Egyptian mogul Safwan Thabet to pocket $5.1 million in Juhayna dividends
The dividend will be paid from Juhayna’s retained earnings of $65.48 million.
North Africa
Egyptian billionaire Nassef Sawiris loses $270 million in April
The loss is directly linked to the performance of the German sportswear behemoth Adidas.
Egyptian businessman Safwan Thabet’s Juhayna posts $28.5 million in profit in 2021
Thabet owns a majority stake in the company, worth $194.7 million.
London-based Egyptian billionaire Mohamed Al Fayed has gained over $300 million so far in 2022
The $300-million wealth gains cement his position as one of Egypt’s wealthiest businesspeople.
Egypt leads with seven billionaires, as Cairo reigns supreme as Africa’s billionaire city
Egypt’s seven billionaires account for $17.83 billion of Egypt’s $307 billion in private wealth.
Egyptian multimillionaire Hassan Allam’s company is planning to build green hydrogen plants in Egypt
The plants will be located in the Suez Canal Economic Zone and along the Mediterranean coast.
Swvl, Egyptian startup led by Mostafa Kandil, acquires Turkish firm in $40-million deal
Kandil stated that with the acquisition of Volt Lines, Swvl will be positioned to deepen its presence in Europe.
Wealth among Africa’s HNWIs will reach $3 trillion by 2031, new report reveals
Total private wealth in Africa is $2.1 trillion, and is expected to rise by 38 percent over the next decade.
Moroccan Prime Minister Aziz Akhannouch loses $45 million from stake in Afriquia Gaz
Akhannouch remains one of the richest investors on the Casablanca bourse and one of Morocco’s richest businessmen.
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.
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.