Orascom Construction gets $1 Billion from Bill Gates

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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

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