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Everyone deserves a second chance

12/10/2022

As first-year students in the UK and around the world embark on their university studies this quarter, for many, this will feel like their one shot, their only chance of getting the qualification they need to get a foot in the door of employment during a tumultuous market.

I can understand why they may feel anxious. The global economy has been through a huge amount of upheaval over the last two years and the situation isn’t likely to calm down in the next 12 months. Many countries are already in or facing a recession, against the backdrop of the highest energy prices many of us can remember.

Employment levels in the UK, the US and much of the developed world remain high, but a combination of rising interest rates, high inflation and reduced spending will impact the job market. Job prospects for graduates have been improving in recent years, but competition for the best positions remains fierce.

The situation is equally challenging for young founders and entrepreneurs,
for whom the costs of failure can seem overwhelming. The fear of not performing perfectly can also discourage people from applying for new roles or accepting career-boosting opportunities.

As societies, we need to do more to encourage risk-taking and to be understanding of setbacks. Some countries, such as the US, are better at this than others, where addressing failure is a key topic incorporated into MBA programmes. In Mexico, where 75% of start-ups fail within two years, a group of friends founded a series of events where business people stand up and talk frankly about their failures. The movement has now spread to 100 cities worldwide and has inspired a social enterprise called The Failure Institute that helps companies drive a cultural shift where they learn from failure, rather than be defined by it.

But for many, failing remains a taboo, discouraging people from pursuing their ambitions. This is why, now more than ever, we need to do a better job of embracing the virtue of the second chance – whether as employers, educators or policymakers. I discovered this myself as a teenager in America, where I had travelled from Egypt to study my undergraduate degree in the 1960s. At North Carolina State University I enjoyed all the perks of a carefree freshman. But my world came crashing down when Egypt’s President Nasser, under the political sway of the Soviet Union, nationalized the private sector and sequestered many privately-held assets, including my father’s company and property. My dad, Loutfy Mansour, went from being a wealthy entrepreneur to losing his home and being paid 75 dollars a month on a state salary.

The cheques from home dried up, and I started to struggle as I balanced waiting tables with studying. I faced flunking out thanks to my poor grades. One of my professors told me he intended to give me a fail, which would have meant I would have had to leave the university and return to an uncertain future in Egypt. But when I pleaded and explained what I would face if I went back home, he offered me a deal. If I promised to redouble my efforts, I would be given a second chance to pass the course. It was a turning point in my life.

Sometimes I have to pinch myself when I think about what I went on to achieve after being given that second chance. I had been a waiter in America, living in a damp, overcrowded house and struggling to pay my debts. But I graduated, did an MBA, and returned to Egypt in the 1970s to manage parts of the family business, which by then had been re-established. Today, we employ over 60,000 people from the UK to New Zealand. The investment firm I set up in London in 2010 has provided long-term capital to organisations in a range of sectors from education and tech to renewable energy and sport. My not-for-profit foundation has provided over four million micro loans to women entrepreneurs in Egypt – all driven by the ethos of second chances.

I have been privileged to see my story come full circle. Earlier this year I returned to NC State University to receive an honorary doctorate and deliver the graduation ceremony address to an audience of 20,000 students and their guests. I urged the class of 2022 to pursue their dreams, and if they are given a second chance, to seize it, learn from it, and be grateful for it.
There are clearly huge challenges facing the world. But seeing all those graduating students reaffirmed my optimism. We are human and we all fail, but we all deserve a second chance in life.

Originally posted to Linkedin on the 12th October, 2022

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Mohamed Mansour receives honorary doctorate from North Carolina State University

17/05/2022

Mr Mohamed Mansour, the internationally renowned Egyptian business leader and philanthropist, has been awarded an honorary doctorate by North Carolina State University (“NC State”), his alma mater.

In recognition of his decades of life-changing philanthropy in Egypt and internationally, Mr Mansour was made an ‘Honorary Doctor of Humane Letters’, the highest honour the university can bestow, at a ceremony in Raleigh, North Carolina on 7 May.

In addition to receiving an honorary doctorate, Mr Mansour was invited to deliver the keynote address at the University’s commencement ceremony. He addressed an audience at Raleigh’s landmark PNC Arena of around 20,000 people, thought to be the largest ever attendance for an NC State commencement, including the graduating Class of 2022 and the students’ family and friends, as well as faculty members, academics and other university staff. Read the full press release here.

Speech in full:

 Thank you, Chancellor Woodson, so much!

And thank you to every trustee and board member of this great institution for your wonderfully warm welcome I have been given today.

So… Class of 2022 – what a special group! To have graduated at any time is an achievement. To do it in a pandemic – wow!

You should be so proud. Congratulations!

A special hand, everyone, please to the graduating class of 2022!

 

This is a very moving moment for me. To you students who have had to struggle at times or overcome adversity – I know a little of how you feel.

I was almost thrown out of this university.

I was literally on the verge of being kicked out.

It does make me think, should I really be standing here – to receive an honorary doctorate, when I was told I couldn’t make it as an undergraduate?

It doesn’t help that this venue where I now stand centre stage has been a place for such legends from Bruce Springsteen to the Rolling Stones.

Somehow Mohamed from Egypt, or ‘Mo’ as I was known here, does not immediately trip off the tongue after such a rock ‘n’ roll roll call.  But, anyway here I am.

 

Flattered and truly honoured.

And immensely grateful.

 

I came to study in America in November 1963, only a few days after JFK was shot. A few weeks later, aged 16, I enrolled as an undergraduate here.

I was thrilled to be in America. I’d been confined to bed for three years from the age of 10 after being in a near-fatal car accident in Egypt.

So I was raring to go, to embrace life in North Carolina.

And I found the American Dream.

Can I just ask, is there a better place than North Carolina to find that dream?

Of course not! This is Wolfpack territory! Go Pack!

 

It was the Sixties and as the saying goes, ‘if you can remember the Sixties, you probably weren’t there’.  Well, I was there!

By 1966, halfway through my degree, I was at risk of flunking out.

My professors told me – I worked too hard… at partying!

And that I needed to put that energy into studying.

The simple truth was that I was about to be chucked out.

But my physics professor took pity on me.

He had intended to give me a fail. But when I pleaded and explained that failing would mean me going back to a country run on Soviet-style socialism, he took pity and offered me a life-saving deal.

 

I was given a second chance.

We made a deal. If I worked my socks off, I could stay.

I learnt the critical lesson that you have to control your own destiny. There are always consequences.

I had two routes.   I was either going to flunk, fail and fester… or face those faults and failures and try to flourish.

Sink… or swim.

Take flight… or fight.

Bottle it… or battle for it.

 

The choices were stark. I had lost my way.

But that second chance allowed me to get back on track. To reconfigure my moral and social compass in every way.

And it gave me the strength and purpose to overcome a second, devastating challenge – becoming dirt poor.

My father had built a cotton textiles company. And he had been really successful which was why I could study in America.

 

Then one night, he lost everything. The Government of Egypt took it all away.

President Nasser – under the political sway of the Soviet Union – nationalised the entire cotton industry including my father’s company.

It meant he stole it from us. And not just the company – all my family’s land, homes, and other assets were confiscated.

My father went from being a wealthy entrepreneur to being paid 75 dollars a month on a state salary. He wrote to me and my brothers, who were studying here also, at NC State and UNC, to say there was no more money for us.

So, no money for rent or food and certainly nothing for the bills and debts in my fraternity house.   Dad had no money which meant I had no money.

I had to resign from my fraternity and move into a damp and overcrowded house on Chamberlain Avenue.  I went yesterday and visited the fraternity. They showed me my letter of resignation, which I wrote in 1966. I also visited Chamberlain Avenue. My house looks a lot smaller now than it did then!

I got a job as a waiter in an Italian diner called Amedeo’s.

The owner, a former football player at NC State called Dick, also gave me a second chance. He made me understand hard work as I became Mo the waiter on a dollar 25 an hour.

Slowly I saved the tips and salaries I paid off my debts and learnt to manage my own finances. My big lesson was that spending money is very different than how you spend your life. It made me realise that maybe Oscar Wilde was right when he talked about knowing ‘the price of everything and the value of nothing’.

I had no money, and the place we stayed in was a fleapit. But I didn’t care. I was surrounded by friends, supported by my tutors, and embraced by hospitable North Carolina.

Somebody asked me yesterday, ‘these must have been very tough times?’

Yes, they were tough times, but they were happy times.

 

I love this country for its dreams and for the belief that anything is possible.

I landed here just a few days after JFK was shot. I witnessed the impact of the Vietnam war.  But I saw America regroup and heal.

I saw the Civil Rights movement grow and alter America. The hippy movement. The amazing music – the Beatles, the Stones, and Elvis Presley. I watched Mohammed Ali defeat Sonny Liston.

I saw the first Moon landing and like everybody else, was inspired by the science in America.

 

I graduated in 1968 and did an MBA at Auburn University in Alabama, returning to Egypt in 1973 following President Nasser’s death.

I went into the family cotton business which we had started again from scratch. We had our second chance to rebuild in Egypt.

 

And so always, I remember, gratefully, my second chance here in Raleigh.

Sometimes I have to pinch myself that what happened afterwards is for real. Mo the waiter now employs 60,000 people around the world.

We build cars and sell bulldozers.

We own hotels and have partnerships with Caterpillar, General Motors and many other companies.

We invested in Facebook, Airbnb and Uber, and established a venture capital firm in Silicon Valley that is backing more than 50 tech start-ups today, 25 of which have gone for first and second raises.

We’ve invested in schools, sports academies and football teams.

We have employees in China and California and almost everywhere in between.

 

My family have become philanthropists as well as capitalists.

I created a foundation to give financial support – well over four million loans – to women in Egypt.

My charity is about opportunities and second chances – the same second chance I gained here.

It is part of my life and business philosophy.

 

So I accept this honorary doctorate with great humility and enormous gratitude.

It is a wonderful gift, but for me the true wonder today is all of you, graduating here.

We all know there are huge challenges facing the world. Conflicts are becoming more common. Globalisation has gone into reverse. Democracy is in retreat. Climate change threatens the planet.

But seeing you all here reaffirms my optimism for the future.

 

Together we can all say we did not flunk! We have our second chance.

Please – when you get a second chance, seize it, learn from it, and be grateful for it.

 

We reached the winning post.   We got there.

You are the possible.

You are the future, as I once was.

And you have the hope, energy, talent as well as drive and ambition to take all of us into the future. This is your time.

 

I thank you. And God bless.

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Press Release

Mohamed Mansour receives honorary doctorate from North Carolina State University

12/05/2022

Mr Mohamed Mansour, the internationally renowned Egyptian business leader and philanthropist, has been awarded an honorary doctorate by North Carolina State University (“NC State”), his alma mater.

In recognition of his decades of life-changing philanthropy in Egypt and internationally, Mr Mansour was made an ‘Honorary Doctor of Humane Letters’, the highest honour the university can bestow, at a ceremony in Raleigh, North Carolina on 7 May.

In addition to receiving an honorary doctorate, Mr Mansour was invited to deliver the keynote address at the University’s commencement ceremony. He addressed an audience at Raleigh’s landmark PNC Arena of around 20,000 people, thought to be the largest ever attendance for an NC State commencement, including the graduating Class of 2022 and the students’ family and friends, as well as faculty members, academics and other university staff.

Mr Mansour used his speech to share an important message about seizing opportunities and making the most of ‘second chances’ in life, drawing on his personal experiences at NC State and how he recovered from early mistakes and setbacks with the trust and support of the university in general and one professor in particular.

It is believed Mr Mansour is among the first Egyptians to be given an honorary doctorate by a US university. He studied at NC State from 1964-68, graduating in textile technology aged 20. He later studied for an MBA at Auburn University in Alabama before returning to Egypt in 1973.

Mr Mansour went on to be Co-Founder and Chair of the Mansour Group, the global conglomerate. Among the businesses in the group are Mansour Automotive Company, a leading Egyptian and regional automotive distributor; Mantrac Group, one of the world’s largest distributors of Caterpillar machines; and ManCapital LLP, the Mansour family’s private investment firm.

Raleigh, North Carolina was Mr Mansour’s first home outside of Egypt after moving from Alexandria aged 15 and the university still holds a special place in his affections. Mr Mansour’s father, the late Mr Loutfy Mansour, a successful cotton exporter, had wanted him and his brothers to go to NC State University because it was then – and still is – renowned for its textiles programme.

Mr Mansour is a committed philanthropist in Egypt and internationally. Among the many programmes that he has created over many years, he is the founder and Chairman of the Lead Foundation, a ground-breaking non-profit organisation established almost 20 years ago that empowers and provides funding to small enterprises owned by women in Egypt.

 Reflecting on the ceremony and award, Mr Mansour said:
“My time at NC State undoubtedly shaped me as a human being and provided me with the building blocks which allowed me to go on and build successful global businesses and give back throughout my life.

“When I arrived from Egypt in late 1963, Raleigh was a much smaller town to what it is today but NC State was such a welcoming place for a young man to grow and thrive. The campus has developed hugely over the years but that welcoming environment has not changed.

“It was a tremendous privilege to be invited back to receive an Honorary Doctorate and address this year’s latest generation of bright, young graduates ready to take their next step in life.”

Commenting on Mr Mansour’s recognition by NC State, the university’s Chancellor, Dr Randolph Woodson said:
“Honorary Doctoral Degrees are only awarded to individuals who have attained achievements of extraordinary and lasting distinction and made outstanding contributions to scholarship, creativity, leadership, and humanitarian or public service.

“No one embodies these qualities and reflects the mission of the University more than Mr Mansour. His longevity and success as a business leader and philanthropist are worthy of celebration, and we were delighted to welcome Mr Mansour back so many years after he originally attended NC State as an undergraduate.”

Dr. David Hinks, Dean of Wilson College of Textiles, said:
“The Wilson College of Textiles has always been so proud to call Mr. Mansour an alumnus. For many years we have been enormously impressed by his humanity and sense of purpose. He has enjoyed extraordinary success as an entrepreneur and business leader but has remained true to his strong principles and values.

“The theme of second chances is something that really resonates with a lot of our students at NC State. As Mr Mansour said in his speech, ‘we all deserve second chances’ and often those moments become turning points, as in his own extraordinary life.”

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Press Release

Al Mansour Automotive stays on top of the cars market in Egypt!

11/03/2021

Launching Mansour Plus: The best point collection program for Opel & Chevrolet.

In order to provide customers with the utmost saving during their Opel & Chevrolet maintenance, Al Mansour Automotive proudly launches Mansour Plus Program. It is all about acquiring & collecting points based on the amount of money customers pay on car maintenance at any of Al Mansour service centres.

Customers will then be able to redeem those points to partially or totally pay for their next maintenance invoice… or collect those points to enjoy the highest discount.

Points are valid for 24 months, which increases clients’ devotion & belonging towards Al Mansour Automotive, which is committed to offering the highest quality maintenance & the biggest amount of discount!

Here is the fastest & easiest way to subscribe!

If you own an Opel or a Chevrolet car, you can get the best out of Mansour Plus Program when you visit www.mansourplus.com

Activate your account, collect your points & redeem them whilst paying your next maintenance invoice.

Al Mansour Automotive will then inform you of the amount that has been added or deducted from your points balance so you are able to keep track of your account in terms of collecting & using your points.

With Mansour, You Are in Safe Hands

Once you decide to get an Opel or Chevrolet, you will be part of Al Mansour Automotive that has been working so hard for more than 40 years to bring you, as a very important client, the highest quality cars. That is in addition to the best after-sales service.

Thus, Mansour Plus Program is not where it ends. In fact, there is more to ensure our clients’ loyalty & sense of belonging, for they are the actual capital for Al Mansour Automotive… Ensuring that each & every client is in quite safe hands, is Al Mansour Automotive’s priority.

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Man Capital invests in €100m football partnership with Right To Dream

20/01/2021
London, UK

Right To Dream, the global opportunity-creating ecosystem of football academies, professional football clubs and partnering colleges and universities, founded by visionary British social entrepreneur, Tom Vernon, has formed a new €100 million partnership with Man Capital LLP (“Man Capital”) to help bring greater access, opportunity and equality through football.

The investment in Right To Dream by Man Capital, the UK-based investment arm of the Egyptian Mansour Group, a family-owned global conglomerate, is being made through Man Sports, a new entity established for the partnership. Focus will be on establishing a Right To Dream academy in Egypt, and furthering the activities of the Right To Dream academy in Ghana, the FC Nordsjælland club and academy in Denmark, exploring UK opportunities at club and academy level, and expanding women’s and girl’s programmes across the organisation.

Under the terms of the partnership, Man Sports will assume majority control of Right to Dream with Tom Vernon remaining the other significant shareholder. Mr Mohamed Mansour, the Founder and Chairman of Man Capital, becomes Chairman of the Board of Right To Dream, while his son, Mr Loutfy Mansour, the CEO of Man Capital, becomes a Board member.

The partnership enables Right To Dream to hire new senior leaders across the organisation, with several appointments already being made for the new venture, namely Mohammed Wasfy as MD of the new Right To Dream academy to be launched in Egypt, Pippa Grange taking on a permanent role as Group Chief Culture Officer, and Jan Laursen being promoted into the role of Chairman of FC Nordsjælland.

Tom Vernon, who continues in his role as CEO of Right To Dream Group, said: “For 20 years Right To Dream has been using football as a vehicle for social change, bringing life-changing opportunities through sport and education for children and their communities. This partnership helps Right To Dream accelerate global expansion plans to provide more opportunities for more children around the world, continuing to put people and purpose at the centre of football. With the support of the Mansour family, we continue to aspire to the creation of a new standard of purpose-driven sports for clubs academies and players.”

The first project for the new partnership sees Right To Dream build an academy in Egypt, for boys and girls, following the same model as the successful academies in Ghana and Denmark. Supporting the Government’s national development agenda, “Egypt 2030”, the Egyptian academy will be located in West Cairo, with construction expected to begin early this year ready to welcome its first group of children in 2022.

Mr Mohammed Wasfy joins Right To Dream as MD of RTD Egypt to lead this project and the development of the organisation in the country, supported by the Mansour family. Closely following the opening of the new academy will see the launch of a new professional women’s football team. This elite Women’s team will showcase purpose-driven female athletes at their best, embodying the RTD brand and model with an aspiration to recruit and attract top talent into Egyptian women’s football.

Speaking about the investment, Mr Mohamed Mansour, Chairman and Founder of Man Capital, said: “I could not be prouder to be investing in and partnering with Tom and his team at Right To Dream, who are inspirational for the life-changing work they undertake with talented boys and girls across Africa, Europe and the Americas. We have long taken a close interest in the work they are doing and are delighted to be announcing our partnership today. Not only are we a family of football fans, indeed my uncle Mostafa Kamel Mansour even represented Egypt in the 1934 World Cup, but we are committed to supporting communities across Africa, through our foundations and other philanthropic activities.”

Right To Dream academies are not simply a pipeline for talent, they are platforms of opportunity for the boys and girls who come into contact with them, on and off the field. Established in Ghana before expanding into Europe and North America, Right To Dream academies aim to merge people and purpose through the lens of football. The academies have links to world class universities and educational establishments and provide a personal development environment for young people who lack access to schooling and sport.

Having already graduated over 140 students, with 82 students currently at the academy, Right To Dream has a vision to create a global chain of academies that fundamentally change the role clubs play in football today. Pippa Grange, Right To Dream’s new Global Chief Culture Officer says, “Skills on the field are just as important as education, character development and aspiration off it. Right To Dream develops every aspect of a child’s life, giving them the best possible support and preparation to make their way in the world.”

The success of Right To Dream’s academy model is clear. In 2016, Right To Dream acquired FC Nordsjælland (FCN), the Danish Superliga club that does things differently. FCN was the first club in the world to sign with Common Goal. They launched a professional women’s football team, along with a girl’s academy and continue to maintain the ambition of developing and promoting significant numbers of players from their two academies (currently 80% of the men’s first team are from Right To Dream’s own academies) and attracting purpose led top class senior players to the model. Now, with an average age of below 22, FCN’s story is becoming well documented. Within the last 12 months, six academy players have received a call up for international duty, and since the Right To Dream acquisition in 2015, 58 academy players have received call ups to national youth teams (49 boys and 12 girls).

FCN has also generated transfer fees in excess of €65m, the majority of which being players who progressed through from the academies, over the last five years, and has coaches such as Michael Essien emerging. With Jan Laursen at the helm, stepping up to the role of Club Chairman as part of the new partnership, FCN is on track for even greater things.

Right To Dream is working towards a different future for global football. “We believe there can be a greater purpose-driven model in football where clubs take an active role in social change, rather than leaning on individual athlete-driven social consciousness. Our academies do exactly that and once Egypt is firmly established, we’ll set our sights on the UK. With our partners and our strong experienced team, we are hungry to do more for the growing elite sporting talent and educational achievements of children coming through our academies, to help them achieve their dreams”, concluded Vernon.

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Press Release

Mansour Group Backs Community Project at Ancient Site in Egypt

07/12/2020
Cairo, Egypt

The Mansour Group is delighted to announce the completion of a community centre for the Bedouin people and other residents of Saint Catherine, a UNESCO World Heritage Site in Egypt.

The Wadi Gharba Community Centre, located 30 minutes’ drive from Mount Sinai in Saint Catherine’s protectorate, was developed by the Mansour Group in partnership with Hand Over, a local design and build company, and Catherine Exists, a community development initiative.

The project aims to support and empower the local community by providing space for all ages of the community to interact and learn. The centre will host classes run by volunteers and will pursue income-generating activities for the local community. The centre will also provide facilities for travellers to stay and learn about the local culture, attend classes conducted by locals and volunteer in the local community activities.  Volunteers and guests will have the opportunity to learn traditional Bedouin craftmanship from older members of the community and ensure that these ancient skills are passed down to future generations. The centre already provides vital medical services to residents of Saint Catherine.

The centre builds on the project’s first phase, which saw the construction of a clinic and a gallery in 2018.

Mr Youssef Mansour, Co-Chair of the Mansour Group, said: “We are very grateful for the opportunity to support this hugely important development and improve the lives of the people of St Catherine, an area blessed by its history, religion and culture that should be protected and preserved. We hope that the centre will continue to educate and support the local community for generations to come.”

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The much-awaited newest MG member, the HS, is finally in Egypt

17/11/2020

MG HS a global vehicle with 5 stars Euro N-cap with an air purifier for the first time in the market.

In a prestigious event held in Sahl Hasheesh (Hurghada), Al Mansour MG has invited the journalists and media people to have the first glimpse and witness the launch of the new MG HS. With the attendance of Eng. Adel Khadr, CEO of Mansour Automotive Group, Mr. Ankush Arora, COO of Mansour Automotive Group, Mr. Loutfy Mansour, General Manager of Mansour MG Automotive and Mr. Mohamed El Sheikh, Senior Sales and Marketing Manager of Mansour MG Automotive, was the official launch of this new model like thunder that strikes the market. Many of the MG brand enthusiasts in Egypt were anticipating and waiting for the launch of this new model. The new model came with a 5-star Euro N-Cap rating when other well-established automotive brands are struggling to score 3 stars or above. The new model is also equipped with an air purifier that can disinfect the entire car from bacteria and viruses in only 3 minutes, which is very important in the meantime and shows how fast MG adapts to changing global dynamics and the ability to cater to customers needs. After test driving the new model and being able to assess its performance and durability, we can confidently say that this model will redefine the SUV segment in Egypt and it deserved the long await from customers.

Mansour MG when they took the decision to launch this new model has taken in consideration all customer desires and were determined to surpass customers’ expectations after all that they have witnessed with previous MG models that gained a great share of trust and admiration in a very short period of nearly two years, to an extent that made these early customers act as brand ambassadors communicating how their vehicles are made with superior quality and durability.

MG HS specifications:

MG HS comes with a 1.5L turbo engine that delivers 169 horsepower and 250 newton meters of torque. The fuel tank capacity is 55 liters. And because safety is with paramount importance, the MG HS is equipped with 9th generation of ESP comes from Bosch with a package of more than 10 aiding systems (ABS, EBD, CBC, TCS, VDC, HAZ, HHC, BDW, ARP, etc..). Also, the HS has 6 airbags, blind-spot detection, lane departure warning, door opening warning and rear cross-traffic alert.
MG HS lighting system.
MG HS comes with front and rear high intensity LED lights that guarantees great visibility in different driving conditions. The car also comes with automatic lights and sequential left and right signal lights.

Luxury and technology at its best.
It seems that MG HS engineers were determined to deliver a strong message not only a beautiful model, a message of advanced technology and great performance that puts the HS as well as the MG brand parallel with well established global brands. It comes featuring with 5 driving modes including the Super Sport, refrigerated arm rest compartment, 64 different colours for interior ambient lighting and a 10.1 touch screen with Apple Carplay and Android Auto.

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Mohamed Mansour Issues Warning About ‘Distorted’ Stock Markets

22/09/2020

Stock valuations have been inflated by Central Bank interventions and public sector stimulus programmes and in general are not reflecting the true scale and impact of the Covid-19 crisis, according to Mr. Mohamed Mansour, Co-Chair of the Mansour Group, the global conglomerate. 

In an interview for the Mansour Group’s podcast series, the Mansour Voice, Mr Mansour said that stock market rises could give investors a misleading impression of how the global economy was fundamentally performing.

“The S&P 500 has hit a new peak despite the poor health of corporate America. The Nasdaq is performing just as strongly in 2020 as it did in 2019, and there seems little end in sight for that particular bull market. This is all occurring of course at a time when tens of millions are unemployed in America and Europe and during an unprecedented downturn,” he said,

“Of course, Central Bank interventions are a major factor, and as we know from past crises, can have a distorting effect on these things that can take a long time to unwind or be corrected.”

Mr Mansour, who was an early-stage investor in technology companies like Facebook and Spotify, revealed in the interview that he has divested many of his equity positions and currently is holding only a small number of large tech stocks.  But he remains bullish about the IT sector generally and continues to invest in start-ups through his California-based venture capital firm, 1984 Ventures, and the Mansour Group’s family office investment business, Man Capital.

He added: “There are some other notable areas of risk and uncertainty. In the US, the presidential election will have a huge impact on global trade as well as issues relating to climate change.  In the UK, it’s a smaller issue but Brexit will have potentially negative impacts for the British and European economies at a time when the region is already struggling to recover from the pandemic. And this is even before we consider the risk of a second global wave before a vaccine can be found and rolled out. So there are big challenges in play.” 

At the same time, Mr Mansour emphasised in the interview the strong performance that a number of units of the Mansour Group are reporting for 2020 to date, including its businesses in the automotive and heavy equipment and machinery sectors, Al-Mansour Automotive and Mantrac respectively.

The Mansour Group is a global, family-owned conglomerate with over 60,000 employees, a presence in more than 100 countries and total revenues exceeding $7.5 billion. Its businesses operate across a large range of sectors including automotive, banking, consumer goods, education, healthcare, machinery & equipment, media, oil & gas, real estate, technology, and transport and logistics.

The Mansour Voice podcast is available to download from the Mansour Group website as well as Spotify, Apple and other podcast platforms.

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Press Release

Al Mansour Automotive Presents The All-New Captiva; An Outstanding Car with No Competitors!

17/06/2020

Market study is a complicated issue that only those with expertise and a high level of efficiency would be capable to achieve. This was exactly what was accomplished by the teams of General Motors and Al Mansour Automotive. The objective was to choose a new car to be launched during the coming days in the Egyptian market to create a historical leap turning everything upside down. This is simply because it is the only car in its segment that provides the best performance, with the finest features according to the highest levels of quality all over the world. Additionally, it is the most spacious car in its segment. All these traits enabled the All-New Chevrolet Captiva to be the most outstanding car with no competitors.

This amazing car combines all requirements of prospective clients that search for a large sports car with a bold design and equipment that was never integrated in one car in is segment before. Captiva can accommodate up to 7 passengers and featured with prices that suit Egyptian consumers.

In a nutshell, each and every detail of this car was created to maximize the comfort, joy, and luxury of its owner so that he pays all attention to the road while driving. We would be addressing, in details, all the aspects and features of this marvelous car.

Yes, you would need several specifications in your car. However, you also require a powerful engine with strong suspension systems, in addition to assistance, navigation, and control systems that show you all what you need to know in terms of different kinds of data. Of, course, Captiva is also featured with the most updated safety technologies all over the world. Let’s explore every part of the car in details.

Captiva a new concept of driving 

Turbo engine 1450 CC, a  Double Overhead Camshaft, 148 horsepower at 5200, Torque: 255 Nm at 1600-3600  rpm, automatic  CVT transmission, Fuel tank capacity 52 liters, 17-inch alloy wheels, front and rear parking sensors, Tire Pressure Monitoring System (TPMS), rear view camera, Cruise control, Hill start Assist, Anti-theft system, Independent suspension system, brakes’ systems (ABS, ESC, EBD)

Captiva; the best interior equipment in its category

Specious cabin with all sorts of features, a large salon that would accommodate 7 passengers, automatic air-condition, 7-inch multi-function dashboard, sound system with 6 speakers, entertainment supports devices via Bluetooth/USB connectivity, opening the window using remote control, electric closure of the doors and the trunk, chrome-plated door handles, USB from the rear view mirror, leather seats, 6 ways electric driver seat, 4 ways manual front passenger seat, foldable rear seats, adjustable steering wheel, Keyless entry , a button to start/stop the engine, cup holder.

Captiva; exterior equipment beyond description 

Electric sunroof, adjustable front Halogen headlamps and LED daytime running lights, LED rear lights, LED brakes’ lights, Front fog lights with steering assist and rear fog lights, door handles chrome strip electrically  adjustable mirrors with LED lights, electric foldable mirrors, heated mirrors, rear wiper with washer. 

Captiva; industrial accuracy and high level services

General Motors implements strict specifications for every single phase of production. This is the secret behind its industrial accuracy that preserves strong continuous performance for several years. Since Al Mansour is the only distributor in Egypt for all Chevrolet models, this guarantees the highest levels of after sales services with the largest and most efficient services’ centers all over Egypt.

The most  successful car dealer in Egypt

Trust is the basis for any type of investments. Therefore, a famous name like Al Mansour Automotive representing the Chevrolet brand in Egypt for more than 40 years is enough to provide confidence for anyone who choose Chevrolet Captiva. It’s not only about expertise, but also about continuous work and development through the establishment and modernization of services’ centers all over Egypt. This is in addition to the presence of a distinctive team of technicians, engineers, and administration. Al Mansour Automotive is always keen to provide the teams with trainings constantly inside and outside Egypt and to approve more and more services’ centers. This is to reassure Chevrolet Captiva owners that they are in safe hands exploring all new horizons.

News

Press Release

Mansour Group Launches New Podcast Series – The Mansour Voice

08/06/2020

The Mansour Group (or “the Group”) is pleased to announce the launch of its brand-new podcast series, The Mansour Voice. The series will shine a light on the Group, how it came to be built and the decisions that were made along the way that turned a family business with its origins in the Egyptian cotton trade into a global conglomerate with over 60,000 employees across more than 100 countries.

Today’s announcement coincides with the release of the second episode in the series, “Leading through Covid-19”, which is available to listen to and download here now. In this episode, Mr. Mohamed Mansour, Chairman of the Mansour Group, speaks about the impact of the Covid-19 pandemic on the Mansour Group and the global economy, as well as outlining his predictions on what shape a recovery might take.

The first episode of The Mansour Voice, “Reflections in Times of Crisis”, is already available to listeners and can be downloaded here at the Mansour Group website. In the inaugural episode, Mr. Mohamed Mansour considers the global pandemic and compares the current Covid-19 crisis to previous economic shocks that he and his businesses have successfully navigated. He also provides an overview of some of the steps that the Group has taken to help support

New episodes in the series will be released monthly and will feature senior figures from across the Mansour Group. Future episodes will examine topics including leadership, philanthropy and the post-pandemic global economy.

Mr. Mohamed Mansour, Chairman of the Mansour Group, said: “We are delighted to have launched this channel which we hope will provide listeners, whether they be employees of the Group, business partners or otherwise, with an insight into the Group and my family’s history. In the unprecedented circumstances of the Covid-19 pandemic, it is more important than ever that we communicate the knowledge and experience we have to those around us.”