Egyptian tech tycoon Ashraf Sabry earns $4.5 million in 17 days as shares in Fawry rebound
The multimillion-dollar gain in his stake is due to investors reacting positively to the group’s half-year results.
North Africa
Egypt’s affluent Khamis family earns $75.3 million as shares in Oriental Weavers surge to 41-month high
Oriental Weavers is one of the largest carpet manufacturers in the world.
Jose Antonio Primo-led LafargeHolcim Maroc posts resilient results as revenues and net profit soar
The growth in the group’s revenue in the first half of 2021 led to a triple-digit surge in net profit.
Egyptian billionaire Nassef Sawiris’ net worth increases by $260 million in 24 days
Sawiris’ net worth between Aug. 20 and Sept. 13 increased from $6.67 billion to $6.93 billion.
Moroccan billionaire Aziz Akhannouch’s party secures majority of seats in legislative elections
Meanwhile, the ruling Development Party secured only 12 seats.
King Mohammed VI of Morocco appoints billionaire Aziz Akhannouch as head of government
In 2011, Morocco introduced reforms allowing the king to choose the prime minister from the largest party in parliament.
Egypt awards infrastructure projects worth $220 million to construction tycoon Hassan Allam
Hassan Allam Holdings will construct two stations and four bridges as part of a high-speed train project.
Real estate magnate Samih Sawiris proposes fund to ignite Egypt-Oman relations
Sawiris also proposed to establish an umbrella organization to support businessmen from the two countries.
Tunisian politician and mogul Moncef Sellami gains $7.1 million as One Tech shares surge
OneTech is a global industrial group with interests in automobiles, energy and industry.
Egyptian billionaire Nassef Sawiris earns $8.8 million as Orascom shares rebound
The $8.8-million gain was due to Orascom Construction’s share performance on the Egyptian Stock Exchange.
State-controlled HDB signs partnership deal with Elsewedy Electronics to build third technical academy
The academies offer a secondary-level technical education in electrical skills meeting international standards.
Son of late Sothema Founder Omar Tazi gains $25.1 million in four days as company shares rebound
Moroccan businessman Mohammed Tazi has seen the market value of his stake skyrocket this week.
Politician Moulay Hafid Elalamy signs amended deal with Stellantis Group on Morocco’s behalf
The newly amended agreement was signed on Sept. 3 in Casablanca, Morocco’s capital.
Tunisian businessman Mehdi Tamarziste’s stake in UBCI loses $3.7 million in 132 days
The multimillion-dollar loss in his stake was triggered by investor profit-taking actions.
Tunisian director Khaled Fakhfakh earns $1.1 million as BIAT shares soar by 21 percent in 153 days
Shares in the bank have increased by double digits since the start of the year.
Naguib Sawiris-led Orascom Financial Holding trims stake in Beltone to 59.22 percent
OFH sold 9 million shares at $0.15 per share, totaling $1.34 million.