Egyptian Business Magnate "Mohammed Mansour"

Egyptian Business Magnate "Mohammed Mansour"

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        This is a biography of Mohamed Mansour who is an Egyptian business tycoon. He oversees his family company that was founded by his father in 1952 and has currently 60,000 workforces employed.

Mansour was born in 1948 and is an Egyptian billionaire and former politician. He is the chairman of Mansour Group which is considered to be the second-largest company in Egypt based on revenue. His estimated wealth as per Forbes is $2.3 billion. His company Mansour Group is worth more than $6billion.

He was born in Alexandria in a business family that controls nine of  Egypt’s top companies. He got his engineering degree from North Carolina State University in 1968 and a Master of business administration (MBA) from Auburn University in 1971. He was part of that university as a teaching faculty member until 1973.

He joined his father’s business after returning to Egypt in 1973. He started serving as a member of its board of directors. He also joined the cotton trading business. He with his two brothers take care of the business and mainly looks after the automotive business of Mansour Group.

He has the honor of establishing the dealership of General Motors in 1975 but later he became the biggest distributor of General Motors worldwide. He after becoming the Chairman for Mantrac got distribution rights for Caterpillar equipment in Egypt and seven other countries which includes Iraq, Russia, etc. He is also the major distributor on the international level. He has been the Chairman of Lead Foundation and Credit Agricole of Egypt. He has also served as the director for the Egyptian Stock exchange. The position of Chairman in Egypt for the US business Council was also held by him and he has also been the president of the American chamber of commerce in Egypt. He has also served as a member of the global advisory board for the Council of Foreign Relations. He has been  Egyptian minister for transport from 2006 to 2009 in the government of Hosni Mubarak. Under a few circumstances, he was forced to resign after which he founded Man capital London and became its chairman in 2010.

After striving through both favorable and unfavorable conditions, the company has grown stronger by owing shares in global brands. The company is presenting itself globally in 100 countries with a net worth of $7.5 billion and six subsidiaries. From the Automobile arm in the group, the company sells 80,000 vehicles every year. The company has the franchise to sell Chevrolet, Opel, Peugeot, MG, and Isuzu.

Al Mansour holding group is included in Eqypt largest distribution Group that is providing consumer goods to 130,000 outlets across the country.

He founded his own group known as Mancapital with his son who completed ten deals which included investment in Millennium Offshore Services, Edcas, and IHS towers. Millennium’s offer services were to provide services to the offshore oil and gas industry. Educas was the investment in private schools and HIS towers were provided to Nigerian telecom infrastructure.

Manyfoods has the franchise of Macdonald’s restaurant in Egypt and is serving with more than 90 branches to 70,000 customers every day.

Their vision is to build their future by growing in new sectors and becoming geographical players by growing globally. They are planning to take strategic positions in high-growth and sustainable companies which include education, healthcare, logistics, real estate, technology, and communication.

The strength of the company is that it believes to alleviate poverty, develop educational infrastructure by efficiently and ethically utilizing resources. They want to promote environmental sustainability by playing a responsible role in waste management and energy conservation. They want to develop programs to empower people in all territories in which they operate. They rely on data-driven analysis to invest in high-growth markets around the world.

One of the subsidiaries of Man capital is MMID which is majorly involved in dealing with real estate in Egypt. One of its renowned projects is named Palm Hills development which is also listed on the Egypt stock exchange as well as London Stock Exchange. It has 26 projects at different development stages nationwide that cover 27 million square feet in Egypt.

Although the company has very reliable suppliers for providing raw material and it is highly successful relating to the performance of the products in the market but inventory day out the ratio of the company is high as compared to its competitors.

The company is working hard and the customers are highly satisfied with the performance of the company but the company is not working on the product demand and forecasting.

The company has strong cash flows but the company needs to invest in information technology to stay innovative and competitive. According to the scale of expansion, the company has diversified too much, and to integrate the processes advancement and up gradation in technology are required.

Another weakness of the company is regarding the attrition of employees due to which the company has to spend a lot on their training and development.

The biggest problem and reason for the failure of Muhammad Mansour in politics is that he always works and prefers others to work what they feel would be right. The company is not making decisions for efficient utilization of cash resources as they are not planning and forecasting regarding the most beneficial utilization of the cash resources.

The company is facing competition and needs to introduce a new and competitive product range by forecasting their demand in a particular segment.

By making proper financial planning and market forecasting the company can make better utilization of cash resources and improve inventory days. When cash resources are going to improve the company can invest in a better and advanced information technology system as the company is already planning to start an online platform for the sale of products and services. By offering a new platform, new trends will open new opportunities for the company will lead to dilution of competitive advantage. The company also needs to make policies to retain its employees.