Sawiris Family’s Contributions to Egypt Economy Totalling EGP1bn

The Sawiris family, one of Egypt’s two wealthiest families, made contributions totalling around one billion Egyptian pounds ($140m) to ‘Long Live Egypt’ Fund, said family member and tycoon Samih Sawiris.

The ‘Long Live Egypt’ Fund was originally initiated by Egypt’s President Abdel Fattah al-Sisi to support and revive the cash-strapped national economy.

In an interview at CBC channel on Sunday, Samih Sawiris – the CEO and Chairman of Orascom Development Holding – urged the Egyptian government to settle all its outstanding matters with the Arab investors before the country’s upcoming ‘Economic Summit Conference’ next February.

Egypt’s Economic Summit Conference, which will take place next February in Sharm El-Sheikh, is set to illustrate the country’s economic vision, showcase available investment opportunities, attract more Arab and foreign investments to stimulate the economy, and achieve higher development rates.

The Egyptian tycoon also referred to the Sawiris Foundation’s undeniable leading role in the social development of the Egyptian society. The foundation’s planned ‘One thousand Schools’ project still awaits the Egyptian Education Ministry’s decree to allocate a land plot to carry out the project, he noted.

Elsewhere, Samih said his company OHD incurred losses worth EGP 150 million in Haram City project, which serves the low-income citizens in the first place.

Onsi Sawiris is the patriarch of the family, he and his three sonsl Naguib, Samih and Nassef are all on the Forbes list of the world’s wealthiest men.

Samih is ranked 35th on the Forbes Middle East’s 2014 list.

According to Forbes Middle East’s 2014 list, the total worth of the Egyptian Sawiris family is $13.2 billion.
*This story has been translated and edited by Amwal Al Ghad English.