Egyptian billionaire Naguib Sawiris is leading businessmen back into politics after the revolt that toppled President Hosni Mubarak also brought the downfall of several wealthy entrepreneurs.
The head of mobile-phone network Orascom Telecom Holding SAE (ORTE), Egypt’s third-biggest listed company, is blunt about his aims. His newly founded Free Egyptians Party will promote capitalism, “attract honest businessmen who create jobs” and challenge the Muslim Brotherhood, the frontrunner in September’s election, Sawiris said at a May 14 public debate in Cairo.
“We don’t agree that the word businessmen should be an insult,” said Sawiris, who’s worth $3.5 billion according to Forbes magazine.
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