised to transform Cairo’s commercial landscape, offering a dynamic business hub characterized by modern design and functionality.
North Africa
Moroccan billionaire Othman Benjelloun loses $42.7 million from Bank of Africa stake
Benjelloun, who serves as the chairman of Bank of Africa, holds a noteworthy 27.41-percent stake in the institution, or 57,214,615 ordinary shares.
Egyptian billionaire Ahmed Ezz’s stake in Ezz Steel climbs by $64 million
Ezz, an influential figure in the Egyptian industrial landscape, currently owns 60.7 percent of Ezz Steel, equivalent to 329,816,198 shares.
Egyptian tycoon Hassan Allam’s group expands presence with Riyadh headquarters
The inauguration of the Riyadh headquarters marks a significant milestone in Hassan Allam Holding’s international expansion.
Egyptian magnate Abdallah Sallam’s MNHD posts $68.5 million in profit in 2023
Under the leadership of Abdallah Sallam, a prominent figure holding a five-percent stake in the company, MNHD displayed exceptional performance in 2023.
Algerian-born French tycoon Sue Nabi led-Coty completes first phase of share buyback program
This strategic move, driven by Coty’s robust balance sheet and strong cash flows, reaffirms the company’s commitment to enhancing shareholder value over time.
Egyptian billionaire Yasseen Mansour’s Palm Hills posts $51.1-million profit in 2023
Mansour highlighted the company’s record-breaking new sales of EGP59.5 billion ($1.92 billion), indicating a growth of 129 percent year-on-year.
Egypt’s wealthy Khamis family leads Oriental Weavers to $570 million in revenue in 2023
This was fueled by a 34-percent uptick in export revenue, comprising 64 percent of the total revenue, along with a 31-percent rise in local sales.
Moroccan businessman Anas Sefrioui gains $64.5 million from ADH stake
This significant increase solidifies Sefrioui’s position as one of the wealthiest investors on the Casablanca bourse and one of Morocco’s most prosperous businessmen.
Egyptian billionaire Hisham Talaat Moustafa’s TMG records $107-million profit in 2023
Shareholders can anticipate dividends distributed in two installments of EGP0.109 ($0.00356) each, with pay-out dates scheduled for May 31 and July 31.
Egyptian tycoon Safwan Thabet’s Juhayna unveils ambitious export expansion plans
Established nearly four decades ago by Thabet, Juhayna has become a significant player in the region’s consumer goods industry.
Egyptian tycoon Hassan Allam’s firm forms strategic partnership with Saudi real estate giant Sumou
The collaboration aims to promote cooperation between the two companies for the development of high-quality real estate projects in Saudi Arabia and Egypt.
Egyptian magnate Waleed Zaki’s firm takes first step in $712-million project in New Cairo
The IVOIRE East project is envisioned to house more than 1,000 families, boasting an array of luxurious villas and duplexes alongside commercial and administrative areas.
Egypt’s multimillionaire Khamis family loses nearly $70 million in 5 days
Despite the recent $69 million decline in the market value of their stake, the family maintains their position among Egypt’s wealthiest families and leading investors
Moroccan royal family’s investment in Attijariwafa Bank surges to $5 billion
The royal family’s stake in Attijariwafa Bank has increased by MAD2.18 billion ($217.23 million) over the past 19 days, reaching MAD50.18 billion ($5 billion).
Egyptian tycoon Ashraf Sabry’s Fawry and LA Market join forces to boost local businesses
Fawry, with esteemed shareholders including the National Bank of Egypt and Banque Misr, has positioned itself as a key player in Africa’s fintech landscape.