Billionaire Royal Family of Morocco gains $242 million from Attijariwafa Bank
Through Al Mada, his royal family office, King Mohammed VI of Morocco lays claim to the largest fortune by any Moroccan on the Casablanca Stock Exchange.
North Africa
Egypt’s second-richest man Naguib Sawiris targets $7-billion Reko Diq mine
With a net worth of $5.61 billion, Sawiris ranks as Egypt’s second-richest individual.
Moroccan tycoon Anas Sefrioui to produce limestone calcined clay cement in West Africa
Moroccan businessman Anas Sefrioui is the founder of Casablanca-based property developer Douja Promotion Groupe Addoha (ADH).
Tunisian tycoon Habib Essayeh suffers $2-million loss from Euro-Cycles stake
Essayeh, a leading businessman and executive who serves as the CEO of Euro-Cycles, owns a sizeable 33.6-percent stake in the Tunis-based firm.
Led by Morocco’s wealthy Tazi family, pharma company Sothema looks to East Africa for growth
Sothema is controlled by the multimillionaire Tazi and Berrada families, who hold a combined stake of more than 70 percent.
Egypt’s richest man Nassef Sawiris loses $130 million
In addition to his investments in OCI N.V., Sawiris holds a six-percent stake in the renowned sportswear giant, Adidas AG.
Morocco’s second-richest man Othman Benjelloun gains $117 million from BOA stake
Benjelloun owns a 27.41-percent stake in Bank of Africa. This stake translates to 57,214,615 shares in the financial services conglomerate.
TAQA Arabia, led by Egyptian exec Pakinam Kafafi, launches payment unit
Kafafi, a prominent figure in North Africa’s business landscape, has played a pivotal role in TAQA’s remarkable growth trajectory.
Egyptian billionaire Ahmed Ezz takes $36.5-million loss from Ezz Steel stake
Ezz, a leading Egyptian industrialist, owns a 60.7-percent stake in Ezz Steel, equating to 329,816,198 shares in the steel behemoth.
Egyptian fintech founder Ashraf Sabry loses $1.3 million from Fawry stake
Sabry, who founded Fawry in 2008 and pioneered electronic bill payments in Egypt, owns 2.345 percent of the fintech firm.
Egyptian mogul Safwan Thabet loses $23.6 million in 57 days from stake in Juhayna
Thabet owns a majority 50.07-percent stake in Juhayna Food Industries through Pharon Investments.
Egyptian businessman Hani Berzi’s Edita secures $45-million loan from IFC
Under Berzi’s leadership, Edita Food Industries experienced a remarkable upswing of 92.8 percent in profits.
Real estate firm led by Egyptian billionaire Yasseen Mansour unveils $2.75-billion venture
Mansour, the group’s chairman, maintains a 7.29-percent ownership interest in Palm Hills Developments.
Egypt’s newest billionaires, El-Sewedy family sees billion-dollar fortune take a hit
The market value of the El-Sewedy family’s stake in Elsewedy Electric has slumped by $76 million in the past eight days.
Egyptian billionaire Naguib Sawiris’ Orascom Investment sells Brazilian subsidiaries for $17.8 million
Orascom Investment Holdings, which is controlled by Sawiris, will use the proceeds to develop tourist destinations.
Oriental Weavers, led by Egyptian tycoon Yasmine Khamis, sells stake in NBK Egypt
The Khamis family, Egyptian multimillionaires, holds a majority stake of 56.58 percent in the company, which distributes its products in Oriental Weavers.