Orascom Investment Holding (ex Orascom Telecom Media and Technology Holding), a conglomerate held by the Egyptian billionaire Naguib Sawiris, announced, on October 31, 2018, its intention to acquire 30% of the capital of local financial services group Sarwa Capital in November.

In that regard, the conglomerate which mainly operates in the mobile telephony, exploitation of cable network, media services and development of energy projects, required the authorization of regulatory authority to acquire 216 million of Sarwa shares at EGP7.36 ($0.41) per unit.

Sarwa Capital was listed on Cairo stock exchange in October 2018. The financial services group mainly operates in securitization, consumer credit, leasing, and insurance.