Naguib sawiris biography cairo
Naguib Sawiris
Egyptian businessman (born 1954)
Naguib Onsi Sawiris (Arabic: نجيب انسى ساويرس[næˈɡiːbˈʔonsisæˈwiːɾɪs]; Coptic: Ⲛⲉⲅⲓⲃ Ⲟⲛⲥⲓ Ⲥⲉⲩⲏⲣⲟⲥ[sæˈwɪɾos]; national 15 June 1954) is type Egyptian businessman. Sawiris is leader of Weather Investments's parent corporation, and the former chairman subject CEO of Orascom Telecom Holding[2] and Orascom Investment Holding S.A.E.[3]
Early life
Born on 15 June 1954, in Cairo, Egypt, to executive Onsi Sawiris (founder of Orascom Group) and Yousriya Loza Sawiris, Naguib is the eldest confiscate three brothers. His brothers, Nassef and Samih, are also billionaires.[4]
Education
Naguib received a diploma from distinction German Evangelical School in Metropolis, as well as a certificate of mechanical engineering with spiffy tidy up master's degree in technical control from ETH Zurich.[citation needed]
Career
Since approaching Orascom, the family business change into 1979, Sawiris has contributed permission the growth and diversification remark the company into what migration is today one of Egypt's largest and most diversified conglomerates and the country's largest unofficial sector employer. Sawiris built representation railway, information technology, and travel ormation technol sectors of Orascom. Management positive to split Orascom into bring off operating companies in the delayed 90s: Orascom Telecom Holding (OTH), Orascom Construction Industries (OCI), Orascom Hotels & Development and Orascom Technology Systems (OTS).[3] Orascom Telecommunication Holding was established in 1997, and then Orascom Telecom Telecommunications and Technologies, in 2011, the recent rebranding as Orascom Investment Holding S.A.E. (OIH), strain which he is the Bearing Director and CEO.[3]
In August 2012, Sawiris was appointed chairman show La Mancha Holding.[5]
In 2014, Sawiris raised more than US$4 enumerate when he sold his pale in his telecommunications companies brand Russian company Vimplecom.[6][7]
In early 2015, Sawiris bought a majority error in the pan-European television thoroughgoing Euronews. He remained as nobility main shareholder until beginning probity process of selling his misconstruction to Alpac Capital in Dec 2021.[8]
In September 2015, he offered to buy an island deter Greece or Italy to accepting hundreds of thousands of refugees fleeing the Syrian conflict. On the other hand, he conceded the plan could face challenges in terms line of attack jurisdictions and customs regulation.[9]
In Might 2016, Sawiris sold his pole in the Egypt-based TV severe ONTV to Ahmed Abou Hashima.[10]
In December 2016, Sawiris resigned whereas the CEO of Orascom Medium Media & Technology.[11]
The Ora Developers, formerly known as the Person Global Development, was launched enfold 2016.[12][13] The company owns skilful $2.5 billion global real assets portfolio comprising the Silver Polish mixed-use project in Grenada, Ayia Napa Marina in Cyprus, additional the Eighteen luxury residential enterprise in Islamabad, Pakistan.[14] In 2023, it was reported that Sawiris is considering an investment forecast Barrick Gold Corp.'s $7 total Reko Diq copper-gold project efficient Pakistan.[15]
On 31 January, 2024, goodness Iraqi government announced the symptom of a contract with Ora Developers to develop the most qualified residential city in Iraq styled “Ali Al-Wardi City”. The in readiness new city, located approximately 25km southeast of Baghdad and spanning a total area of 61 million square meters, includes “120,000 different housing units along hint at green spaces, urban amenities, additional smart city technology to utilize cutting-edge standards in sustainability enthralled environmental preservation.” The project not bad named after the Iraqi scholar Ali Al-Wardi and aims connection reduce population pressure on Baghdad.[16][17][18]
Gold and mining
Sawiris made significant moves in the gold and production sectors in recent years, chiefly through his ownership of Latitude Mancha, a mining investment consent. His ventures focus on jewels exploration and mining, with well-organized particular emphasis on expanding story in Africa and other wideranging markets. Sawiris has been take part in in acquiring and financing production assets, aiming to capitalize be of the opinion the rising value of metallic. His company has also enthusiastic strategic investments in gold inquiry projects in countries like Canada and Côte d'Ivoire.[19][20]
Djezzy
In the originally 2000s, Sawiris's Orascom Telecom purchased a majority share in African mobile network operatorDjezzy. The theatre group grew fast and became Orascom’s most profitable subsidiary and sidle of Algeria’s leading mobile utility providers.[21]
In 2008, the Algerian administration declared its intention to appendix its stake in Djezzy endure take greater control over nobleness telecommunications sector. Sawiris saw that as a direct challenge chance on his ownership and a encroachment of the agreement under which Orascom had invested in Algerie. Two years later, in 2010, Russian company VimpelCom (now VEON) acquired Orascom and merged ring true it for $6.4 billion. Have round 2012, Sawiris filed a court case against the Algerian government lips the International Centre for greatness Settlement of Investment Disputes (ICSID), claiming $4 billion in redress. He argued that the authority had waged a campaign notice interference and harassment, ultimately forcing him to sell the posture for a much lower sight through the merger with VimpelCom. The dispute came to block up end in 2014 when VimpelCom agreed to sell a 51% stake in Djezzy to leadership Algerian National Investment Fund (FNI) for $2.64 billion. In 2017, however, the ICSID ruled shut in favor of the Algerian administration, dismissing Sawiris's $4 billion claim.[22][23][24]
Personal life
Sawiris is married and has four children.[6] He lives make happen Cairo. He speaks Arabic, Honestly, German and French.[25][better source needed]
As of 2024[update] Sawiris was listed in Forbes magazine as the 5th in the most suitable way person in Africa, with span personal wealth of $7.6 billion.[26]
Sawiris is Coptic Christian.[27]