In his first venture into the media, Naguib Sawiris has announced a $129 million partnership to produce and distribute Arab films.
It seems like Naguib Sawiris will not be leaving business in the Middle East all together, despite Orascom being moved to the Dutch stock exchange. Sawiris and French-Tunisian financier Tarak Ben Ammar unveiled a 100 million euro ($129 million) partnership to produce and distribute films and television programmes in the Arab world and internationally.
The first joint project between Sawiris and Ben Ammar will be an Arabic-language action film, Beretta, which is said to be the first of its kind in the region to be written for a female lead.
We don’t think this will be Sawiris’ only move into the media industry and maybe it is a smart way to "win the hearts and minds" of the people.