Egypt’s El-Sewedy family gains $127.1 million as shares in Elsewedy Electric surge
Elsewedy Electric is an Egyptian multinational electrical company founded by the Elsewedy family in 1938.
North Africa
Controversial Egyptian tycoon Ahmed Ezz to acquire stake in Egyptian Steel for $159.2 million
Ezz Steel has an annual steel production of 7 million tonnes.
Meet the six Egyptian billionaires jointly worth $18.2 billion
Egypt ranks second in the elite group of African countries that account for over 50 percent of Africa’s private wealth.
More trouble for Algerian tycoon Ali Haddad as court unravels fresh case of fraud
The long-time ally of the late former Algerian President Abdelaziz Bouteflika appeared before a court in Fellaoucene yesterday.
U.S.-based investment firm divests $10.75 million in shares in Al-Moataz Adel Mahmoud Al-Alfi’s led EKH
EKH is an Egyptian investment company with a diversified portfolio of investments.
Led by Mohamed El-Shinnawy, Egyptian entertainment startup Minly acquires Oulo video-gifting platform
Minly is a digital platform that allows celebrities to connect to teeming fans through a new form of personalized experiences.
Egypt’s wealthy Khamis family moves to sell Oriental Weavers China
Oriental Weavers China is the Chinese subsidiary of Oriental Weavers, the world’s largest machine-made carpet manufacturer.
Egyptian tycoon Ahmed El Sewedy’s Elsewedy Electric to build $40-million electrical factory in Tanzania
Elsewedy Electric is an Egypt-based multinational electrical company founded by the Elsewedy family in 1938.
Egyptian tycoon Naguib Sawiris’ property firm Gemini gets $100 million in investment from Abu Dhabi-based Chimera
Gemini is a property developer under Ora Developers, a real estate operator and investment holding.
Orascom Construction, controlled by billionaire Nassef Sawiris, moves to acquire equipment distribution business
Orascom Construction is a leading global engineering and construction contractor.
Moroccan tycoon Abdelali Berrada Sounni’s Dolidol acquires Nigeria’s Mouka Foam in $60-million deal
Dolidol is Morocco’s pioneer manufacturer of branded polyurethane foam and bedding products.
Egyptian businessman Safwan Thabet’s Juhayna Food Industries reports higher earnings as profits surge
Juhayna Food Industries is a leading company specializing in producing, processing and packaging dairy, juice and cooking products.
Egypt’s Ghabbour family gains $15.8 million in 11 days as shares in GB Auto rebound
The wealthy Ghabbour family holds a majority 62.9-percent stake in the leading auto manufacturer.
Egyptian billionaire Yasseen Mansour’s Palm Hills closes seventh securitization bond
The issuance was fully underwritten and co-arranged by several banks, including National Bank of Egypt.
Tunisian tycoon Moncef Mzabi loses $3.1 million in three months as ARTES stock slumps
ARTES is a Tunisia-based automobile retailer established after the acquisition of Renault Tunisie in 1997.
Afriquia Gaz, controlled by Moroccan billionaire PM Aziz Akhannouch, reports $567 million in revenue
As of the time of writing, Akhannouch’s net worth is valued at $2 billion, making him one of the richest men in Africa.