Real estate tycoon Talaat Moustafa signs agreement with AZADEA to launch Open Air Mall in Madinaty City
Formerly a suburb, Madinaty is an upscale, greener, less crowded area in Egypt.
North Africa
Moroccan tycoon Karim Benjelloun gains $1.7 million as shares in Disway SA surge to all-time high
Disway SA is the first technology distributor in Morocco, Africa’s fifth-largest economy in terms of GDP.
Affluent Moroccan Berrada family earns $118 million from equity stake in Sothema
Alongside the multimillionaire Tazi family, the Berradas own a majority stake in the drug manufacturer.
Egyptian tycoon Medhat Khalil loses $114.3 million as shares in Raya Holding decline by 40 percent
The multimillion-dollar loss in Khalil’s stake was due to a sustained sell-off on the Egyptian Stock Exchange.
Here are five super-rich Algerians worth knowing aside from Issad Rebrab who is worth $4.8 billion
Algeria is expected to be home to more than 6,000 millionaires by the end of the decade.
Tunisian tycoon Moncef Mzabi gains $7.5 million in 140 days as shares in ARTES surge by 52 percent
ARTES is a Tunisia-based automobile retailer established after Mzabi and his brothers acquired Renault Tunisie in 1997.
Egyptian-British industrialist Assem Allam in talks with Turkish businessman Acun Ilicali to sell Hull City A.F.C
Allam is an Egypt-born tycoon based in East Riding of Yorkshire.
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.
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.