El-Sewedy family’s investment in electrical equipment group rebounds above $1 billion
The family’s wealth had taken a hit between March 14 and 28, with the market value of their stake tumbling EGP5.36 billion ($324.08 million).
Egypt
Egyptian metals magnate Ahmed Ezz’s steel company cuts rebar prices again
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel (or 329,816,198 shares).
Egyptian tycoon Hisham Talaat Moustafa suffers $180-million loss in 26 days
Moustafa holds a controlling stake of 43.16 percent in the group, representing 890,633,483 ordinary shares.
Egyptian tycoon Safwan Thabet’s Juhayna records $340-million revenue in 2023
Juhayna’s exceptional financial results for 2023 highlight its resilience in navigating the dynamic landscape of the fast-moving consumer goods industry in North Africa.
Adidas shares owned by Egypt’s richest man Nassef Sawiris surpass $2.7 billion
The recent surge in the share price of Adidas has bolstered Sawiris’ wealth significantly, with his stake now valued at $2.71 billion.
Egyptian billionaire Elsewedy family’s foundation set to skill up 20,000 students
Established in 2011, the Elsewedy Technical Academy has been dedicated to providing high-quality technical education in line with global standards.
Egyptian billionaire Nassef Sawiris’ OCI N.V. posts $392-million loss in 2023
This is attributed to lower global nitrogen pricing and a reduction in natural gas prices in Europe and the United States following the exceptional highs of 2022.
Egypt’s wealthy Khamis family loses nearly $90 million as Egyptian pound tumbles
Despite recent financial headwinds stemming from the Egyptian pound’s devaluation, the Khamis family remains among the country’s most affluent and prominent investors.
Egypt’s El-Sewedy family loses billionaire status as Elsewedy Electric shares tumble
Their 68.1-percent stake in Elsewedy Electric, once valued at $1.29 billion on March 14, has declined to $970.05 million at the time of drafting this report.
Egyptian tycoon Alaa Arafa’s GTEX lists on EGX, market cap nears $20 million
This move signifies a pivotal moment for GTEX, opening doors for public ownership and underscoring its commitment to global expansion.
Egyptian tycoon Hani Berzi loses $207 million amid devaluation and share dip
Despite the recent decline in the market value of his stake, Berzi remains one of the richest investors on the Egyptian Exchange.
Egypt’s second-richest person Naguib Sawiris sees net worth top $6.5 billion
Sawiris’ recent surge underscores his significant influence in the Middle East and North Africa and his ascent among the world’s elite billionaires.
Egypt’s richest man Nassef Sawiris makes $230 million in just 2 weeks
Egypt’s richest man Nassef Sawiris has experienced a remarkable upswing in his fortunes, with his net worth skyrocketing by $230 million in…
Egyptian tycoon Ahmed Ezz loses $422 million amid devaluation and share dip
Despite this significant downturn, Ezz remains a top figure in Egypt’s business landscape.
Egyptian billionaire Ahmed El-Sewedy’s firm chosen for Qatar cable project
The project entails the establishment of electricity supply to NFS project facilities, involving the design, engineering, procurement, and installation of two 400kV cables.
Egyptian tycoon Medhat Khalil’s firm eyes expansion via acquisition ahead of IPO
Raya Information Technology is actively pursuing the acquisition of a firm specializing in outsourcing and application development.