Algeria’s richest man Issad Rebrab moves to shut down French-speaking press company, Liberte
Rebrab is the founder and owner of Cevital, the country’s leading private group.
North Africa
Egyptian tycoon Hani Berzi’s Edita Food Industries launches first overseas production facility in Morocco
The new facility will be run by Edita’s Moroccan subsidiary, Edita Food Industries Morocco.
Egyptian billionaire Yasseen Mansour’s Palm Hills to reward shareholders with $16.7-million dividend
Mansour will receive a total payout of $835,000 from the dividend distribution.
Billionaire Royal Family of Morocco loses $270 million from stake in Attijariwafa Bank
The Alaouite Royal Family owns a 45.3-percent stake in Attijariwafa Bank.
Egyptian billionaire Nassef Sawiris recovers from deficits as net worth exceeds $6.6 billion
With a total net worth of over $6.6 billion, Sawiris remains the richest man in Egypt and the 389th richest man in the world.
U.S. resort firm, Vail, acquires majority stake in Swiss resort firm linked to Egyptian billionaire Samih Sawiris
Switzerland-based mountain resort company, ASA is majority-owned by Samih Sawiris.
Moroccan businesswoman Lamia Tazi loses $7.1 million from stake in pharmaceutical company, Sothema
Sothema has grown into a leading pharmaceutical company in Africa and the Middle East.
Egyptian founder Mostafa Kandil’s Swvl partners with Moove to deliver EVs in MENAP region
The agreement comes nearly two weeks after Moove raised $105 million from institutional investors.
Egypt’s Ghabbour family set to receive $13.1 million in dividends from GB Auto in 2022
The wealthy Ghabbour family holds a majority 62.9-percent stake in Ghabbour Auto.
Controlled by Moroccan Royal Family, Al Mada sets up venture fund with $109.9-million investment
Under the direction of Morocco’s King Mohammed VI, Al Mada has grown into a leading African private investment fund.
Karim Awad-led EFG Hermes posts profits of $81.8 million in 2021
EFG Hermes specializes in securities brokerage, asset management, investment banking and private equity.
Egyptian billionaire Naguib Sawiris’ La Mancha moves to invest $10 million in graphite mining firm
The cash proceeds invested by La Mancha will be deployed by SRG to develop its Lola graphite project in Guinea.
Led by Egypt’s richest family, Orascom Construction reports profits of $125.3 million in 2021
The billionaire Sawiris family controls 51.8 percent of the Egypt-based contractor through OS Private Trust Company.
Egyptian investor Hisham Talaat Moustafa loses $12.4 million as Egyptian pound slumps
Moustafa failed to realize dollarized profits from his position.
Led by Abdelmajid Iraqui Houssaini, TAQA Morocco declares profit of $131.3 million in 2021
TAQA Morocco has evolved into a prominent participant in Morocco’s energy industry.
Led by Egyptian Khamis family, Oriental Weavers open four new sales locations in Egypt
Oriental Weavers’ market capitalization is now valued at $324.9 million.