The Mansour Group first rose to prominence when it secured exclusive dealership rights for General Motors in Egypt.
Today, if you live in Egypt, you may find that everything you use daily, from your car to your table salt, comes from or is affiliated with the Mansour Group.
This sprawling family-owned conglomerate is one of the biggest in Africa and the world dealing in everything from automobiles to consumer goods down to real estate.
Founded in 1952 by Loutfy Mansour as a cotton exporter, the Mansour Group has grown into a global conglomerate thanks to the business acumen of Loufty’s kids: Youssef Mansour, Mohammed Mansour, Yassen Mansour and Rawya Mansour who took up the mantle after their father death.
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The Mansour siblings
Mohammed Mansour
Mohammed is a well-known figure in political and commercial circles. With a net worth of $3.3 billion, he ranks eighth on Forbes’ list of Africa’s richest people.
Mohammed has always had a love for politics and even served as transport minister in 2006 although he was later forced to resign.
Recently, the tycoon was knighted by British Prime Minister Rishi Sunak, sparking debates and discussions about political patronage. He is a part owner of the Mansour Group and helps his brothers oversee the family business.
Yasseen Mansour
Yasseen, like his siblings, is a part owner of the Mansour group and has a net worth of $1.2 billion according to Forbes.
He was instrumental in the expansion and success of the Mansour Group. Yaseen co-founded Mansour & Maghraby Investment Development (MMID) with his cousin, former Minister of Housing, Ahmed El-Maghraby.
MMID is the majority owner of Palm Hills Development Company (PHDC.CA), a leading real estate developer in Egypt of which Yassen is the chairman. Palm Hills Development is part of the Mansour Group businesses.
Rawya Mansour
Rawya, the only female sibling, is less known but just as impressive. She founded RAMSCO for Refined Architecture and Interior Design in 1999 and RAMSCO for Trade and Distribution in 2007.
Rawya also established the Organic Agriculture for Social International Solidarity (OASIS) in Monaco in 2012. She is also a member of the Egyptian National Council for Women for Foreign Affairs Committee and the Planetary Health Pledge Club in Monaco.
Each of the Mansour siblings has crafted a name for themselves and contributed significantly to the growth of the Mansour group. However, there is one at the helm of it all who unlike his siblings is a recluse who prefers to lead a rather private life.
The man behind the scenes: Youssef Mansour
Youssef was born on May 21, 1945, in Alexandria, Egypt. The Egyptian billionaire is a pivotal figure in the Mansour Group, where he sits on the board and is one of the founders.
With a net worth of $1.3 billion according to Forbes, Youssef has built an indelible legacy, not just within his family business but also in international commerce as a whole.
He grew up watching his father lay the foundation for the Mansour Group, a company that would later become a global powerhouse.
Being a firm believer in education and one of the first Egyptians to graduate from Cambridge, Youssef’s father, Loutfy did not spare any expense in ensuring his children got a good education.
When President Gamal Abdel Nasser nationalized the cotton industry in the 1970s, the Mansour family’s assets were seized forcing them to leave Egypt and go to Sudan and later Switzerland and start from scratch. Loutfy rebuilt his cotton business while in Switzerland during which time Youssef and his siblings studied in the US.
Youssef pursued a Bachelor of Science in Engineering from North Carolina State University in the USA and later honed his business acumen with a Master of Business Administration from Auburn University.
When Egypt returned to a market economy, the Mansour family returned to Egypt and soon after started doing business with General Motors(GM). Youssef who had been pursuing a career in investment banking in New York returned to Egypt in 1976.
The Mansour family set up a GM dealership and obtained Egyptian sales rights in 1975. The company was called Al-Mansour Automotive.
In 1984, GM opened its first factory in Egypt, and in 1985 had its first GM vehicle produced in Egypt. By 2001 the Mansour Group had become an exclusive GM distributor – a turning point in the history of the company.
Building on this success, Mansour Automotive expanded its operations to Iraq and Africa, becoming the largest distributor of GM products in the world outside of China. The Mansour Group’s dealership network now spans several countries. The company also owns franchises for Opel, MG, Chevrolet, Isuzu and Peugeot.
Youssef’s career and achievements
Youssef founded Mantrac a subsidiary of the Mansour Group and served as Chairman from 1977 to 1992. Under his leadership, Mantrac became the sole authorised dealer of Caterpillar products in Egypt and several other African countries. (Caterpillar is a leading manufacturer of construction and mining equipment).
Youssef was then appointed as chairman of Mansour Holding Company for Financial Investments, a position he still holds. In 2006, he was appointed Chairman of Mansour Automotive Company until the end of 2009.
The billionaire who commands the Mansour Group’s consumer goods division is also responsible for establishing the Metro supermarket chain, which under his leadership has flourished into one of the largest retail networks in Egypt.
Later under the metro umbrella, Youssef opened the first local supermarket chain Kheir Zaman which is 100% Egyptian and has grown to a network of nearly 100 branches.
Further, the group’s consumer division holds exclusive distribution rights for L’Oreal(a French multinational company that makes and sells beauty and personal care products) in Egypt. This has strengthened the Mansour Group’s position in the beauty and personal care market.
Personal life and philanthropy
Outside of business, Youssef is a family man. He resides in Cairo with his wife and five children, who stay out of the public eye. The business mogul is also a philanthropist who takes pleasure in seeing his community thrive.
He is a founding member of the American Egyptian Chamber of Commerce, advocating for stronger economic ties between Egypt and the United States. The tycoon also belongs to the Egypt-US Business Council and the Council of Egyptian Businessmen.
Under his and his brothers’ leadership, the Mansour Group has engaged in numerous philanthropic initiatives, from educational programs to community development projects. Notably, the group recently completed a community centre for the Bedouin people in Saint Catherine, a UNESCO World Heritage Site.
The Group now plans to further diversify its portfolio by venturing into high-growth sectors such as technology, education, and infrastructure.
The firm has already invested in companies like IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe, and the Middle East, and Inspired Education Group, a network of independent schools.
