Egyptian tycoon Ahmed El Sewedy’s electric company signs $21.5-million contract with EIPICO
The contract for the construction of EIPICO Factory 3 was signed through Rowad Modern Engineering.
North Africa
Led by Egyptian magnate Abdallah Sallam, MNHD to execute $77.2 million construction works in Cairo
Sallam controls a five-percent stake in MNHD.
Led by Egyptian exec Pakinam Kafafi, TAQA Arabia signs MoU to operate gas networks for one year
TAQA Arabia is Egypt’s leading energy and utility provider.
Egyptian real estate tycoon Hany El Assal’s Misr Italia plans $77 million investment in Cairo
Misr Italia Properties has been involved in 25 large-scale projects since its founding.
Moroccan tycoon Alami Lazraq gains $15 million from stake in Casablanca-based property developer
The news solidifies his position as one of the richest investors on the Casablanca bourse.
Egyptian tycoon Hend El-Sherbini’s IDH posts lower profits amid slowdown in COVID-19-related business
El-Sherbini controls a significant 26.1-percent stake in Integrated Diagnostics Holdings.
Egyptian tycoon Ahmed El Sewedy’s electric firm signs contracts worth $113 million to execute Toshka Project
El Sewedy Electric is a multinational manufacturer of cables and electrical equipment.
Egyptian billionaire Nassef Sawiris’ OCI N.V. to build ammonia plant in Texas
OCI N.V. stated that the project is well under way.
Egyptian businessman Raouf Ghabbour’s GB Auto considers selling stake in leasing business to Chimera
GB Lease was founded in 2008.
North African billion-dollar conglomerates shine in Forbes ranking of Arab family businesses
Arab family businesses have recently experienced a V-shaped recovery.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group sets up solar energy subsidiary
Ayed owns a beneficial 3.4-percent stake in Poulina Group.
Wealthy Tunisian Ben Yedder family loses $7 million in nearly six months
The ultra-rich Ben Yedder family owns a majority 53.3-percent stake in Ennakl Automobiles.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto spends $7.6 million of capital raise proceeds
Ghabbour founded GB Auto in 1985 as an Egyptian manufacturer of vehicles, buses, trucks, and motorcycles.
Egyptian real estate mogul Hisham Talaat Moustafa loses $8 million from TMG stake in one month
Moustafa controls a 43.16-percent stake in the conglomerate for the Talaat Moustafa family.
Egypt’s richest man Nassef Sawiris loses $130 million in August as net worth slides below $6.8 billion
Sawiris derives his wealth from a 38.8-percent stake in Netherlands-based OCI N.V. and his six-percent shareholding in Adidas.
Egyptian businessman Medhat Khalil’s Raya partners with Lafarge Egypt to convert trucks to natural gas
Khalil owns 58.1 percent of the company, or 1,245,661,205 shares.