Egyptian billionaire Onsi Sawiris, founder of Orascom business empire, dies at 91
The journey of Egyptian business icon comes to an end
Onsi Sawiris, Egyptian business icon turned philanthropist and the patriarch of Egypt’s wealthiest family, died on Tuesday at the age of 91.
According to a source close to the family, the funeral will be in the resort city of El Gouna near Hurghada, and it will be limited to family members, adding that the date has not been set yet.
Onsi was born on August 14, 1930. He obtained a Bachelor’s degree in Agriculture from Cairo University in 1950.
Rich business journey
Onsi founded Orascom Construction in 1950, but late President Gamal Abdel Nasser nationalised it 10 years later. Onsi remained as its head for five years before emigrating to Libya in 1966. He returned to Egypt and resumed his activities in mid-1970s. Onsi rebuilt Orascom from scratch. In 1976, he founded Orascom General Contracting and Trade, which later became called Orascom Construction Industries.1
It has expanded its activities in the 1980s and 1990s until it has become one of the largest Egyptian companies, covering sectors of tourism development, technology, and mobile phone services, construction and industry; that are run by his three sons; the prominent business tycoons Naguib Sawiris, Nassef Sawiris, and Samih Sawiris.
Memorable philanthropist activities
In 2000, Onsi launched Onsi Sawiris Scholarship, a private merit-based scholarship programme run by Orascom Construction as it invests its resources in educational programmes to improve the communities in which it operates.
Under the Scholarship Programme, Orascom Construction provides full tuition scholarships for Egyptian students seeking to pursue their degrees at prestigious universities in the United States with the aim of bolstering Egypt’s economic competitiveness. The scholarships include full tuition, living allowance, travel and health insurance. They are awarded based on merit, need and character as demonstrated through academic excellence, extracurricular activities, and entrepreneurial initiative.
Since its inception, the Scholarship Programme has financed the educational dreams of 88 extraordinary students, according to its official website.
In 2001 Onsi founded the Sawiris Foundation for Social Development, a charity that provides micro credit to Egyptian entrepreneurs and grants scholarships to outstanding Egyptian students in tertiary institutions. Onsi’s sons, Naguib, Samih, and Nassef have been all sit on the board of the foundation.
In April 2020, Sawiris Foundation donated 100 million Egyptian pounds ($6.3 million) to support the country’s fight against coronavirus.
Awards
Onsi has been awarded an honorary Doctoral Degree in recognition of his contribution to business and philanthropy.
In 2008, he was made Commander in the Order of the Crown by His Majesty King Albert II, King of Belgium, and has held L’Order de Leopold since 1998. Also in 2008, he was awarded the Swedish Royal Order of the Polar Star in the presence of HRH Princess Victoria of Sweden.
