Egyptian businessman Ashraf Sabry loses more than $8.5 million from stake in fintech unicorn
Sabry, who founded the payment platform in 2008 and pioneered electronic bill payments in Egypt, owns 2.345 percent of the company.
North Africa
Egyptian multimillionaire Medhat Khalil’s Raya Holding to launch e-payment company
Raya Holding is an Egyptian investment conglomerate founded in 1999.
Egyptian billionaire Yasseen Mansour’s real estate firm launches $206.5-million Sukuk bond
The proceeds from the issuing of Sukuk bonds will be used to build Palm Hills’ Badya creative city project.
Led by Ibrahim Farag, Egyptian startup Nexta raises $2.2 million from institutional investors
Farag and Ahmed Hisham founded the Egyptian fintech startup in 2021.
Egypt’s richest man Nassef Sawiris has now lost $566 million since start of 2022
Sawiris’ net worth is still assessed at $5.93 billion.
Egyptian businessman Medhat Khalil’s Raya Contact Center reports 54-percent drop in profit
Raya Contact Center is a Cairo-based business-process and contact center outsourcing services company.
Egyptian real estate mogul Hisham Talaat Moustafa to pocket $9.65 million in dividends
Moustafa controls a 43.16-percent stake in the conglomerate for the Talaat Moustafa family.
Algerian tycoon Ali Haddad, others forfeit assets worth $4.2 billion to gov’t in one month
Earlier, Haddad and other businessmen were sentenced to lengthy prison sentences in corruption trials.
Egyptian tycoons Hassan Allam, Ahmed El Sewedy back logistics startup Naqla with $10.5 million
Naqla has transported 4.6 million tonnes of goods in over 35 zones in Egypt since its inception over five years ago.
Israeli Marom Energy buys stake in Moroccan exec Moundir Zniber-led Gaia Energy
Zniber launched Gaia Energy in 2008 to encourage the development of renewable energies in Morocco.
Egyptian billionaire Yasseen Mansour’s Palm Hills reports $54.5 million in profit in 2021
The group’s market capitalization is valued at $284.57 million.
Egyptian billionaire Naguib Sawiris advises gov’t on how to deal with rising oil, wheat prices amid Russia-Ukraine crisis
His advice comes almost two weeks after he warned Egypt’s government to stockpile wheat.
Qatari businessman Moutaz Al-Khayyat acquires $18.2 million shares in Egypt-based consumer goods manufacturer
Juhayna Food Industries is a market leader in the production, processing and packaging of dairy, juice and culinary goods.
Moroccan industrial tycoon Adil Douiri loses $1 million from stake in Mutandis
Mutandis has become a leading player in the Moroccan consumer goods market under Douiri’s leadership.
Linked to Malawian tycoon Hitesh Anadkat, Letshego posts $62.8 million in profit in 2021
Letshego’s market cap is valued $313.4 million, while Anadkat’s 2.76-percent stake is worth $8.6 million.
Egyptian businessman Loutfy Mansour says ‘he is not pursuing bid to buy Chelsea’ from Roman Abramovich
Mansour is the CEO of Man Capital, the private equity investment business of the Mansour Group.