Egyptian businessman Samih Sawiris on verge of losing ‘billionaire’ status
The Egyptian billionaire has seen a steady decline in his wealth since 2008.
North Africa
Egyptian billionaire Nassef Sawiris-linked Orascom begins construction of 500-MW wind farm
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
Egyptian billionaire Nassef Sawiris-linked Fertiglobe posts $1.07 billion in profit in 9M 2022
Fertiglobe is a 58-42 percent joint venture between OCI N.V. and ADNOC.
Egyptian billionaire Naguib Sawiris’ Ora Developers inks $103.1-million contract with Orascom
Ora Developers is a real estate operator and joint stock company.
Egyptian mogul Hend El-Sherbini’s IDH to launch diagnostic venture in Saudi Arabia
IDH is a major consumer healthcare group in the Middle East and Africa.
Moroccan multimillionaire Anas Sefrioui has lost nearly $135 million in 10 months from stake in ADH
Sefrioui owns a 64.1-percent stake in Douja Promotion Groupe Addoha.
Money Fellows, led by Egyptian founder Ahmed Wadi, raises $31 million for expansion
Wadi worked on a number of projects for Microsoft and Daimler before founding Money Fellows in 2016.
Controlled by Moroccan PM Aziz Akhannouch, Afriquia Gaz to acquire Total Mauritania
Akhannouch’s indirect stake in Afriquia Gaz is valued at $435.1 million.
Tunisian businessman Abdelwaheb Ben Ayed has now lost $4.6 million since start of 2022
Ben Ayed owns a beneficial 3.4 percent stake in the conglomerate.
Egyptian billionaire Nassef Sawiris loses $110 million in single day as Adidas cuts ties with Ye
Sawiris is Egypt’s richest man and one of Africa’s wealthiest billionaires.
Egyptian mogul Medhat Khalil’s Raya Holdings becomes full owner of Haier-Raya Electric
Khalil owns 58.1 percent of Raya Holding for Financial Investments.
Egyptian tycoon Hassan Allam’s company to invest up to $150 million in Morocco
Hassan Allam Holding is one of the largest privately held corporations in Egypt.
Egyptian billionaire Naguib Sawiris looks to invest $100 million in Morocco’s tech sector
Sawiris recently announced the planned investment move.
Egyptian tycoon Ahmed El Sewedy’s electric company denies arranging $254-million credit facility
El Sewedy Electric is one of the leading players in Egypt’s electrical equipment manufacturing industry.
Startup led by three Egyptian entrepreneurs raises $3.5 million eight months after launch
Kenzz aims to deepen e-commerce adoption in Egypt.
Moroccan tycoon Othman Benjelloun on verge of losing ‘billionaire’ status
BMCE Group is Morocco’s largest financial services provider.