Swvl, Egyptian startup led by Mostafa Kandil, acquires Turkish firm in $40-million deal
Kandil stated that with the acquisition of Volt Lines, Swvl will be positioned to deepen its presence in Europe.
Egyptian billionaire
Egyptian tycoon Hend El-Sherbini’s IDH reports $80 million in profit as COVID-19 tests drive growth
IDH is a leading consumer healthcare group in the Middle East and Africa.
Billionaire Yasseen Mansour’s Palm Hills Developments budgets $243 million for 2022
Palm Hills Developments has set aside $243 million for development work in 2022.
Nassef Sawiris’ stake in OCI N.V. is now valued at more than $3 billion
Meanwhile, his stake in German sportswear behemoth Adidas is valued at $2.59 billion.
Egyptian auto magnate Raouf Ghabbour plans to establish assembly plant in Kenya
Ghabbour founded GB Auto in 1985 as a manufacturer of automobiles, buses, lorries and motorcycles in Egypt.
Egyptian investor Tarek Assaad’s VC firm, Algebra Ventures, secures $15 million in funding from World Bank
Assaad is also the managing partner of Ideavelopers, where he has managed $50 million in investments since 2009.
Nassef Sawiris, Egypt’s richest man, is now richer than Canadian billionaires Linda Campbel and Gaye Farncombe
Sawiris’ net worth has recently risen due to a surge in the value of his industrial assets.
UAE’s largest bank, FAB, has withdrawn its offer for majority stake in Karim Awad’s EFG Hermes
The disclosure comes two months after the bank announced its plan to acquire a 51-percent stake in EFG Hermes Holding.
Ashraf Sabry’s Fawry gains $53 million in single day after seeing over $123.4 million in block deals
Fawry is one of Africa’s leading fintech companies.
Egyptian tycoon Hani Berzi’s Edita Food Industries plans to invest $54.5 million in three years
Edita’s planned investment is consistent with its intention to develop the region’s food manufacturing position.
Led by Egyptian executive Karim Awad, EFG Hermes plans to increase its capital base by $52.9 million
EFG Hermes will issue one share for every five shares held by shareholders.
Egyptian billionaire Nassef Sawiris tops list of richest Arab billionaires
Despite losing $600 million in net worth, Sawiris remains the richest Arab billionaire on the Forbes list of the world’s richest people.
Egyptian tycoon Hani Berzi’s Edita Food Industries launches first overseas production facility in Morocco
The new facility will be run by Edita’s Moroccan subsidiary, Edita Food Industries Morocco.
Egyptian billionaire Nassef Sawiris recovers from deficits as net worth exceeds $6.6 billion
With a total net worth of over $6.6 billion, Sawiris remains the richest man in Egypt and the 389th richest man in the world.
U.S. resort firm, Vail, acquires majority stake in Swiss resort firm linked to Egyptian billionaire Samih Sawiris
Switzerland-based mountain resort company, ASA is majority-owned by Samih Sawiris.
Egyptian billionaire Naguib Sawiris’ La Mancha moves to invest $10 million in graphite mining firm
The cash proceeds invested by La Mancha will be deployed by SRG to develop its Lola graphite project in Guinea.