Moroccan businesswoman Lamia Tazi’s Sothema records over $108 million in revenue in H1 2022
Sothema produces more than 60 million units of pharmaceuticals every year.
North Africa
Egyptian mogul Medhat Khalil’s Raya to manage Zain KSA customer experience in Saudi Arabia
Raya CX will provide outsourcing services to Zain KSA.
Led by Egyptian banker Karim Awad, EFG Hermes to pay Egypt’s tax office $20.5 million in H1 2022
The figure is 72-percent higher than during the same period last year.
Egyptian mogul Safwan Thabet’s Juhayna says price increases caused revenue to exceed $270 million in H1 2022
Thabet founded the Egypt-based food products manufacturer nearly 38 years ago.
Egyptian billionaire Yasseen Mansour’s Palm Hills reports over $550 million in property sales
Mansour owns a sizable 5.22-percent stake in the real estate firm.
Egyptian tycoon Ahmed El Sewedy’s electric firm signs deal to operate high-speed network projects in Egypt
The firm will collaborate with Germany’s Deutsche Bahn International Operation on the project.
Egyptian fintech founder Ashraf Sabry’s Fawry reports $5.1 million in profit in H1 2022
Fawry’s market cap is $640 million, while Sabry’s 2.345-percent stake is valued at $15 million.
London-based Egyptian billionaire Mohamed Al Fayed loses $100 million in 110 days
Despite the drop in his net worth, Al Fayed still ranks as one of Africa’s wealthiest billionaires.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto posts $37.6 million in profit in H1 2022
The wealthy Ghabbour family owns 62.9 percent of the leading automaker.
Financial services firm linked to Egypt’s Sawiris family suffers over $12 million in losses in H1 2022
OFH was founded in 1997 by the late Onsi Sawiris, a member of Egypt’s billionaire Sawiris family.
Egyptian billionaire Yasseen Mansour gains $1.86 million in 74 days from Palm Hills stake
Mansou owns a sizable 5.6-percent stake in the Cairo-based real estate firm.
Led by Egyptian Khamis family, Oriental Weavers set to withdraw investments from China
Oriental Weavers operates under the leadership of Egyptian businesswoman Yasmine Mohamed Farid Khamis.
These are the four African billionaires whose net worth has increased since start of 2022
Among them are Africa’s richest man Aliko Dangote and Egypt’s wealthiest man Nassef Sawiris.
Abu Dhabi-based Chimera acquires controlling stake in financial services provider linked to Egypt’s richest family
It is unclear how much of the 59.22 percent stake held by Orascom Financial Holding, a firm led by the billionaire Sawiris family, was acquired during the transaction.
Tycoon Anas Sefrioui loses $111 million from stake in Moroccan property developer
The market value of Sefrioui’s 64.1-percent stake has now dropped to $189.43.
Egyptian mogul Hendi El-Sherbini acquires additional $3.2 million in IDH shares
Her stake in the company has now risen from 25.5 to 26.1 percent.