Visionary Billionaire Naguib Sawiris: Transforming Industries and Emerging Markets in 2024

Naguib Sawiris, born on June 15, 1954, in Cairo, Egypt, is a prominent Egyptian businessman and the eldest son of Onsi Sawiris, the founder of the Orascom conglomerate. He has played a pivotal role in diversifying and expanding the family’s business interests, particularly in the telecommunications, construction, and real estate sectors. As of 2024, Forbes listed him as the fifth richest person in Africa, with a net worth of $7.6 billion.

In November 2024, Sawiris launched Moniify, a digital platform headquartered in Dubai, aimed at delivering data-driven business and finance news tailored to emerging markets. This initiative seeks to challenge the dominance of Western media by providing insightful reporting on the dynamics of rapidly growing economies in regions such as the GCC, Middle East, Africa, Latin America, India, and Southeast Asia. Michael Peters, the former CEO of Euronews, has been appointed to lead Moniify, reflecting Sawiris’s commitment to reshaping the media landscape in these regions.

Demonstrating his continued investment in Egypt’s tourism sector, Sawiris announced plans in December 2024 to develop one or two hotels near the Pyramids area and Sphinx Airport, with a combined investment of $150 million. He highlighted the shortage of hotel rooms in the Pyramids vicinity and emphasized that the proximity of these new hotels to Sphinx Airport would enhance convenience for tourists, thereby boosting the local tourism industry.

In the mining sector, Sawiris has made significant strides through La Mancha Holding, a mining investment firm he chairs. In October 2023, reports indicated that he was considering an investment in Barrick Gold Corp.’s $7 billion Reko Diq copper-gold project in Pakistan. This potential investment aligns with his strategy to expand his portfolio in the gold and mining industries, capitalizing on the rising value of gold and the opportunities presented by emerging markets.

Furthering his commitment to real estate development, on January 31, 2024, the Iraqi government announced a contract with Ora Developers, a company led by Sawiris, to develop “Ali Al-Wardi City,” the largest residential city in Iraq. Located approximately 25 kilometers southeast of Baghdad, this project spans 61 million square meters and includes 120,000 housing units, green spaces, urban amenities, and smart city technologies. The development aims to alleviate population pressure on Baghdad and is named after the esteemed Iraqi intellectual Ali Al-Wardi.

Throughout his career, Naguib Sawiris has demonstrated a keen ability to identify and invest in sectors with high growth potential, from telecommunications to media, mining, and real estate. His ventures reflect a strategic focus on emerging markets and a commitment to fostering economic development in these regions. As he continues to expand his business interests, Sawiris remains a significant figure in the global business community, influencing various industries and contributing to economic growth across multiple continents.