Egypt's Naguib Sawiris To Invest 100 Million In Electric Motorbike Project In Morocco

Naguib Sawiris to invest 100 million in Morocco to convert fuel motorbikes to electric through BluEV, a subsidiary of Orascom Investment Holding.

BluEVs pay-as-you-go battery leasing system cuts motorbike costs by up to 30, boosting affordability and reducing emissions in city transport.

Sawiris, worth 8.93 billion, has shifted from telecom to high-impact sectors like clean mobility, holding most of his wealth in cash.

Egyptian billionaire Naguib Sawiris, one of Africas wealthiest individuals with over 7 billion in cash according to Bloomberg , is putting 100 million into Moroccos electric mobility space. The investment will go through BluEV, a company focused on sustainable urban transport.

The 100 million investment, a milestone in Morocco, aims to replace fuel-powered two- and three-wheeled motorbikes with electric alternativespart of a larger effort to reduce emissions and make daily commuting cleaner and more affordable.

Sawiris, one of North Africas wealthiest individuals, will carry out the project through BluEV , a subsidiary of Orascom Investment Holding. The company focuses on affordable electric conversion strategies tailored for light vehicles used in daily city transport.

The plan reflects BluEVs mission to make city travel cleaner, safer, and more cost-effective. Its electric platform offers a battery leasing system with pay-as-you-go pricing, significantly cutting upfront and running costsby as much as 30 percentcompared to petrol-powered vehicles. The shift to electric also reduces the need for frequent repairs and maintenance.

Since its founding in 2011, Orascom Investment Holding has primarily focused on telecom, media, and technology. Under Sawiris, the company evolved from Orascom Telecom, originally launched in 1997, and has grown into an investment group. The firm has built a reputation for backing ventures that offer both financial returns and long-term value for communities.