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
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.
Egyptian billionaire Ghabbour family gains $49 million in 22 days
This impressive financial gain further solidifies the Ghabbour family’s position as one of the richest investors on the Egyptian Exchange.
Moroccan billionaire Othman Benjelloun suffers $53-million loss from Bank of Africa stake
Benjelloun, who ranks as Morocco’s second-richest individual, owns a significant 27.41-percent stake in Bank of Africa.
UAE-based firm linked to Samih Sawiris nears 90-percent acquisition of OFH in $137.5-million deal
Sawiris owns a 9.2-percent stake in UAE-based investment firm, B Investments.
Egypt’s Khamis family loses $19.2 million in 17 days from Oriental Weavers’ stake
Oriental Weavers shares slump 8.29 percent, resulting in losses for shareholders, including the Khamis family.
Egyptian tycoon Medhat Khalil’s Raya Holdings increases stake in Cairo-based logistics firm
Khalil firmly owns a commanding 58.1-percent majority stake in Raya Holding, boasting an impressive total of 1,245,661,205 shares.
Moroccan PM Aziz Akhannouch loses $14.8 million from Afriquia Gaz stake
Akhannouch — appointed prime minister of Morocco in September 2021 — derives part of his billion-dollar fortune from the Akwa Group.