Ahmed Ezz’s stake in Ezz Steel nears $840 million
Ezz Steel’s scale positions it as an industry leader, surpassing competitors like Saudi Arabia’s Hadeed and Emirates Steel.
North Africa
United Bank gears up for landmark IPO on Egyptian Exchange
IPO set to boost market activity, attract investments, and reinforce Egypt’s economic reforms.
Medhat Khalil loses $2.96 million from Raya Holding
Khalil holds a 17.99 percent majority stake in Raya Holding, equivalent to 385,208,477 shares.
Madinet Masr’s net profit reaches $52 million as new projects fuel growth
Net profit rose by 88.9 percent, exceeding $50 million, as contracted sales more than doubled and revenue surged 62.9 percent.
TMG reports $9.4 billion in sales, fueled by booming demand for luxury real estate
TMG Holding's SouthMED and Benan projects fuel $9.4 billion in sales, showcasing the strong demand for luxury coastal living in Egypt and Saudi Arabia.
El-Sewedy brothers lose $175 million after becoming Egypt's newest billionaires
Ahmed El-Sewedy, CEO of Elsewedy Electric, and his brother Sadek, the company’s non-executive chairman, hold a majority 51.05 percent stake.
Alami Lazraq’s ADI stake surges by $54.4 million
Lazraq, who controls 51.7 percent of ADI, owns 11.4 million shares, making him the largest shareholder in the company.
Hani Berzi’s stake in Egypt’s packaged food company surges above $190 million
Over the past 15 days, Berzi's stake has surged by EGP823.77 million ($16.92 million), increasing the market value of his holdings above $190 million.
Beltone raises $27.3 million in successful securitization issuance
Beltone Leasing and Factoring’s first securitization issuance signals growth and investor confidence in Egypt's non-banking financial sector.
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.
Raya Foods secures $40-million investment from Helios
This allows Helios to acquire a 49 percent stake in Raya Foods, significantly enhancing the company’s growth trajectory and operational capabilities.
Moroccan tycoon Adil Douiri's stake in packaged food company nears $20 million
As Douiri's fortune rises, his strategic vision for Mutandis cements his role as a key player in Morocco's business landscape and a leader in the region's consumer goods sector.
Egyptian billionaire Yasseen Mansour’s Palm Hills to increase stake in Macor Hotels
Palm Hills, which already owns 60.3 percent of Macor Hotels, will raise its ownership to 69.8 percent by acquiring a 9.5-percent stake.