Egyptian tycoons Hassan Allam, Ahmed El Sewedy back logistics startup Naqla with $10.5 million
Naqla has transported 4.6 million tonnes of goods in over 35 zones in Egypt since its inception over five years ago.
North Africa
Israeli Marom Energy buys stake in Moroccan exec Moundir Zniber-led Gaia Energy
Zniber launched Gaia Energy in 2008 to encourage the development of renewable energies in Morocco.
Egyptian billionaire Yasseen Mansour’s Palm Hills reports $54.5 million in profit in 2021
The group’s market capitalization is valued at $284.57 million.
Egyptian billionaire Naguib Sawiris advises gov’t on how to deal with rising oil, wheat prices amid Russia-Ukraine crisis
His advice comes almost two weeks after he warned Egypt’s government to stockpile wheat.
Qatari businessman Moutaz Al-Khayyat acquires $18.2 million shares in Egypt-based consumer goods manufacturer
Juhayna Food Industries is a market leader in the production, processing and packaging of dairy, juice and culinary goods.
Moroccan industrial tycoon Adil Douiri loses $1 million from stake in Mutandis
Mutandis has become a leading player in the Moroccan consumer goods market under Douiri’s leadership.
Linked to Malawian tycoon Hitesh Anadkat, Letshego posts $62.8 million in profit in 2021
Letshego’s market cap is valued $313.4 million, while Anadkat’s 2.76-percent stake is worth $8.6 million.
Egyptian businessman Loutfy Mansour says ‘he is not pursuing bid to buy Chelsea’ from Roman Abramovich
Mansour is the CEO of Man Capital, the private equity investment business of the Mansour Group.
Egyptian real estate mogul Hisham Talaat Moustafa’s TMG reports $2.06 billion in revenue in 2021
Moustafa, who played a key role in the firm’s transformation, controls a 43.16-percent stake in the conglomerate.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto posts $117.6 million in profits in 2021
Ghabbour launched GB Auto in 1985 as an Egyptian producer of automobiles, buses, lorries and motorbikes.
Egyptian billionaire Nassef Sawiris loses $450 million in February as shares in Adidas slump
Sawiris had a net worth of $6.5 billion at the start of February.
Moroccan industrial tycoon Adil Douiri’s Mutandis posts $177.3 million in revenue in 2021
The market value of Douiri’s 6.88-percent stake in Mutandis is valued at $17.33 million.
Moroccan businesswoman Lamia Tazi’s Sothema records over $217 million in revenue in 2021
Sothema produces over 60 million units of pharmaceuticals yearly.
Egyptian wealthy Khamis family to get $23.9 million in dividends from Oriental Weavers
At the current market price, the wealthy family’s shareholding is worth EGP2.7 billion ($194.2 million).
Egyptian tycoon Mohamed Morshedy’s real estate firm secures $44.4 million in financing from Al Baraka Bank-Egypt
Al Morshedy Mall is a division of Memaar Al Morshedy, an Egyptian real estate developer created in 1983 by Mohamed Morshedy.
Egyptian billionaire Naguib Sawiris warns gov’t to stockpile wheat in view of Russia-Ukraine crisis
Wheat prices have risen by more than 5.7 percent since the news of the crisis surfaced this morning.