Egyptian Tycoon Sawiris Eyes $100 Million Investment in Morocco’s Tech Sector

Speaking on the sidelines of the Choiseul Africa Business Forum, held on October 20 in Casablanca, the Egyptian billionaire expressed his willingness to test the Moroccan market in the coming years. In this regard, a meeting is planned with the Delegate Minister in charge of Investment, he announced.

Regarding the sector considered, Sawiris specified that he could bet $100 million on the battery Gigafactory project, in preparation in Morocco. "If the relevant authority adds to this investment opportunity, the installation of charging stations for these cars, we are very interested in participating in this project," he said.

And he added: "We have a company that invests in alternative solar energy and Morocco has a significant opportunity in this field. The same goes for the implementation of food industry projects, such as the sugar factory we own in Egypt, in addition to the active tourism and hotel sector."