Orascom Construction gets $1 Billion from Bill Gates

What do you get when you partner the U.S.’s richest man and one of Egypt’s richest businessmen together? Business bliss!

Bill gates and several international investors have acquired a stake in OCI NV, an Egyptian construction and fertilizer company owned by Nassef Sawiris.

The wholly-owned subsidiary of Orascom Construction has raised $2 Billion in commitments from international investors, $1 Billion from Cascade Investment, the private investment group owned by Bill Gates, Southeastern Asset Management & Davis Selected Advisers.

In Nassef’s words “This transaction is proof of the existing international appetite to invest in Egypt and bodes well for the Egyptian economy with more than US$ 1 billion committed by US investors.”

We hope he’s right, considering this is the first time Bill Gates Investment group, puts a huge amount into an African company.

We Said This: Hopefully a positive turn of events for Egypt