Egyptian tycoon Ashraf Sabry’s Fawry partners with WFP to boost financial services in Egypt
Under the leadership of Sabry, Fawry reported a consolidated profit of $4.6 million in the first quarter of 2023.
North Africa
Led by Egyptian exec Pakinam Kafafi, TAQA Arabia to list more than 1 billion shares on EGX
Under Kafafi, TAQA Arabia has experienced remarkable growth.
Led by Egypt’s richest family, Orascom Construction reports profit of $40.1 million in Q1 2023
Established in 1950 by the late Egyptian businessman Onsi Sawiris, Orascom Construction is majority-owned by the Sawiris family.
Egyptian businessman Ahmed El-Sewedy’s electric company records $94 million in profit in Q1 2023
El Sewedy Electric achieved extraordinary financial success in the first quarter of 2023.
Egypt’s second-richest man unveils $1.2 billion in investment projects in Uzbekistan
The announcement came during a meeting between Egypt’s second-richest man Naguib Sawiris and Uzbek President Shavkat Mirziyoyev.
Khaled Mahmoud’s MM Group reports 201.7-percent surge in Q1 2023 profits
Mahmoud’s MM Group reports 201.7-percent surge in Q1 2023 profits, boosted by consumer electronics and automotive division.
Egyptian tycoon Hani Berzi’s Edita records impressive $12.9 million in profit in Q1 2023
Berzi’s Edita Food Industries surges with $12.9 million in profit in Q1 2023, boosting investor confidence.
Egyptian tycoon Hisham Talaat Moustafa’s TMG shines with Q1 2023 profit exceeding $20 million
Moustafa, who owns a 43.16-percent stake in TMG Holding, is recognized as one of the richest investors on the Egyptian Exchange.
Led by Egyptian Ghabbour family, GB Corp’s Q1 2023 profits slump below $3.5 million
The Ghabbour family holds a 62.9-percent stake in GB Corp, solidifying their position as one of the wealthiest families in Egypt.
Algeria’s richest man Issad Rebrab banned from engaging in any business or management activity
Rebrab, former CEO of Cevital Group, was placed on May 18 under judicial control by the public prosecutor at the Sidi M’Hamed court.
Egyptian banker Karim Awad drives EFG Hermes to success: Q1 profits exceed $30 million
The group’s impressive financial performance underscores its position as a leading financial institution in the region.
Egyptian magnate Abdallah Sallam’s MNHD rakes in nearly $10 million in profit in Q1 2023
Sallam owns a five-percent stake in MNHD.
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.