Moroccan tech tycoon Karim Benjelloun’s Disway reports $95 million in revenue in H1 2022
Benjelloun owns 7.36 percent of the company, or 138,822 ordinary shares.
North Africa
Billionaire Mohamed Mansour’s Infinity plans to raise as much as $4 billion from capital market
The group is pushing to sustain its expansion and growth trajectory in the renewable energy industry.
Egyptian mogul Medhat Khalil-linked Aman Holding’s capital soars above $32 million
The fintech company’s capital has now risen to $32.4 million.
Led by Tunisia’s Ben Yedder family, Ennakl Automobiles’ revenue slumps below $22 million in H1 2022
The drop in revenue was due to supply and logistics issues.
Egyptian businessman Waleed Zaki’s Pioneers Properties completes $22.4-million bond issuance
Pioneers Properties is a subsidiary of Aspire Capital Holding, an Egyptian diversified group founded in 2007.
Moroccan tycoon Abdellatif El-Guerraoui’s Auto Hall signs deal with Stellantis to distribute new auto brands
Auto Hall distributes more than 16 brands in the automotive, mining, industrial, public works, agriculture, and oil sectors.
Egyptian businessman Medhat Khalil loses $42 million in 15 weeks from stake in Raya Holding
Raya Holding is an Egyptian investment conglomerate formed in 1999.
Billionaire Mohamed Mansour’s Infinity to acquire Lekela Power in Africa’s biggest renewable energy deal
Infinity is Egypt’s only dedicated renewable energy solutions provider.
Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
Tunisian businessman Mehdi Tamarziste gains $1.6 million in four weeks from stake in UBCI
The market value of his stake in the group places him among the richest investors on the Tunis Stock Exchange.
Moroccan PM Aziz Akhannouch’s net worth slumps by $300 million
Akhannouch derives the majority of his fortune from Akwa Group.
Egyptian tech tycoon Mostafa Kandil’s Swvl partners with German gov’t to power electric shuttles
Swvl is a global provider of transformative tech-enabled mass transit solutions.
Swvl, tech startup led by Egyptian entrepreneur Mostafa Kandil, moves to acquire Mexico’s Urbvan
Swvl is a global provider of transformative tech-enabled mass transit solutions.
Egyptian Khamis family loses more than $50 million in 16 weeks on stake in Oriental Weavers
The Khamis family is one of Egypt’s wealthiest families.
Egyptian billionaire Naguib Sawiris considers sale of Italy’s largest Internet services group
Sources say the Sawiris-led group is considering selling a minority stake or even a controlling stake.
Egyptian billionaire Yasseen Mansour loses over $6.7 million from stake in Palm Hills
Despite the year-to-date loss, Mansour remains one of Africa’s wealthiest men.