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Brazil Property News: Africa's richest man to invest in Brazil
4th February 2008 12:21
Africa's richest man is looking to invest in Brazil, according to a new report this week.
Egyptian businessman Naguib Sawiris, who is chairman of the board of Wind Telecomunicazioni SpA and Orascom Telecom Holding SAE, has assets estimated to be worth $10 billion (£5 billion).
The business mogul is now rumoured to be eyeing up Brazil, waiting for an "appropriate opportunity" in the area of telecommunications to invest in the nation, reports Brazzil Mag.
He told the website: "Of course the country can no longer go by unnoticed. There is great interest in it.
"Apart from that, it is a very pleasant place with nice people, where I have already spent holidays and enjoyed it."
Sawiris nearly invested in Brazil in May last year when his bid for Brasil Telecom almost came to fruition but eventually fell through.
Brazil received an surprise economic boost earlier this month when state-owned oil firm Petrobras announced that it had discovered a second oil field off the coast of Rio de Janiero.
It found one field, Tupi, at the end of 2007 which was rumoured to be worth 40 per cent of Brazil's entire oil reserve and the latest field is said to be just as big.
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