This venture comes on the heels of Elsewedy Electric’s $40 million investment in a Tanzanian electrical tools factory in 2021.
Egyptian billionaires
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- Hot News
Orascom Construction, owned by wealthy Sawiris family, signs two major transportation projects in Egypt
The Group’s current and past projects include major projects such as high-speed rail, metro, monorail, railway, and light rail transit
- North Africa
Egyptian billionaire Mohamed Mansour to inject $120 million into Rights to Dream Academy
Mansour, the founder of chairman of Man Capital LLP, has a $3.6-billion fortune according to Forbes.
- Latest News
Led by wealthy Khamis family of Egypt, Oriental Weavers’ profit surges 74 percent y-o-y in Q1 2023
Egyptian businesswoman Yasmine Mohamed Khamis and other Khamis family members own a 56.58-percent controlling interest in Oriental Weavers.
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These billionaires hold 6.1 percent of the country’s total private wealth.
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The devaluation of the pound may have a significant impact on the economy and on the net worth of Egyptian billionaires.
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Egypt’s seven billionaires account for $17.83 billion of Egypt’s $307 billion in private wealth.
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Egyptian billionaire Yasseen Mansour’s Palm Hills to reward shareholders with $16.7-million dividend
Mansour will receive a total payout of $835,000 from the dividend distribution.
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The wealthy Ghabbour family holds a majority 62.9-percent stake in Ghabbour Auto.
- Hot News
Led by Egypt’s richest family, Orascom Construction reports profits of $125.3 million in 2021
The billionaire Sawiris family controls 51.8 percent of the Egypt-based contractor through OS Private Trust Company.