93-year-old billionaire becomes Morocco’s richest man
At 93, Othman Benjelloun leads Bank of Africa and reclaims title as Morocco’s richest man with a $2 billion fortune.
North Africa
Another Moroccan billionaire on the rise, as Alami Lazraq's ADI stake nears $700 million
Alami Lazraq’s ADI stake nears $700 million, reflecting rising influence in Morocco’s property market and wealth rankings.
Medhat Khalil’s Raya gets $23.3 million to boost Egypt’s banking sector
Raya Integration secures $23.3 million credit to boost Egypt’s digital banking, IT infrastructure, and cybersecurity capabilities.
Egyptian entrepreneur Khalid Ashmawy's Munify raises $3 million in seed round
Egypt’s Munify raises $3 million led by Y Combinator to grow cross-border banking for millions of Egyptians overseas.
Egyptian tycoon Abdallah Sallam’s Madinet launches $370 million SAFE fund
Egyptian tycoon Abdallah Sallam’s Madinet wins FRA nod for its $370 million SAFE fund, a fractional real estate platform with 70,000 users.
Former Egyptian billionaire Ahmed Ezz returns to public life with industry board bid
Steel billionaire Ahmed Ezz has reemerged after years away, seeking a seat in Egypt’s metallurgical chamber elections with speculation about higher ambitions.
Moroccan billionaire Anas Sefrioui's stake in ADH surges above $1.2 billion
Moroccan billionaire Anas Sefrioui’s stake in Morocco’s ADH surpasses $1.2 billion as the property market shows signs of recovery.
Egyptian tycoon Hassan Allam's group wins major Oman water infrastructure contract
The project highlights the company’s expanding presence in international infrastructure projects.
Ghabbour family’s GB Corp plans $6 million Hyundai facility in Egypt
GB Corp invests $6 million to produce Hyundai cars in Egypt, boosting its role in the $6.15 billion automotive market.
Orascom Construction, owned by Egypt’s richest family, eyes Abu Dhabi listing
Egypt’s Sawiris family-led Orascom Construction shifts primary listing to Abu Dhabi Securities Exchange.
Egyptian tycoon Medhat Khalil’s Raya bids $31.7 million to tighten grip on outsourcing arm
Raya Holding moves to lift stake in outsourcing arm RAYA CX to 90 percent with $31.7 million tender offer as the unit posts stronger profit growth.
Egyptian tycoon Abdallah Sallam’s Madinet posts $26.4 million profit in H1 2025
Madinet Masr, led by Abdallah Sallam, posted $26.4 million profit in H1 2025, down 11.9%, as rising costs hit margins despite record sales and revenue growth.
Royal family of Morocco gains $2.2 billion from Attijariwafa Bank stake
Alaouite family’s stake in Attijariwafa Bank rises $2.2 billion, reflecting strong bank performance and strategic investments.
Egyptian tycoon Waleed Zaki’s Pioneers Properties profit drops 82% in first half of 2025
Egyptian businessman Waleed Zaki reports Pioneers Properties profit down 82% in early 2025, as costs offset revenue growth.
Safwan Thabet’s Juhayna to Lift Prices as Costs Surge, Defying Egypt’s Cut Drive
Juhayna plans gradual hikes to offset soaring import costs post-devaluation—even as retailers slash prices.
Orascom Construction, led by Egypt's richest family, reports $9.6 billion backlog in first half
Orascom Construction, led by Egypt’s Sawiris family, posts $9.6 billion backlog and $3.4 billion in new H1 2025 awards globally.