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.
North Africa
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.
Moroccan tech tycoon Karim Benjelloun’s Disway sees over $193 million in revenue in 2021
Disway’s market cap is $150.3 million, while Benjelloun’s 7.36-percent stake is worth $11.1 million.
Led by Mostafa Kandil, SWVL raises $21.5-million PIPE funding ahead of U.S. listing
The transaction is part of a proposed business combination with the SPAC, Queen’s Gambit Growth Capital.
Distribution tycoon Khaled Mahmoud’s MTI looks set to begin selling Apple products in Egypt
The automotive and consumer electronics distributor announced that it has reached an agreement with Apple Trading Egypt.
Egyptian tycoon Hisham Talaat Moustafa pledges $635,000 to Egypt’s national team
The multimillionaire made the pledge during a phone call with the country’s minister of youth and sports.
Egyptian tycoon Hassan Allam-linked construction firm secures wastewater treatment plant contract
Hassan Allam Holding is Egypt’s largest privately held engineering, construction and infrastructure company.
Assem Ragab-led Credit Agricole Egypt records over $102 million in net profits in 2021
The increase in net profit was fueled by a 2.4-percent increase in net-interest income.
Egyptian tycoon Hend El-Sherbini loses $20 million from stake in healthcare services provider, IDH
El-Sherbini owns a 25.5-percent stake in the group, or 152,982,356 ordinary shares.