Egyptian billionaire Nassef Sawiris recovers from deficits as net worth exceeds $6.6 billion
With a total net worth of over $6.6 billion, Sawiris remains the richest man in Egypt and the 389th richest man in the world.
North Africa
U.S. resort firm, Vail, acquires majority stake in Swiss resort firm linked to Egyptian billionaire Samih Sawiris
Switzerland-based mountain resort company, ASA is majority-owned by Samih Sawiris.
Moroccan businesswoman Lamia Tazi loses $7.1 million from stake in pharmaceutical company, Sothema
Sothema has grown into a leading pharmaceutical company in Africa and the Middle East.
Egyptian founder Mostafa Kandil’s Swvl partners with Moove to deliver EVs in MENAP region
The agreement comes nearly two weeks after Moove raised $105 million from institutional investors.
Egypt’s Ghabbour family set to receive $13.1 million in dividends from GB Auto in 2022
The wealthy Ghabbour family holds a majority 62.9-percent stake in Ghabbour Auto.
Controlled by Moroccan Royal Family, Al Mada sets up venture fund with $109.9-million investment
Under the direction of Morocco’s King Mohammed VI, Al Mada has grown into a leading African private investment fund.
Karim Awad-led EFG Hermes posts profits of $81.8 million in 2021
EFG Hermes specializes in securities brokerage, asset management, investment banking and private equity.
Egyptian billionaire Naguib Sawiris’ La Mancha moves to invest $10 million in graphite mining firm
The cash proceeds invested by La Mancha will be deployed by SRG to develop its Lola graphite project in Guinea.
Led by Egypt’s richest family, Orascom Construction reports profits of $125.3 million in 2021
The billionaire Sawiris family controls 51.8 percent of the Egypt-based contractor through OS Private Trust Company.
Egyptian investor Hisham Talaat Moustafa loses $12.4 million as Egyptian pound slumps
Moustafa failed to realize dollarized profits from his position.
Led by Abdelmajid Iraqui Houssaini, TAQA Morocco declares profit of $131.3 million in 2021
TAQA Morocco has evolved into a prominent participant in Morocco’s energy industry.
Led by Egyptian Khamis family, Oriental Weavers open four new sales locations in Egypt
Oriental Weavers’ market capitalization is now valued at $324.9 million.
Moroccan real estate mogul Alami Lazraq gains $25.7 million in 77 days
Lazraq is one of the wealthiest investors on the Casablanca bourse.
Egyptian businessman Ashraf Sabry loses more than $8.5 million from stake in fintech unicorn
Sabry, who founded the payment platform in 2008 and pioneered electronic bill payments in Egypt, owns 2.345 percent of the company.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to launch e-payment company
Raya Holding is an Egyptian investment conglomerate founded in 1999.
Egyptian billionaire Yasseen Mansour’s real estate firm launches $206.5-million Sukuk bond
The proceeds from the issuing of Sukuk bonds will be used to build Palm Hills’ Badya creative city project.