Swvl, tech startup led by Egyptian entrepreneur Mostafa Kandil, moves to acquire Mexico’s Urbvan
Swvl is a global provider of transformative tech-enabled mass transit solutions.
North Africa
Egyptian Khamis family loses more than $50 million in 16 weeks on stake in Oriental Weavers
The Khamis family is one of Egypt’s wealthiest families.
Egyptian billionaire Naguib Sawiris considers sale of Italy’s largest Internet services group
Sources say the Sawiris-led group is considering selling a minority stake or even a controlling stake.
Egyptian billionaire Yasseen Mansour loses over $6.7 million from stake in Palm Hills
Despite the year-to-date loss, Mansour remains one of Africa’s wealthiest men.
The 10 richest billionaires in Africa as of June 2022
From January to June, the combined net worth of Africa’s 10 richest billionaires fell by $1.22 billion.
Tunisian multimillionaire Habib Essayeh gains $4.2 million as Euro-Cycles shares soar
Euro-Cycles is a Tunisian automotive company that specializes in the production of bicycles and cycles for export only.
Egyptian tycoon Safwan Thabet receives $8.75 million in dividends from Juhayna
Thabet owns a majority 50.07-percent stake in the Egypt-based food products manufacturer.
Karim Awad-led EFG Hermes acquires stake in offshore oil support company, Maridive
The transaction comes two months after Maridive approved a 5.94-percent reduction in its authorized capital to $940.51 million.
Egypt’s richest man Nassef Sawiris loses $600 million in June after gaining $1.25 billion in May
His fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas.
Egyptian tycoon Ahmed El Sewedy’s electric company secures $150-million loan from IFC
Elsewedy Electric, an Egyptian international electrical corporation, was founded in 1938 by the El Sewedy family.
Egyptian entrepreneur Mounir Nakhla’s MNT-Halan acquires e-commerce platform, Talabeyah
The acquisition aligns with the fintech firm’s strategic expansion plans as it moves to deliver value.
Egyptian mogul Safwan Thabet’s Juhayna reports $7.5 million in profit in Q1 2022
Thabet owns a majority 50.07-percent stake in the group.
Moroccan real estate billionaire Alami Lazraq loses $25 million in 55 days
Lazraq owns 51.7 percent of Casablanca-based property developer Alliances Developpement Immobilier SA.
Billionaire Issad Rebrab retires as CEO of Algeria’s largest private group, Cevital
On July 1, his son Malik Rebrab, who has previously held high positions in Cevital, will take over as CEO.
Consortium comprising Egyptian tycoon Hassan Allam’s company invests $1.5 billion in Egyptian wind power plant
Hassan Allam Holding is a privately held engineering, construction, and infrastructure firm.
Moroccan tycoon Adil Douiri loses $2.6 million in 19 weeks as shares in Mutandis slump
Douri owns a 6.88-percent stake in the Moroccan consumer goods firm.