No one ever said it was easy being an entrepreneur. Whether you're in the early stages of your statrup, just secured funding for your startup or you are ready for product launch, there will always be those three components when you ask yourself if this whole entrepreneur thing is worth it. Instead of giving up and throwing-in the proverbial white towel, this forum will help in giving you all the motivation you need to achieve your result.
Subscribe to this blog
Follow by Email
THE WEALTHIEST MAN IN EGYPT: NASSEF SAWIRIS; LIFE AND LESSONS
article is majored around the life of the wealthiest man in Egypt and Africa's
fourth richest person NASSEF SAWIRIS. Nassef was born 1961, the 57 years
old man is the youngest of the three boys from his family, He graduated with a bachelor’s
degree in Economics in 1982 and has since set his footprint on the book of
history as a very intelligent wealthy man and also a generous philanthropist,
he is credited for helping to grow the Egyptian economy by creating 29,
108 jobs. Their family made bulk of their money from their construction company
but has since expanded to telecommunication and many other ventures which is
making them rich by the day. This man understands the saying that 'building
a system helps you run your business' because he has a firm system
that is running most of his businesses and making him so much money with
little or no effort. His company Orascom Construction Industries owns large amount of shares in many world known
companies in different countries.
Nassef is a very odd thinker if i may,
if your thought is this, his would probably be diferent and this has been
working out perfectly for him judging from his networth of over$6 billion,
he was qouted saying “I don’t believe in master plans. I believe in a
vision that stays dynamic and suits the area, the people that live in it, your
clients, and the circumstances.” He said when he started with Orascom he
didn’t even know it could lead to a career for him but today it has become such
a large conglomerate not just in Africa but around the world. He sits as a
board member to different organisations, Sawiris is affiliated with 62 executive boards in seven organizations
spanning eight different industries. Some of these board memberships
include being vice chairman of the BESIX Group, director at Nile City
Investments, managing director at Orascom Construction Industries and has
been a board on the Egypt's local Stock Exchange.
5 Lessons from his Life
1.Spot an opportunity
Not so long ago, few saw telecommunications taking off in
Africa, but now the sector is the continent’s fastest growing. Orascom Telecom
is now the leading mobile phone operator throughout Africa, the Middle East and
Pakistan, with 11 million subscribers. The firm has long been one of the
largest mobile phone operators in the world, with a presence in twelve
countries, including Algeria, Pakistan, Canada and North Korea. Until this year
it ran Egypt’s leading mobile network, Mobinil, and has even expanded into
North Korea, where it has become the secretive communist state’s first mobile
phone operator. Naguib has also entered the European mobile market, with his
Weather Investments vehicle, buying mobile operators in Italy and Greece.
2. Invest in the
Onsi Sawiris always said that the greatest investment he’d
ever made was in his sons. He is now effectively retired, and has each of his
three sons running arms of the family empire. Eldest son Naguib, who was
educated in Zurich, is executive chairman of Orascom Telecom and a media owner
in Egypt. He is said to be the intellectual guru of the family, with strong
connections in the Cairo political elite and liberal sympathies. Nassef, a
graduate of Chicago University, is chief executive of Orascom Construction
Industries. Observers of the Egyptian political scene say he is an advocate of
a progressive, liberal future for Egypt. He is an investor in the newspaper
al-Masry al-Youm, which was launched in 2004 and has earned a strong reputation
for pioneering an independent editorial agenda, and also launched the satellite
TV network OTV. Samih is responsible for holiday resorts in the Middle East
such as El Couna and Taba Heights and has turned his attention to other tourist
developments. The Sawiris siblings are revolutionaries when it comes to Egypt’s
corporate culture. Educated and trained in the West, they keep a lean group
structure, hire managers on the basis of merit rather than family connections
and recruit expatriate talent with generous compensation packages
3. Know a good
offer when you see one
In February, Naguib Sawiris sold most of his stake in the
group’s mobile operations to its French partner, France Telecom. Following the
completion of the sale, France Telecom will own 95 per cent of Mobinil while
the Sawiris family will retain a 5 per cent “economic interest”, according to a
statement. The family sold its 20 per cent stake in Mobinil for 202.5 Egyptian
pounds (€25.31) per share – a 61% premium on its closing price before the sale
was announced. The whole deal was valued at around €1.5 billion.
The company has been awarded $355 million to build science
and technology centre in Qatar. It is also expected to be involved in Qatar’s
preparations for the 2022 World Cup. Recently Naguib dropped support for the
Qatar consortium targeting a buy-out of Egyptian investment bank EFG Hermes
after EFG shareholders backed an alternative tie-up with Qatar’s QInvest, yet
the family retains close links with the country.
5. Fight on
The Egyptian government nationalised Sawiris’ first
construction business back in 1971, after Sawiris fell victim of the socialist
government of President Nasser and was prevented from leaving the country for
six years, eventually relocating to Libya. Undeterred, he returned to Egypt and
rebuilt during the more business-friendly presidency of Anwar Sadat, creating
what eventually became Orascom Construction Industries, which his son Nassef
took over in 1995. In more recent times U.S. affiliate Contrack was forced to
withdraw from Iraqi contracts worth $325 million as a result of terrorist
attacks and rising security costs, but the company has weathered the storm.
Orascom managed to weather the recession storm, with Naguib saying in October
last year that he was in discussions with partners to help finance a bid for
Orange Switzerland, the France Telecom SA mobile phone unit, for $2.8bn.
These lessons would help me and you build our own very empire
that will put us all in the history books as some of the richest entrepreneurs
of our time, God's willing. Jot them down somewhere if possible and let them be
your guiding principles to help you to success.
Please if you liked this article, share us with your friends
and don’t forget to drop your comments, so we can serve you better.
Being a young entrepreneur is difficult, no matter where
you are from. But in Africa, the challenges are often far more emphasised.
Resources, financing, mentorship and supporting services are even scarcer. Yet
despite this, the continent’s youth unemployment is higher than elsewhere,
and for many young Africans, entrepreneurship is less of a choice, and more of
a requisite for survival.
year the Anzisha Prize, Africa’s premier award for entrepreneurs between the
ages of 15-22, identified a handful of young entrepreneurs who are
making it in Africa. Here are some of their tips for success. 1. The most important step is the first one
Nteff Alain is the winner of the 2014 Anzisha Prize and is the entrepreneur
behind GiftedMom, an e-content platform for pregnant women.
says having an idea is easy, but turning it into reality is a whole different
story. The wall of challenges an entrepreneur faces can quickly de-motivate
someone from following through on their vision. …
Twenty percent of small businesses fail within their first year. Entrepreneurship is no walk in the park. In fact, the amount of new businesses that fail exceed the number that succeed. That’s why it’s more important than ever to create a unique product or service that helps you stand out from the rest.
However, don’t be discouraged. If you believe in your business, passion will prevail. On average, 75 percent of small-business owners are confident in their company. And why shouldn’t they be? They’ve turned their passion into profit. Yet, keep in mind it’s important not to be overly confident. Instead, take things one step at a time. Typically, 20 percent of small businesses fail in their first year, 50 percent in their fifth year and 70 percent after a decade of being in business.
A number of factors play into a business’s closing, such as location, the current market, cash flow and more. The number of reason most small businesses fail is due to cash flow, and California cities such …
We often talk a good
game in the world about how entrepreneurship is a global phenomenon. In
the last week of October, we lived it.
Headlined by Bill gates, the Microsoft giant drew some of the biggest
names in technology together with more than 1,200 entrepreneurs from 170
countries, government leaders and Silicon Valley executives to Stanford
University to put a spotlight on expanding entrepreneurship around the globe.
From the start, the call was for championing entrepreneurship to help
reduce global tensions and demonstrate a different path for youth living in
We don't often enough
connect the bottom line to efforts to make a safer world. I applaud Gates
call to action for this next generation of entrepreneurs, and those in the
current generation, to support them.
Gates proposed that the young entrepreneurs focus on three
"generational challenges": creating education tools to excite
youth who may be at risk of radicalization, build…
Étienne Arnault was born on the 5th of March 1949. He is a
French business magnate, an investor, and an art collector. Arnault is
the chairman and Chief Executive Officer (CEO) of LVMH, the world's largest
luxury-goods company. He is the richest person in France and the fourth richest
person in the world according to Forbes magazine,
with a net worth of $75.5 billion, as of March 2018. EARLY LIFE After graduation, Arnault joined his father's company,
in 1971. In 1976, he convinced his father to liquidate the construction
division of the company for 40 million French francs and to change the focus of the company to real estate.
Using the name Férinel, the new company developed a specialty in holiday
accommodation. Named the Director of Company Development in 1974, he
became the CEO in 1977. In 1979, he succeeded his father as president of the
company. CAREER In 1984, with the help of Antoine Bernheim, a senior
partner of Lazard Frères, Arnault acquired the Financière A…
Cletus M. Ibeto (born November 6, 1952) is a Nigerian businessman from the industrial city of Nnewi. He is head of The Ibeto Group, the
largest business enterprise from Nnewi, a city unique for its entrepreneurial
spirit. In the early 1980s, when the oil
crash and a
controversial importlicensing system was making a dent on the
Nigerian manufacturingenvironment, Nnewi went through a growth
period. The Ibeto Group under the Ibeto's leadership was a pace setter in the
region and nation's trading and later manufacturing development. His story
teaches that no matter how your financial situation seems at any point in life,
seeing and taking opportunities when others don’t, smart-hard work,
perseverance, and the right network can change your status for good. EARLY LIFE
22, 1966, at age 13, the highly spirited Ibeto got his school box and
provisions all packed and set for school. Unknown to him, the
academic phase of his life was about to crash, as his father decided that