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Nassef Sawiris has increased his grip on Orascom Construction PLC, lifting his total stake in the company to 43.39% after his family office NNS City acquired approximately 1.13 million additional shares, representing 1.03% of the company's total capital.
According to a statement issued on Thursday, April 16, NNS City's direct holding rose from 12.87 million shares, or 11.68% of the company, to approximately 14 million shares, or 12.7%. When combined with affiliated entities through which Sawiris also holds Orascom shares, his aggregate position increased from 46.69 million shares (42.36%) to 47.83 million shares, or 43.39% of total capital.
The purchase comes roughly 15 months after Sawiris made a more significant move in the same company. In January 2025, he acquired a 5.84% stake in Orascom Construction from his older brother Naguib Sawiris for $8.91 million in cash and other family assets, taking his holding at that point to 42.36%. Naguib exited his Orascom Construction position entirely in that transaction. The latest purchase by NNS City adds a further layer of concentration, signalling continued conviction in the company's direction.
NNS City is a private structure linked to the broader NNS Group, described by its founders as a family office focused on creating long-term value through investments in listed companies and businesses with high growth potential. It is one of several vehicles through which Sawiris consolidates his personal investment positions across public markets.
Who Nassef Sawiris is
Sawiris, 64, is Egypt's richest person and Africa's 5th wealthiest individual, with a net worth estimated at $9.6 billion by Forbes in its 2026 Africa rankings. Born on January 19, 1961, in Aswan, he is the youngest of the 3 sons of the late Onsi Sawiris, who founded the Orascom Group in 1950 and divided the empire among his sons in the late 1990s. Nassef received a bachelor's degree in economics from the University of Chicago in 1982 and joined the family company the same year. He took management control of Orascom's construction activities in 1995 and became CEO of Orascom Construction Industries when it was incorporated in 1998.
In January 2013, OCI NV, a Dutch holding company, was established as the parent of Orascom Construction, with Sawiris becoming its CEO. OCI Global has since grown into one of the world's largest nitrogen fertilizer producers, operating major plants in Texas and Iowa.
Orascom Construction itself is a global engineering, procurement and construction contractor with a footprint across the Middle East, Africa and the United States, specialising in infrastructure, industrial and commercial projects. Among its most prominent completed works is the Grand Egyptian Museum near the pyramids at Giza, one of the largest museum complexes in the world. Earlier in 2026, it signed a memorandum of understanding with Uganda to conduct an 18-month feasibility study on a proposed light rail transit system for the Greater Kampala Metropolitan Area.
A portfolio that goes far beyond construction
Construction and fertilizers represent only part of Sawiris' investment footprint. Through his NNS Holding Sàrl vehicle based in Luxembourg, he acquired a stake in Adidas AG in 2015 and was appointed the sportswear giant's supervisory director in 2016. As of early 2026, he holds close to 6% of Adidas and was named as its incoming chairman in March 2026, a role that will make him one of the most prominent non-European figures at the top of a major global consumer brand.
In sport, he co-owns English Premier League club Aston Villa through V Sports, the holding company he built with American billionaire Wes Edens. The partnership injected approximately £360 million in debt-free share capital into the club and has driven an ambitious expansion of Villa Park. He also holds a 6.3% stake in MSG Sports, the American company whose assets include the NBA's New York Knicks and NHL's New York Rangers.
The broader family context
The latest Orascom stake increase is a reminder that the Sawiris family's ties to the construction company that Onsi built remain strong even as the brothers have diversified in different directions over the decades. Naguib, the eldest at 71, built and sold one of Africa and the Middle East's largest mobile operators before pivoting to gold mining through La Mancha Resources, media through Euronews and real estate through Ora Developers. His net worth stands at approximately $5.6 billion. Samih, 69, took a different path into luxury tourism, building El Gouna, a purpose-built Red Sea resort city, and replicating the model in Switzerland, Oman and Montenegro through Orascom Development Holding. His net worth is estimated at approximately $1.4 billion.
Together, the 3 brothers represent a combined fortune of roughly $16.6 billion, making the Sawiris family one of Africa's most significant business dynasties. Nassef's decision to keep adding to his Orascom Construction position places him among the company's most committed long-term shareholders, with a stake that now covers more than 2 in every 5 shares in issue.
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