Egyptian magnate Abdallah Sallam’s MNHD rakes in nearly $10 million in profit in Q1 2023
Sallam owns a five-percent stake in MNHD.
North Africa
Egyptian billionaire Mohamed Mansour makes historic $6.2-million donation to UK Conservative Party
The contribution marks the largest individual donation received by the party in the past two decades.
Tunisian tycoon Abdelwaheb Ben Ayed loses $2.8 million as Poulina shares plummet
Ben Ayed faces a $2.8-million loss as Poulina shares plummet, testing investor confidence.
Egyptian entrepreneur Ashraf Sabry’s Fawry reports $4.6-million profit in Q1 2023
Sabry’s Fawry surpasses expectations in Q1 2023 with a triple-digit profit surge, consolidating its position as a fintech leader.
Egypt’s second-richest man Naguib Sawiris suffers $110 million loss in just nine days
Sawiris, Egypt’s second-richest billionaire, faces a net-worth decline amid subdued gold prices.
Nassef Sawiris’ Orascom Construction sells chemicals subsidiary for $53 million
This divestment is part of Orascom’s strategy to extract value across its assets for allocation to growth and value-accretive areas.
Aziz Akhannouch, Morocco’s richest man, faces staggering $500-million loss in 2023
Akhannouch, Morocco’s prime minister and wealthiest individual, has lost half a billion dollars due to declining petroleum assets.
Egyptian billionaire Mohamed Mansour set to buy Major League Soccer team for $500 million
Mansour oversees Mansour Group, a family conglomerate, and has a net worth of $3.6 billion.
Adidas share price slump costs Egypt’s richest man $300 million in a single week
Sawiris remains the richest man in Egypt and the Arab world.
Led by wealthy Khamis family of Egypt, Oriental Weavers’ profit surges 74 percent y-o-y in Q1 2023
Egyptian businesswoman Yasmine Mohamed Khamis and other Khamis family members own a 56.58-percent controlling interest in Oriental Weavers.
Egyptian billionaire Yasseen Mansour gains $2.2 million from real estate firm
Mansour sees gains from stake in Palm Hills Developments, with shares increasing by 20.86 percent.
Egyptian billionaire Naguib Sawiris supports brother’s decision to relocate investments to Saudi Arabia
Naguib Sawiris has defended his brother Samih’s statements on the difficulty of doing business in Egypt.
Hisham Talaat Moustafa’s TMG sees significant contraction in Q1 2023 sales
With a 43.16-percent stake in TMG Holding, Moustafa is one of the richest investors on the Egyptian Exchange.
Naguib Sawiris’ Orascom Investment, BluEV join forces to revolutionize global transport industry
Sawiris emphasized that the partnership provides a viable solution to transform the transport sector in Egypt and the region.
Hisham Talaat Moustafa, one of Egypt’s richest men, rakes in $20 million in 48 days
With a 43.16-percent stake in TMG, Moustafa ranks among the richest investors on the Egyptian Exchange.
Egyptian tycoon Mostafa Kandil’s SWVL faces compliance issues with Nasdaq
SWVL Holdings Corp is a global provider of tech-enabled mass transit solutions.