Egyptian billionaire Mohamed Mansour, who is ranked as the third-richest man in Egypt and the tenth-richest in Africa, has rebounded from a sluggish performance in 2022 with a $400 million increase in his net worth since the start of 2023.
According to data tracked by Billionaires.Africa, Mansour’s net worth has risen from $2.5 billion on Jan. 1 to $2.9 billion at the time of writing, thanks to the strong performance of his well-diversified portfolio.
The $400-million bump in his net worth, which solidifies his position as one of the wealthiest individuals on the continent, can be linked to the performance of his diverse portfolio, which includes a stake in the Mansour Group, a family-run conglomerate valued at over $6 billion by Forbes.
Mohamed Mansour has a stake in Egypt’s only renewable energy solutions provider, Infinity Group
Aside from Mansour Group and its subsidiaries, the Egyptian billionaire owns a substantial stake in Infinity Group, a leading renewable energy company he co-founded in 2014 to develop clean energy solutions across multiple sectors and scales.
In July 2022, Infinity Group, Egypt’s only dedicated renewable energy solutions provider led by Mohamed Mansour, partnered with the Africa Finance Corporation (AFC) to acquire Lekela Power, making Infinity the continent’s largest renewable energy company.
Almost three months ago, the renewable energy company, in partnership with Masdar and Hassan Allam Utilities, signed a strategic agreement with prominent Egyptian state-backed institutions to develop a green venture with a capacity of 2-gigawatts in the Suez Canal Economic Zone (SCZONE).
This agreement is a result of the company’s previous success in establishing two green hydrogen production plants in Egypt, one in the SCZONE and the other on the Mediterranean.
