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.
North Africa
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.
Egyptian billionaire Mohamed Mansour partners with GM to study domestic EV production
His Al Mansour Automotive Co is the largest GM dealer in the world and the fifth-largest distributor of Caterpillar Inc.
Egyptian tycoon Hassan Allam’s construction group secures first-ever project in Jordan
Hassan Allam Holding is Egypt’s leading privately owned engineering, construction, and infrastructure group.
Tunisian tycoon Habib Essayeh gains $8.4 million in 2021 as shares in Euro Cycles surge by 32-percent
Euro-Cycles is a Tunisian automotive company specializing in the production of bicycles.
Egyptian steel magnate Ahmed Ezz loses $81 million in four weeks as Ezz Steel shares slump
Ezz Steel is the largest independent steel producer in the Middle East and North Africa.
Moroccan billionaire Othman Benjelloun’s Bank of Africa posts $268.1 million in net profit in 9M 2021
Bank of Africa is a multinational pan-African banking conglomerate with operations in 18 African countries.
Egyptian tycoon Hani Berzi’s Edita Food Industries moves to acquire Egyptian Belgian Company
Edita Food Industries is a leader in the growing Egyptian packaged snack foods market.
Egyptian mogul Nassef Sawiris enters alliance with Emirati investors to further boost clean methanol business
OCI N.V. is a leading nitrogen and hydrogen product manufacturer and distributor.
Egyptian billionaire Nassef Sawiris’ net worth slumps by $190 million in just a week
The decline can be linked to a slump in Adidas’ shares, as investors sell off their positions in the company.
Moroccan magnate Anas Sefrioui loses $75.72 million as ADH shares slump
ADH is Morocco’s largest property developer and operator with real estate programs across the North African country.
Egyptian billionaire Yasseen Mansour’s Palm Hills plans to invest $242 million in 2022
The projected investment for the coming financial year represents a 52-percent increase from last year.
Controlled by Alaouite Royal Family of Morocco, Attijariwafa Bank reports surge in profits in 9M 2021
Attijariwafa Bank is a Moroccan multinational commercial bank and financial services conglomerate based in Rabat, Morocco.
Egyptian tech entrepreneur Ashraf Sabry loses over $10 million in 33 days
With a market capitalization of $1.38 billion, Fawry is one of Africa’s few tech companies worth over $1 billion.