Al-Kharafi family
The passing away of Jassem Al Kharafi, the Kharafi Group’s chairman, means there is a new man at the helm of one of the Gulf’s largest family concerns. Brother Fawzi Al Kharafi now runs the firm, which has an annual turnover of around $5bn and is already active in 25 countries.
The group has been in the news recently over the potential sale of Americana, one of its most high-profile assets. The family is believed to be interested in selling off two thirds of the fast food giant, which has a market value of around $4bn, although the deal fell through in early 2015.
The Kharafi Group has operations in 25 countries around the world, from Senegal to Botswana to Kazakhstan and the Maldives, and has more than 120,000 employees.
The family business has always had strong connections with Egypt, from power stations along the Nile Delta to contracts at Marsa Alam International Airport. Run by Fawzi, Marzouk, Badr (pictured) and Faisal Al Kharafi, the company also has investments in a series of major Gulf blue-chips, including Zain.
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