Naguib Sawiris: business overview
Naguib Sawiris is among Egypt’s and the Middle East business communities’ most influential figures. He is the chairman of Weather Investments. Naguib is also instrumental in the management of the Orascom conglomerate, a family business founded by his father, Onsi Sawiris. In 2024, the entrepreneur was fifth on Forbes’ list of Africa’s richest people. His net worth is reportedly US$7.6 billion.
The beginning of his career
Sawiris began his professional career in 1979 when he joined the family business, Orascom. At that time, it was already the largest business in Egypt in terms of market capitalisation. At Orascom, he took over management of road and railway infrastructure construction projects. However, upon delving deeper into the business processes, he saw the potential for a major transformation of the company.
During this period, Orascom’s activities centred on construction contracts. Sawiris transformed the company into a diversified holding company specialising in the following areas:
– production of building materials and structures;
– operation of new industrial and social facilities;
– production and supply of electronic equipment;
– development of telecommunication systems.
Naguib paid special attention to the IT sector, turning Orascom into one of the largest suppliers of software and equipment on the local market. Between 1991 and 1993, the company distributed products of such global leaders as Microsoft, IBM and Hewlett-Packard.
Sawiris’ projects
As well as working in the family business, Naguib is developing his projects. In 2024, he launched Moniify, a digital platform focused on emerging markets. The platform provides business and financial news for countries in Africa, the Middle East, and Latin America. Moniify is an alternative to Western media and is designed to develop the regional media landscape.
Naguib is investing in many areas, including Egypt’s tourism industry. At the end of 2024, the businessman announced plans to invest in the construction of two hotels. These will be near the Pyramids and the Sphinx Airport. The total investment amounted to US$150 million. In addition, Sawiris is investing in other local property segments.
He also heads La Mancha, a company specialising in mining investments. He considers gold mining to be one of his priority areas and that this asset is an effective tool for diversifying the investment portfolio.
It is worth noting that Naguib demonstrates keen business acumen. He selects sectors with high growth potential for investment, thus increasing his income. At the same time, he focuses on activities in Egypt and the region. In this way, he contributes to the development of the local economy.
