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.
North Africa
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.
Moroccan tech tycoon Hassane Amor loses $4 million in just 83 days
Amor founded Microdata in 1991 and has played a critical role in the growth and expansion of the Moroccan technology sector.
Samih Sawiris shifts focus to Saudi Arabia, puts new investments in Egypt on hold
Sawiris, along with his brothers Nassef and Naguib Sawiris, is one of Egypt’s wealthiest businessmen.
Moroccan businesswoman Lamia Tazi loses nearly $11 million in 2 months
Tazi is one of the most affluent investors on the Casablanca Stock Exchange.
Mining company controlled by Moroccan royal family acquires gold project in Senegal
Managem, controlled by the Moroccan royal family, has acquired control of the Boto gold property in Senegal for $197 million.
Led by Tunisian Ben Yedder family, Ennakl posts $12 million in profit in 2022
The performance cements Ennakl’s position as one of Tunisia’s most profitable automobile retailers.