Naguib Sawiris

Naguib Sawiris
Naguib Sawiris
Born	June 15, 1954 (age 72); Cairo, Egypt
Occupation(s)	Entrepreneur, businessman
Years active	1979–present
Known for	Chairman of Weather Investments; former chairman and CEO of Orascom Telecom Holding and Orascom Investment Holding S.A.E.
Notable work	Development of Orascom Group; acquisition of Euronews; expansion into gold mining with La Mancha

Naguib Onsi Sawiris (; born 15 June 1954) is a prominent Egyptian entrepreneur, serving as chairman of the parent company of Weather Investments, and formerly held the positions of chairman and CEO at both Orascom Telecom Holding and Orascom Investment Holding S.A.E.

Early life

Hailing from Cairo, Naguib is the eldest son of businessman Onsi Sawiris, the founder of the Orascom Group. He is one of three billionaire siblings, alongside Nassef Sawiris and Samih Sawiris.

Education

Sawiris completed his studies at the German Evangelical School in Giza, followed by obtaining a diploma in mechanical engineering and a master's degree in technical management from ETH Zurich.

Career

Beginning his career with Orascom in 1979, Sawiris played a key role in transforming the family enterprise into one of Egypt’s largest private employers and diversified conglomerates. He was instrumental in developing Orascom’s operations in railway, information technology, and telecommunications. During the late 1990s, Orascom restructured into several specialized entities: Orascom Telecom Holding (OTH), Orascom Construction Industries (OCI), Orascom Hotels & Development, and Orascom Technology Systems (OTS). Established in 1997, OTH was later renamed Orascom Investment Holding S.A.E., where Sawiris holds the roles of Managing Director and CEO.

In August 2012, he assumed the chairmanship of La Mancha Holding. In 2014, Sawiris divested his telecom assets to Russian company Vimplecom for more than US$4 billion. By early 2015, he acquired a controlling interest in Euronews, a pan-European news channel, which he began divesting to Alpac Capital starting December 2021.

In May 2016, Sawiris sold Egypt’s ONTV channel and stepped down as CEO of Orascom Telecom Media & Technology by the end of that year. That same year marked the launch of Ora Developers (formerly Gemini Global Development), which manages an international real estate portfolio valued at $2.5 billion with projects located in Grenada, Cyprus, and Pakistan.

In 2023, Sawiris explored potential investment opportunities in Barrick Gold Corp.’s $7 billion Reko Diq copper-gold mine project situated in Pakistan.

On 31 January 2024, Ora Developers entered into an agreement with the Iraqi government to develop “Ali Al-Wardi City,” Iraq’s largest residential development near Baghdad. Covering 61 million square meters with plans for 120,000 housing units integrated with smart city features, this initiative aims to ease population density pressures on Baghdad.

Additionally, Ora Developers announced its inaugural project in the UAE named Bayn: a technologically advanced and environmentally sustainable city located in Ghantoot between Abu Dhabi and Dubai. Spanning 4.8 million square meters, Bayn emphasizes innovation, green areas, and high-quality living standards.

Gold and mining

Through La Mancha, a mining investment company concentrating on gold exploration and production, Sawiris has broadened his footprint in the gold and mining sectors. His approach focuses on expanding operations within Africa as well as other strategic regions such as Canada and Côte d'Ivoire. La Mancha seeks to capitalize on increasing gold prices by acquiring and funding promising mining ventures worldwide.

Djezzy

In the early 2000s, Orascom Telecom under Sawiris secured a majority stake in Algerian mobile operator Djezzy, which rapidly emerged as Orascom’s most lucrative subsidiary and a dominant force in Algeria’s telecommunications market.

Nevertheless, by 2008 the Algerian government aimed to enhance its influence over Djezzy, contesting Sawiris's ownership claims. This dispute escalated into a complex legal battle culminating in the 2010 $6.4 billion merger between Orascom and Russian company VimpelCom. In 2012, Sawiris filed a $4 billion lawsuit at the ICSID, alleging that governmental intervention had suppressed the sale price.

The conflict concluded in 2014 when VimpelCom sold a majority 51% stake in Djezzy to Algeria’s National Investment Fund for $2.64 billion. In 2017, ICSID ruled against Sawiris's claim, siding with the Algerian government.

Personal life

Sawiris is married and has four children. He is fluent in Arabic, English, and German, and also has some knowledge of French.

In 2024, Forbes listed him as the fifth wealthiest individual in Africa, with an estimated net worth of $7.6 billion.

He practices the Coptic Christian faith.

External links