Egypt’s second-richest man unveils $1.2 billion in investment projects in Uzbekistan
The announcement came during a meeting between Egypt’s second-richest man Naguib Sawiris and Uzbek President Shavkat Mirziyoyev.
The announcement came during a meeting between Egypt’s second-richest man Naguib Sawiris and Uzbek President Shavkat Mirziyoyev.
Sawiris, Egypt’s second-richest billionaire, faces a net-worth decline amid subdued gold prices.
Naguib Sawiris has defended his brother Samih’s statements on the difficulty of doing business in Egypt.
Sawiris emphasized that the partnership provides a viable solution to transform the transport sector in Egypt and the region.
Sawiris owns a 70-percent stake in La Mancha Resources, a closely held company that invests in gold assets.
Sawiris predominantly holds his wealth in cash and closely held assets.
Although Sawiris has no direct exposure to Silicon Valley Bank, his invested companies do.
Gemini is a real estate developer that is part of Ora Developers.
The family’s combined wealth includes the fortunes of Naguib, Samih, and Nassef Sawiris.
Sawiris is one of the richest billionaires in Africa and the second-richest man in Egypt.
Orascom Investment Holding maintains investments in the telecom, media, and technology sectors.
Ora Developers is a real estate operator and joint stock company.
Sawiris recently announced the planned investment move.
Orascom Investment Holding maintains investments in the telecom, media, and technology sectors.
Orascom Investment Holding reported a consolidated profit of $4.83 million in the first half of 2022.
In the last two years, Sawiris’ net worth has grown by $400 million.