7 companies owned by Egypt’s second-richest man Naguib Sawiris

Naguib Sawiris, Egypt’s second-richest man and a prominent African billionaire, is a top-tier entrepreneur and business leader in North Africa and the Middle East.

He hails from Egypt’s most affluent family. He has made his fortune primarily through his gold mining investments as well as lucrative telecom ventures, such as his sale of Vimpelcom in 2011 and 2012, which brought in over $4 billion.

With a net worth of $5.45 billion, Sawiris stands as a prominent figure in the Arab world and ranks among the top 500 wealthiest individuals globally, according to Bloomberg.

Billionaires.Africa has identified and documented several companies and holdings associated with Sawiris, including seven firms where he holds substantial or minority stakes.

1. Orascom Investment Holding
   Orascom Investment Holding is a prominent holding company with diverse investments spanning Egypt, North Korea, Pakistan, Lebanon, and several other North African and Middle-Eastern countries. The company’s core activities are segmented into GSM, media, technology, and cable businesses. Sawiris serves as the Executive Chairman of Orascom Investment Holding.

2. Endeavour Mining Plc

Endeavour Mining Plc operates as a distinguished gold producer in West Africa, boasting ownership of five fully-operational mines: Cowal in New South Wales, Mungari in Western Australia, Mt Rawdon and Ernest Henry in Queensland, and Red Lake in Ontario, Canada. The company extends its reach across Senegal, Côte d’Ivoire, and Burkina Faso, along with a portfolio of advanced development projects and exploration assets in the Birimian Greenstone Belt across West Africa.

3. Evolution Mining
   Evolution Mining is a prominent Australian-based gold mining company with active projects throughout Australia and Ontario, Canada. Evolution takes pride in owning and operating mines at Cowal, New South Wales; Mt Carlton, Mt Rawdon, and Ernest Henry, Queensland; and Mungari, Western Australia.

4. Orascom Construction
   Established in 1950 by the late Egyptian tycoon Onsi Sawiris, Orascom Construction is a distinguished engineering and construction contractor that operates in the United States, the Middle East, Africa, and Central Asia, serving both public and private clients. The company specializes in critical projects encompassing infrastructure, industrial, and upscale commercial developments across the Middle East, Africa, and the United States. Notably, Naguib Sawiris holds a substantial 5.52-percent stake in this construction powerhouse.

5. Gemini Global Development Egypt
   Launched in 2016, Gemini Global Development holds a $2.5-billion global development portfolio, including the Silver Sands mixed-use project in Grenada, Ayia Napa Marina in Cyprus, and eighteen luxury residential projects in Islamabad, Pakistan. Sawiris entered into a significant deal with Abu Dhabi’s Chimera, in which Chimera, through its subsidiary, subscribed to a capital increase in Gemini Global Development Egypt (Gemini) in exchange for a substantial minority equity stake in Gemini.

6. La Mancha Holding
   La Mancha Holding, a Luxembourg-based investment vehicle managed by Sawiris, primarily focuses on the precious and energy transition metals sectors. As the company’s chairman, Sawiris has made notable investments in Evolution Mining, Endeavour Mining, and Golden Star Resources, with a particular emphasis on gold exploration and production in Africa, Western Australia, and South America since 2012.

7. Globe Holdings
   Through Globe Holdings, Sawiris successfully divested his 88 percent controlling stake in the pan-European pay TV and video news network, Euronews, in December 2021. The purchase was completed by Lisbon-based Alpac Capital in July 2022, following approval from the French government.