Egyptian businesswoman Hend El-Sherbini to pocket $17.9 million in dividends from IDH
This is a quarter of the $70-million dividend approved by the board at the end of the 2021 financial year.
North Africa
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group posts $304 million in revenue in Q1 2022
Ayed owns a beneficial 3.4-percent stake in the conglomerate.
Egyptian tycoon Ashraf Sabry’s Fawry records over $13 million in net profits in 2021
Fawry is one of Africa’s leading fintech companies, offering more than 250 e-payment services.
Egyptian tycoon Hend El-Sherbini’s IDH reports $80 million in profit as COVID-19 tests drive growth
IDH is a leading consumer healthcare group in the Middle East and Africa.
Egyptian billionaire Yasseen Mansour’s Palm Hills acquires additional stake in Incolease
The market value of Mansour’s 4.68-percent stake in Palm Hills Development is now valued at $11.96 million.
TFL, an Egyptian cloud kitchen led by Kareem El-Daly, raises $4.5 million in pre-seed funding
TFL was founded in 2020 by El Daly, Ahmed Osman, and Wesam Masoud to deploy technology to assist restaurants.
Egyptian businessman Hani Berzi eyes $4.5-million dividend from stake in Edita Food Industries
The dividend will be paid from the group’s retained earnings of $103.8 million.
Billionaire Yasseen Mansour’s Palm Hills Developments budgets $243 million for 2022
Palm Hills Developments has set aside $243 million for development work in 2022.
Nassef Sawiris’ stake in OCI N.V. is now valued at more than $3 billion
Meanwhile, his stake in German sportswear behemoth Adidas is valued at $2.59 billion.
Egyptian auto magnate Raouf Ghabbour plans to establish assembly plant in Kenya
Ghabbour founded GB Auto in 1985 as a manufacturer of automobiles, buses, lorries and motorcycles in Egypt.
Egyptian investor Tarek Assaad’s VC firm, Algebra Ventures, secures $15 million in funding from World Bank
Assaad is also the managing partner of Ideavelopers, where he has managed $50 million in investments since 2009.
Egyptian businessman Hassan Allam’s construction firm to develop solar power plant in Egypt
With over 80 years of experience, Hassan Allam Holding is one of the largest privately held corporations in Egypt.
Nassef Sawiris, Egypt’s richest man, is now richer than Canadian billionaires Linda Campbel and Gaye Farncombe
Sawiris’ net worth has recently risen due to a surge in the value of his industrial assets.
UAE’s largest bank, FAB, has withdrawn its offer for majority stake in Karim Awad’s EFG Hermes
The disclosure comes two months after the bank announced its plan to acquire a 51-percent stake in EFG Hermes Holding.
South African executive Gerrie Fourie receives salary of $6.3 million from Capitec Bank in 2022
Fourie, the current CEO of Capitec Bank, has received millions of dollars in compensation from the bank since joining the leading financial services provider in 2014.
Egyptian entrepreneur Ahmed Ashour’s Pylon raises $19-million seed round
Pylon was developed with the goal of addressing the $400 billion in losses and uncollected revenue in the distribution of energy and water.