5 Egyptian businessmen-owned companies whose shares have more than doubled in 2024
These companies illustrate the resilience and adaptability of Egyptian businesses, driven by strong leadership and strategic initiatives.
Dangote’s wealth hits $28.1 billion, secures spot as world’s richest Black person
This feat places him 68th on the Bloomberg Billionaires Index, securing his position among the world’s top 100 richest individuals.
Ahmed El-Sewedy gains $375 million amid 39.6% devaluation of Egyptian pound
Its strong presence across the Middle East and Africa has cemented its status as one of the country’s leading industrial players.
Airtel Africa kicks off $100 million buyback program for shareholders
This initiative follows a similar $100 million buyback completed in March 2024, further underscoring Airtel Africa’s commitment to capital reduction and rewarding shareholders.
Safaricom plans to insure millions of mobile users to increase revenue
Safaricom’s entry into mobile phone insurance is part of its ongoing efforts to expand financial services across East Africa.
Tony Elumelu faces $18 million loss in UBA stake
This highlights the challenges posed by Nigeria’s volatile currency on shareholder wealth.
Suresh Bhagwanji Shah’s stake in I&M Group gains $23 million year-to-date
This strategic move brings together two powerhouse entities and marks a significant step toward consolidating Black-led financial influence.
Moroccan tycoon Anas Sefrioui gains over half a billion dollars from ADH stake
This surge reflects growing investor confidence in ADH, cementing Sefrioui's position among the wealthiest investors on the Casablanca bourse.
Hassan Allam unit to build first international port terminal in Upper Egypt
The move underscores the deepening trade relationship between Egypt and the UAE.
Malawi business tycoon Hitesh Anadkat gains $148.7 million from FMB Capital
This latest surge builds on the strong performance of his stake in 2023, when it increased by MWK178.2 billion ($105.88 million).
Amsons Group acquires $70 million stake in Bamburi Cement, eyes full buyout
The move is part of Amsons’ strategy to consolidate its presence in East Africa’s construction sector.
CI Capital exits $23.6 million investment in Taaleem Management services
The divestment yielded an impressive four times return on invested equity, with an Internal Rate of Return (IRR) of approximately 50 percent.
Mohammed Elsewedy’s fortune up $293 million amid devaluation of Egyptian pound
This highlights his resilience in navigating one of Egypt’s most challenging economic years.
Patrice Motsepe’s Tyme Group, valued at $1.5 billion after $250 million raise
Tyme Group has raised $250 million in its latest funding round, boosting its valuation to $1.5 billion and positioning it among Africa’s few unicorns.
Refinery owned by Africa’s richest man exports petrol to South Africa, three other nations
Dangote Oil Refinery exports petrol to Cameroon, Angola, Ghana, and South Africa, a key milestone in reshaping Africa’s fuel market.
NFL reaffirms partnership with Roc Nation amid allegations against Jay-Z
While the allegations have cast a shadow over Jay-Z, Roc Nation’s NFL partnership appears unaffected.