Led by Egyptian exec Karim Awad, EFG Hermes issues $26.8-million bond
The bond has a credit rating of “A-” from Middle East Ratings and Investor Services.
North Africa
Egyptian mogul Ahmed Ezz’s steel company records more than $65 million in profit in Q1 2022
Ezz owns a majority 60.7-percent stake in Ezz Steel.
Moroccan PM Aziz Akhannouch’s Maghreb Oxygene reports $7.6 million in profit in Q1 2022
Akhannouch is a leading businessman who was appointed prime minister of Morocco in September 2021.
Egyptian mogul Khaled Mahmoud’s MM Group reports 60-percent slump in earnings in Q1 2022
Mahmoud owns a significant 10.13-percent stake in the company, worth nearly $13 million.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to sell stake in Ostool Transport in $14.3-million deal
Raya Holding has grown into a leading brand in Egypt since its formation in 1999.
Egyptian billionaire Nassef Sawiris gains $1.25 billion in May
Sawiris’ net worth reached $7.45 billion at the end of the month.
Led by Egyptian Khamis family, Oriental Weavers’ earnings fall as raw material prices rise
Yasmine Mohamed Khamis and her family own a 56.58-percent controlling interest in the leading carpet manufacturer.
Siemens, Nassef Sawiris-linked Orascom to collaborate on world’s sixth-largest high-speed rail system
Sawiris owns 28.97 percent of Orascom Construction.
Moroccan businessman Adil Douiri loses $2.6 million from stake in Mutandis
Douiri owns 6.88 percent of the consumer goods firm.
Egyptian tycoon Ahmed El Sewedy’s electric company records over $44 million in profit in Q1 2022
The El-Sewedy family owns 68 percent of the corporation, or 1,478,689,860 ordinary shares.
Moroccan pharmaceutical tycoon Lamia Tazi loses $9.4 million from her stake in Sothema
Tazi owns a sizable 3.93-percent stake in the company, totaling 282,644 shares.
Egyptian real estate mogul Hisham Talaat Moustafa’s TMG reports $28.8 million in profit in Q1 2021
Hisham Talaat Moustafa owns a 43.16-percent stake in the conglomerate.
Construction firm owned by Egypt’s wealthy Sawiris family to build industrial park
Nassef Sawiris owns 28.97 percent of the multinational construction group, or 33,825,323 shares.
Egyptian tycoon Raouf Ghabbour’s GB Auto marks impressive profit in Q1 2022
The Ghabbour family owns a 62.9-percent stake in GB Auto.
Led by Egypt’s richest family, Orascom Construction sees profit drop 43.1 percent in Q1 2022
Nassef Sawiris owns 28.97 percent of the multinational construction group, or 33,825,323 shares.
Led by Egyptian exec Pakinam Kafafi, TAQA Arabia acquires Rosetta Energy’s natural gas subsidiary
With the acquisition, the Cairo-based energy company plans to expand its portfolio in Africa and the Middle East.