Egyptian tycoon eyes Venezuela investment once Maduro leaves office

Egyptian tycoon eyes Venezuela investment once Maduro leaves office
Egyptian billionaire Naguib Sawiris

Cairo – Mubasher: Egyptian billionaire Naguib Sawiris may consider investing in Venezuela “anytime” as soon as embattled President Nicolas Maduro steps down.

Maduro “starves his own people, he starves the whole country, he ruined the country,” Sawiris, chairman of Orascom Investment Holding (OIH), told Bloomberg TV in Abu Dhabi.

Sawiris added that he may also consider other investment opportunities in Latin America.

Aside from Venezuela, the Egyptian businessman also said that Brexit has held him back from investing in the UK, pronouncing the Brexit issue as “a disaster”.

Despite saying that “Europe is a big mess”, the Egyptian mogul noted that he could invest around $300 million in Italy.

In 2018, Sawiris told Bloomberg that he had injected half of his $5.7 billion net worth into gold.