Led by Egypt’s richest family, Orascom Construction adds $1.8 billion in new projects in Q2 2022
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
North Africa
Moroccan tech tycoon Karim Benjelloun loses over $2.5 million in 54 days from stake in Disway
Disway is a major technology player in the Maghreb region.
Egyptian businessman Hassan Allam’s company joins subcontractors in El-Dabaa nuclear plant construction
Hassan Allam Holding is one of the largest privately held enterprises in Egypt, the Middle East, and North Africa.
Billionaire Royal Family of Morocco loses $592 million from stake in Attijariwafa Bank
However, the Alaouite Royal Family remains Morocco’s wealthiest family.
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.
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.