Egyptian billionaire Naguib Sawiris confirms no current plans to list Ora Development on EGX
In the last two years, Sawiris’ net worth has grown by $400 million.
North Africa
Egypt’s richest man Nassef Sawiris loses $620 million in September amid stock market sell-off
Despite a multimillion-dollar drop in his net worth, Sawiris remains Egypt’s wealthiest man.
Moroccan PM Aziz Akhannouch has now lost $400 million since start of 2022
Akhannouch’s net worth has fallen by $400 million since the start of 2022.
Led by Egyptian banker Karim Awad, EFG Hermes concludes advisory to $102.4-million bond program
Under Awad, EFG Hermes’ assets have risen to more than $2.7 billion.
Egyptian steel tycoon Ahmed Ezz gains $55.4 million from stake in Ezz Steel
Ezz owns 60.7 percent of the company.
Moroccan billionaire Othman Benjelloun’s BMCE Capital launches $4.5-million VC fund for startups
The fund will be raised from renowned Moroccan investors and institutional financial organizations.
Led by Egypt’s richest family, Orascom Construction to build strategic warehouse in Egypt
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
Egyptian entrepreneur Amir Aboul Fotouh’s Mazaya startup raises $5 million to drive expansion plans
Mazaya was founded in December 2021.
Egyptian tycoon Ahmed El Sewedy-led El Sewedy Electric to secure $102.5-million credit facilities from seven banks
The announcement follows the receipt of a $150-million loan from the International Finance Corporation.
Moroccan tech tycoon Hassane Amor’s Microdata posts $4.3 million in profit in H1 2022
Amor’s 56.17-percent stake in Microdata is valued at $50.5 million.
Led by Egyptian magnate Abdallah Sallam, MNHD expects to award contracts worth $154 million this year
Sallam owns five-percent of the real estate company.
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.
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.