Madkour Group secures $24.6-million credit facility from Suez Canal Bank
This funding marks a strategic advancement in the company’s growth plan, underscoring its commitment to expanding operations domestically and internationally.
Egypt
Egyptian tourism mogul Ayoub Adly Ayoub's Remco reports $18-million loss in H1 2024
Tourism tycoon Ayoub Adly Ayoub’s Remco reports a shocking $18 million loss in 2024. Despite revenues skyrocketing, the company’s profits have evaporated
Orascom Development Egypt secures $155-million loan from IFC
The financing will enhance the company’s financial stability and fund future expansion efforts.
GB Corp’s financial unit receives approval to expand into debt capital markets
This milestone marks a critical step in the company's strategic move into the debt capital markets, broadening its range of financial activities as it seeks to diversify.
Egypt's wealthy Khamis family adds $17 million from Oriental Weavers shares in 6 days
The Khamis family, one of Egypt’s wealthiest, holds a majority stake in Oriental Weavers, a leading carpet manufacturer with a global presence.
Egyptian brothers, Ahmed and Sadek El-Sewedy, emerge as Egypt’s newest billionaires
The rise in the El-Sewedy brothers' fortunes is attributed to an 80.6-percent increase in Elsewedy Electric's share price.
Egyptian multimillionaire Ghabbour family’s stake in GB Corp rebounds above $200 million
This follows an $18.27-million loss between July 18 and Aug. 15, when the market value of their holdings declined from $207.2 million to $188.93 million.
Raya Holdings completes $24.7-million deal to boost growth
This move is seen as a critical step to accelerate Raya's growth trajectory and enhance its operational capabilities.
Orascom Construction partners with Modon for Egypt’s Ras El Hekma mega project
Orascom Construction, a global engineering leader, expands its footprint with the Ras El Hekma mega project.
Adenia partners enters Egypt, strengthening African presence
This marks the firm’s eight location across the continent and underscores its commitment to responsible investing and sustainable development in Africa.
TMG Holding partners with Huawei to launch Egypt's first AI cloud services
Building on their existing relationship in smart cities and sustainable solutions, TMG and Huawei plan to reshape Egypt’s urban landscape.
Palm Hills to buy nearly $40-million stake in Taaleem from Egyptian billionaire Yasseen Mansour
This follows Mansour's acquisition of an additional stake in Taaleem, increasing his holding to 18.3 percent after purchasing shares worth EGP505.6 million ($10.46 million).
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rebounds above $1.3 billion
This recovery follows a brief decline of EGP6.03 billion ($124.2 million) between July 9 and Aug. 1
Construction giant led by North Africa's richest family joins efforts to expand wind farm in Egypt
Orascom Construction, a global engineering leader, expands its renewable energy portfolio in Egypt.
Egypt’s richest man Nassef Sawiris's net worth grows by $1.15 billion
His wealth increase puts him among the select African billionaires whose wealth has swelled by over a billion dollars this year.
Egyptian steel magnate Ahmed Ezz’s stake in Ezz Steel rises by over $100 million
In just two weeks, the Egyptian steel magnate has seen his stake in the steel giant appreciate by more than $100 million amid soaring investor confidence.