Moroccan real estate tycoon Alami Lazraq’s Alliances Group posts $147.8 million in revenue in 2021
Lazraq said the group met its goals for 2021 despite the pandemic.
North Africa
Led by Egyptian Khamis family, Oriental Weavers reports all-time record revenue of $725 million in 2021
Farida Khamis and other members of the Khamis family jointly control a 56.58-percent stake in the leading carpet maker.
Tunisian Ben Yedder family loses more than $3.7 million in 23 days from stake Ennakl Automobiles
Ennakl is a Tunisian automotive retailer engaged in the retail sale of Volkswagen, Audi, Seat and Porsche vehicles.
Egyptian billionaires Nassef Sawiris, Hassan Allam to set up four supply commodities warehouses
The project will be developed at a cost of $203.7 million.
Egyptian tycoon Ahmed Ezz loses $42.9 million from stake in Ezz Steel
The multimillion-dollar decline in his stake may be attributed to a sell-off of the company’s shares.
Moroccan tech tycoon Karim Benjelloun gains over $1 million from stake in Disway
At the end of 2021, Disway, Morocco’s first technology distributor, recorded a revenue of about $190 million.
Tunisian tycoon Mehdi Tamarziste’s stake in UBCI surge above $20 million
Tamarziste owns a significant 12.9-percent take in the leading lender, totaling 2,588,159 shares.
Egyptian billionaire Yasseen Mansour’s Palm Hills approves $206.5-million Sukuk bond to fund new project
Mansour controls a beneficial 4.68-percent share in Palm Hills Development.
Nassef Sawiris’ Orascom Construction in talks on $1.5-billion plant as Egypt faces water scarcity
The move comes in the wake of a water crisis that has left Egypt and its neighbors struggling.
Egyptian mogul Ashraf Sabry’s Fawry Microfinance surpasses $64 million in total disbursals
Fawry Microfinance is an operating subsidiary of Fawry for Banking Technology and Electronic Payments.
Egypt’s billionaire El-Sewedy family loses $109 million from stake in electric company
The El-Sewedy family owns 68 percent of the electric company, or 1,478,689,860 shares.
Egypt’s richest man Nassef Sawiris acquires $4.4-million stake in Nile City
According to a bourse filing, Sawiris acquired 203,024 shares in Nile City Investments via the block transaction.
Egyptian tycoon Hassan Allam’s construction group partners with U.S.-based tech firm to provide cybersecurity solutions
Hassan Allam Holding is Egypt’s largest privately held engineering, construction, and infrastructure firm.
Wealthy Egyptian Sawiris family assists Mostafa El Beltagy-led Nawy in raising $5 million in funding
Nawy’s innovative solutions and services have assisted over 60,000 people in finding houses.
Egyptian tycoon Ahmed El Sewedy’s electric company posts $224.5 million in profit in 2021
El Sewedy said the group finished the year with strong performance across all of its operating segments.
UAE’s largest bank offers to acquire majority stake in Karim Awad-led EFG Hermes
The proposed transaction is FAB’s second major transaction in Egypt.