Egyptian steel tycoon Ahmed Ezz’s Ezz Steel posts record profit thanks to higher output
Ezz owns 60.7 percent of Ezz Steel.
North Africa
Issad Rebrab’s Cevital opens multimillion-dollar electric motors factory in Algeria
The launch of the plant comes five months after Rebrab stepped down as CEO of the group.
Egyptian businessman Hani Berzi gains $29 million in 30 days from stake in Edita
Berzi owns a significant 41.95-percent stake in Edita Food Industries.
Moroccan tycoon Hassane Amor has now lost $23.6 million since start of 2022
Amor owns a 56.17-percent stake in Microdata.
Egyptian entrepreneur Mohamed Azab’s Grinta secures $8 million in seed funding round
Azab said the startup is excited to have the right investor base that shares its values and vision.
Egyptian tycoon Ahmed El Sewedy’s electric company to set up new firm in Saudi Arabia
El Sewedy Electric was founded in 1938 by the El Sewedy family.
Five most popular hotels for ultra-wealthy individuals in Africa
South Africa remains the top luxury tourist destination in Africa.
Nigerian tycoon Temitope Lawani’s Helios buys stakes in two data centers in Kenya, Morocco
Helios Investment is one of the largest Africa-focused private investment firms.
Egyptian billionaire Nassef Sawiris gains $360 million in 22 days
Sawiris derives the majority of his fortune from his 38.8-percent stake in OCI N.V. and his six percent stake in Adidas.
Moroccan billionaire Othman Benjelloun gains $200 million in four weeks
The Moroccan billionaire derives the majority of his wealth from his investment in BMCE Group.
Egyptian businessman Hani Berzi’s Edita posts $25.7 million in profit in 9M 2023
Berzi owns a 41.95-percent stake in the leading packaged food maker through Quantum Invest BV.
Mohamed Mansour’s Infinity Power to commence work on green hydrogen project
Mansour stated that the company is honored to be working on its first-ever green hydrogen project.
Egyptian businessman Medhat Khalil’s Raya reports double-digit percent decline in profits
Khalil owns a 58.1 percent stake in Raya Holding.
Led by Egyptian Ghabbour family, GB Auto posts $51.8 million in profit in 9M 2022
The Ghabbour family’s 62.9-percent stake in GB Auto is worth nearly $125 million.
Egyptian mogul Khaled Mahmoud’s MM Group posts lower earnings in 9M 2023
Mahmoud owns 10.13 percent of the group, worth nearly $15.8 million.
Led by Egyptian Khamis family, Oriental Weavers’ profit slumps below $24 million
The Khamis family’s share in Oriental Weavers is worth $117 million.