Real estate mogul Hisham Talaat Moustafa set to build $31.82-billion housing project in Egypt
Moustafa is implementing the project through his TMG Holding in partnership with the Egyptian government.
North Africa
Moroccan mogul Alami Lazraq’s shares in real estate giant surge by $7.1 million
Alliances Developpement Immobiliere Ste SA’s shares have risen by 18 percent on the Casablanca Stock Exchange.
Moroccan billionaire Anas Sefrioui’s stake in Douja Promotion Groupe Addoha gains $61.2 million in 35 days
The uptick follows a rise in the company’s shares on the Casablanca Stock Exchange.
Nassef Sawiris’ stake in Orascom Construction drops by $10 million in one month
The company’s share price on the Egyptian Stock Exchange lost six percent of its value since early May.
Egyptian-American tycoon Ahmed Bahjat laid to rest in Egypt
The founder of Egypt’s Bahgat Group passed away after a protracted battle with an unspecified illness.
Sawiris-backed Endeavour to buy Teranga Gold in $1.86-billion deal
The combined company will produce about 1.5 million ounces of gold per year across West Africa.
Tom Vernon’s football academy expands to Egypt with new billionaire owner
Egyptian billionaire Mohammed Mansour has invested $120 million for a controlling stake in the organization.
Royal Family of Morocco’s stake in Attijariwafa Bank gains $275 million in 56 days
The bank’s share price has risen by about six percent since April 1.
Moroccan tycoon Mohamed Bensalah acquires Kenyan insurance firm
The purchase was made for an undisclosed sum.
Egyptian billionaire Nassef Sawiris’ net worth rises by $820 million in May
The surge is largely due to gains in his shares in Adidas and OCI N.V.
Aliko Dangote, Mo Ibrahim join France in deliberating on Sudan’s $5-billion debt cancellation
President of France Emmanuel Macron announced the cancelation as a nod to Sudan’s progress with reforms.
Morocco’s King Mohammed VI extends philanthropic activities in Ghana
His foundation has donated provisions to a polyclinic in Nima in Greater Accra.
Egyptian billionaire Mohammed Mansour donates £100,000 to COVID-19 memorial fund in Knightsbridge
His donation will support building a multi-faith memorial at St. Paul’s Cathedral.
Suez Canal Authority’s $916-million demands unrealistic: Naguib Sawiris
The Egyptian billionaire said the authority’s demands contradict national interests.
Egyptian billionaire Nassef Sawiris’ Fertiglobe records growth in Q1 2021, eyes Abu Dhabi listing
The company has announced a potential move to list on the Abu Dhabi Stock Exchange.
Egyptian billionaire Mohamed Mansour appointed to newly created Investment Advisory Board in UK
The board will serve as the UK government’s foreign investment advisory body to Egypt.