Table of Contents
Key Points
- Naguib Sawiris to invest $100 million in Morocco to convert fuel motorbikes to electric through BluEV, a subsidiary of Orascom Investment Holding.
- BluEV’s pay-as-you-go battery leasing system cuts motorbike costs by up to 30%, boosting affordability and reducing emissions in city transport.
- Sawiris, worth $8.93 billion, has shifted from telecom to high-impact sectors like clean mobility, holding most of his wealth in cash.
Egyptian billionaire Naguib Sawiris, one of Africa’s wealthiest individuals with over $7 billion in cash according to Bloomberg, is putting $100 million into Morocco’s electric mobility space. The investment will go through BluEV, a company focused on sustainable urban transport.
The $100 million investment, a milestone in Morocco, aims to replace fuel-powered two- and three-wheeled motorbikes with electric alternatives—part of a larger effort to reduce emissions and make daily commuting cleaner and more affordable.
BluEV powers affordable EV transition
Sawiris, one of North Africa’s wealthiest individuals, will carry out the project through BluEV, a subsidiary of Orascom Investment Holding. The company focuses on affordable electric conversion strategies tailored for light vehicles used in daily city transport.
The plan reflects BluEV’s mission to make city travel cleaner, safer, and more cost-effective. Its electric platform offers a battery leasing system with pay-as-you-go pricing, significantly cutting upfront and running costs—by as much as 30 percent—compared to petrol-powered vehicles. The shift to electric also reduces the need for frequent repairs and maintenance.
From telecom to impact-driven investments
Since its founding in 2011, Orascom Investment Holding has primarily focused on telecom, media, and technology. Under Sawiris, the company evolved from Orascom Telecom, originally launched in 1997, and has grown into an investment group. The firm has built a reputation for backing ventures that offer both financial returns and long-term value for communities.
Over the years, Sawiris has steered the company toward new sectors that promise growth and social impact. From energy and real estate to emerging mobility solutions, his investments reflect a mix of business sense and strategic foresight.
Wealth rooted in bold decisions
A turning point in his career came in 2010 when he sold off key telecom assets, including Italy’s Wind Telecomunicazioni and a controlling stake in Orascom Telecom, for $1.5 billion and a 20 percent share in Vimpelcom. The deal brought him $300 million in cash, and he later raised over $4 billion by selling off the Vimpelcom stake.
As of 2025, Sawiris’ fortune has grown by more than $2 billion, reaching $8.93 billion. Much of this increase is tied to his holdings across real estate, mining, telecom, and technology. Notably, $7.48 billion of his wealth is held in cash and cash equivalents, a sign of both liquidity and strategic readiness for future investments.
