Algeria’s richest man Issad Rebrab calls on government to encourage investments and introduce reforms
Rebrab is the head of the Algerian billionaire Rabrab family and the world’s second-richest Arab after Nassef Sawiris.
North Africa
Egypt’s Khamis family loses $27.2 million in nearly seven weeks as shares in Oriental Weavers retreat from record 41-month high
Oriental Weavers is the world’s largest manufacturer of machine-made carpets.
Egyptian billionaire Nassef Sawiris gains $230 million in two weeks as Adidas shares rebound from five-month low
Since the start of the year, Sawiris has seen his net worth increase by $264 million from $6.6 billion on Dec. 31, 2020.
Led by Tunisian Ben Yedder family, Ennakl Automobiles posts $153 million in revenue in 9M 2021
Ennakl is a Tunisian auto retailer selling cars under the Volkswagen, Audi, Seat and Porsche brands.
Moroccan businessman Alami Lazraq loses $7 million as shares in country’s largest homebuilder slump by nearly 12 percent
ADI is Morocco’s largest home and hotel builder. Lazraq holds a majority 51.7-percent stake in the company.
Egyptian businesswoman Hendi El-Sherbini loses nearly $20 million as shares retreat from three-year high
IDH is a leading consumer healthcare group in the Middle East and Africa.
Businessman Hassan Allam bags another irrigation project from Egyptian authorities
This comes a month after Egypt awarded Allam’s company a $220-million infrastructural deal.
Businessman Mohamed Frikha’s Syphax Airlines partners with Tui Russia to transport 50,000 tourists to Tunisia in 2022
Syphax Airline is a privately-held charter airline founded in 2011 by Tunisian businessman Mohamed Frikha.
Egyptian steel tycoon Ahmed Ezz gains $71 million in 21 days as Ezz Steel shares see double-digit surge
The steelmaker’s share price has surged due to investor cherry-picking activities on the Egyptian Stock Exchange.
Tunisian auto mogul Habib Essayeh gains $7.12 million in five months from stake in Euro-Cycles
Euro-Cycles is a Tunisian automotive company specializing in the production of bicycles for export.
Ashraf Sabry’s Fawry announces investment in Sudan’s Alsoug online marketplace
Alsoug is a Sudanese startup that allows consumers to buy and sell products and services online.
Moroccan billionaire Anas Sefrioui loses $62.3 million in 71 days as ADH shares slide
Douja Promotion Groupe Addoha (ADH) is a Morocco-based real estate developer and construction company.
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.
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.