Sawiris renews its interest in obtaining a banking license in Egypt

Egyptian billionaire and head of Orascom Investment Holding, Naguib Sawiris, has renewed his interest in obtaining a banking license in Egypt in accordance with controls and standards set by the Central Bank where permitted.

He stressed that the Corona outbreak had not affected his investments in real estate and gold, and expected the rise in gold prices to return to $ 1,900 an ounce.

At a conference in Egypt, he said he was looking to own a banking unit in Egypt, especially since his company has banking units overseas.

Naguib Sawiris had repeatedly called for the opening of banking licenses in Egypt in recent years, to create a bank, according to his previous statements.

In a related context, Sawiris said that he is in the top 10 mining and gold investors in the African market and is looking to become the largest gold investor in the Egyptian market, and that he is seeking to become the largest gold investor in the Egyptian market. was prepared to secure further concessions for gold exploration. in Egypt, according to Habi.

The Egyptian Ministry of Petroleum and Mineral Resources recently announced the signing of 4 contracts with AKH Gold, an affiliate of Egyptian businessman Naguib Sawiris, with a total investment of around $ 4.1 million to research gold in 9 sectors of the eastern desert.

During his speech at the “Habi” conference, Sawiris said he intended to set up an integrated residential project for the mid-segment in Upper Egypt, especially Sohag, in order to meet the growing demand. for this type of projects and to open up investment horizons. in Upper Egypt.

He pointed out that Aura Developers, which he owns, is looking to acquire 600 acres of the North Coast as part of its expansion plan in the coming period.

Sawiris added that there was also an intention to go public with Aura, and the company is awaiting the start of delivery of its projects to make a decision in this, indicating that Orascom could play a major role in the projects. Entertainment. of Aura with his projects in Sheikh Zayed and New Cairo.