Egypt’s richest man Nassef Sawiris loses $621.8 million due to slump in Adidas shares
Investors fear supply chain disruptions caused by COVID-19 could impact Adidas’ sales.
North Africa
Sawiris-backed Endeavour concludes refinancing with $500-million note issuance
The latest issuance will pay interest semiannually at a rate of five percent per year, maturing on Oct. 14, 2026.
Sam Darwish’s IHS Towers makes moves to erect and lease telecom towers in Egypt
IHS Towers is a Nigeria-based telecommunication infrastructure company, operating internationally.
Egyptian property tycoon Hisham Talaat Moustafa looks to Iraq, Saudi Arabia for growth
Iraq’s instability over the past 30 years has created a demand for housing projects.
Egyptian billionaire Nassef Sawiris’ Fertiglobe plans IPO
The deal will be the first onshore listing of a free zone company in the UAE.
Said Alj-led Moroccan insurance company Saham Assurance posts $42.4 million in mid-year profits
Its mid-year profit grew by 469.4 percent compared to last year.
Led by wealthy Moroccan Tazi and Berrada families, Sothema posts $14.45 million in H1 profits
The Morocco-based pharmaceutical company specializes in medicine production and sales.
Moroccan tycoon Adil Douiri loses $763,100 in 27 days as Mutandis stock price declines
Mutandis is an industrial and commercial group focused on consumer goods in Morocco and Africa.
Meet the five wealthiest businessmen in Morocco
Morocco is part of an elite group of five countries that account for half of Africa’s total private wealth.
Tunisian tycoon Rached Horchani gains $5.2 million as BH Bank shares increase by double digits
BH Bank is a Tunisian integrated group that provides a wide variety of financial services.
Moroccan auto mogul Hakam Abdellatif earns $8.4 million from his stake in Auto Hall in 56 days
Auto Hall is a Moroccan automotive group active in the distribution of multi-brand rolling stock in Morocco.
Ten ultra-wealthy Tunisian tycoons you’ve never heard of
Tunisian businessmen have accumulated significant wealth over the years from key companies central to the local economy.
Real estate tycoon Talaat Moustafa signs agreement with AZADEA to launch Open Air Mall in Madinaty City
Formerly a suburb, Madinaty is an upscale, greener, less crowded area in Egypt.
Moroccan tycoon Karim Benjelloun gains $1.7 million as shares in Disway SA surge to all-time high
Disway SA is the first technology distributor in Morocco, Africa’s fifth-largest economy in terms of GDP.
Affluent Moroccan Berrada family earns $118 million from equity stake in Sothema
Alongside the multimillionaire Tazi family, the Berradas own a majority stake in the drug manufacturer.
Egyptian tycoon Medhat Khalil loses $114.3 million as shares in Raya Holding decline by 40 percent
The multimillion-dollar loss in Khalil’s stake was due to a sustained sell-off on the Egyptian Stock Exchange.