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The Man Called Youssef Mansour

July 10, 2024

Youssef Mansour, born into a business-oriented family, which founded the Mansour Group.

The Mansour Group is the largest General Motors dealer in the world and a prominent distributor of Caterpillar equipment in Egypt and across Africa.

Youssef Mansour oversees the consumer goods division of the Mansour Group leading the family business alongside his brothers Yasseen and Mohamed Mansour, and his sister Rawya Mansour.

Early Life and Background

Youssef Mansour was born in Cairo, Egypt, in 1952, into a family that was not wealthy but was known for its strong work ethic and ambition. His father, Loutfy Mansour as a cotton exporter, who ran a small trading company.

The family’s modest means did not deter Youssef from dreaming big. Growing up, he was instilled with values of hard work, perseverance, and a strong education. Mansour attended the American University in Cairo, where he pursued a degree in Business Administration.

This educational foundation was instrumental in shaping his future business ventures. The skills he acquired during his time at university laid the groundwork for his approach to business—one characterized by innovation, strategic thinking, and an unwavering commitment to excellence.

Personal Life

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 completed a community center 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.

The Mansour Group

After completing his education, Youssef Mansour joined the family business, Mansour Group. The company was originally a small trading enterprise. But Youssef’s vision and strategic thinking would help transform it into one of Egypt’s most significant conglomerates.

The Mansour Group first rose to prominence when it secured exclusive dealership rights for General Motors in Egypt. Today, 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.

The Mansour siblings

Youssef Mansour

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.

Mohammed Mansour

Mohammed Mansour 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 by British Former 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.

Expansion into new markets

Under Youssef Mansour’s leadership, the Mansour Group diversified its interests beyond trading. In the early 1980s, he spearheaded the expansion of the company into various sectors including real estate, automotive, and consumer goods.

One of the most significant moves was the acquisition of the Egyptian franchise for the American fast-food chain, McDonald’s. This was a bold step that not only broadened the company’s portfolio but also introduced a new dining culture to Egypt.

Diversification and growth

Mansour’s approach to diversification played a crucial role in the growth of the Mansour Group. He understood that relying on a single sector could be risky, so he sought opportunities in various industries. This strategy proved successful, and the group expanded its operations to include:

Real estate: The Mansour Group invested in large-scale real estate developments, both residential and commercial. Their projects have transformed cityscapes and provided modern living and working spaces for countless Egyptians.
Automotive: The group became a significant player in the automotive industry by securing exclusive distribution rights for several international car brands. This move allowed them to tap into a growing market and establish a strong foothold in the automotive sector.
Consumer goods: By focusing on consumer goods, the Mansour Group became a major supplier of various products, from food and beverages to household items. Their ability to adapt to market demands and trends helped them maintain a competitive edge.

Youssef Mansour Net Worth

As of 2024, Youssef Mansour’s net worth is estimated to be around $2.6 billion. This substantial wealth places him among the wealthiest individuals in Egypt and the Arab world. His fortune stems from his successful leadership of the Mansour Group and his strategic investments in various high-growth industries.

Sources of wealth

Youssef Mansour net worth is primarily derived from the following sources:

Mansour Group holdings: A significant portion of his wealth comes from the diverse holdings of the Mansour Group. The conglomerate’s successful ventures in real estate, automotive, and consumer goods contribute to his financial standing.
McDonald’s franchise: The success of the McDonald’s franchise in Egypt has been a major revenue stream for the Mansour Group. With numerous outlets across the country, this venture continues to generate substantial profits.
Investments in international brands: Mansour’s strategic investments in international brands and partnerships have yielded significant returns. His foresight in acquiring and managing high-profile brands has played a crucial role in building his net worth.

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.

Conclusion

As Youssef Mansour continues to drive the success of the Mansour Group and contribute to the betterment of society through his philanthropic efforts, his legacy is set to inspire future generations of business leaders. His life’s work demonstrates that with determination, strategic thinking, and a commitment to excellence, great achievements are within reach.

Youssef Mansour’s influence extends far beyond the boardroom. He is a role model for those who seek to make a difference in the world through their entrepreneurial endeavors and social contributions. As we look to the future, there is no doubt that Mansour will continue to be a prominent figure in the global business arena, shaping the landscape of the industry and making a lasting impact on the world.

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