Moroccan tycoon Moulay Hafid Elalamy to acquire substantial stake in Othman Benjelloun’s BMCE Group
Elalamy is the founder and owner of Saham Group, one of Morocco’s leading insurance service providers.
North Africa
Egyptian billionaire Yasseen Mansour loses $2.56 million as Palm Hills shares slump by double digits
Palm Hills is a leading property developer with active investments and operations in Egypt.
Nassef Sawiris’ Orascom Construction completes acquisition of equipment distribution business
Orascom Construction has completed the acquisition of a leading equipment importation, distribution and services business in Egypt.
Moncef Sellami’s OneTech Holdings reports $313.9 million in revenue in 2021
Sellami founded the industrial behemoth in 1978.
Egyptian tycoon Ashraf Sabry’s Fawry plans U.S. listing, additional $50.9-million capital raise
Fawry is one of Africa’s few tech unicorns.
Led by Tunisia’s Ben Yedder family, Ennakl Automobiles reports over $186.6 million in revenue in 2021
Ennakl Automobiles is a Tunisian vehicle retailer majority-owned by the wealthy Ben Yedder family.
Egypt’s richest man Nassef Sawiris enters ‘exclusive negotiating agreement’ to own MLS 30th extension team
MLS is a men’s professional soccer league and the highest level of professional soccer in the United States and Canada.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group reports $1.1 billion in revenue in 2021
Poulina Group is a Tunisian conglomerate with interests in real estate, public works and infrastructure, wood and home appliances.
Moroccan real estate magnate Alami Lazraq gains more than $6.1 million in 20 days
Lazraq owns 51.7 percent of the Moroccan home builder, Alliances Developpement Immobiliere.
Moroccan startup Chari, led by Sophia Alj and Ismael Belkhaya, gets $100-million valuation in bridge round
Chari is a fintech startup digitizing the heavily fragmented FMCG sector in French-speaking Africa.
Moroccan Prime Minister Aziz Akhannouch’s stake in Afriquia Gaz now worth over $600 million
Afriquia Gaz SA is a Morocco-based group engaged in refining and marketing liquefied petroleum gas.
Moroccan tycoon Adil Douiri gains $1.05 million in 44 days from stake in consumer goods group, Mutandis
Douiri is the founder of Mutandis, a leader in the packaged foods industry in Morocco.
Nassef Sawiris’ Orascom Construction adds new projects worth $785 million in Q4 2021
Orascom Construction is a leading global engineering and construction contractor founded by the late Egyptian industrialist Onsi Sawiris.
Tunisian tycoon Moncef Mzabi gains over $1.4 million from stake in automobile retailer
Mzabi, who started ARTES with his brothers Mzoughi and Sadok, holds a substantial 24.8-percent stake in the company.
Egyptian tech entrepreneur Hossam Taher’s Orcas raises $2.1 million from investors
Orcas is an Egyptian live learning ed-tech startup with active operations in the Middle East and North Africa.
Moroccan tycoon Anas Sefrioui records $25.4-million gain as shares in Groupe Addoha soar
Sefrioui, one of Morocco’s richest men, controls a 64.1-percent stake in Groupe Addoha.