Mr. Trawally, who is not the owner of the investment, named and styled—Egyptian-Liberian Construction Company, Incorporated — has a 10 percent share in the investment.
The company was brought in by an Egyptian financier, Mr. Ayman Hamdy Hassan Abdelgawad Al Kawass, who owns 50 percent shares. The remaining 40 percent shares are also for Egyptians Engi Nader Sayed Hassan and Malak Ayman Hamdy Hassan Abedelgawad.
Mr. Abdelgawad Al Kawass told the Daily Observer Tuesday, July 17, after signing an MOU with Mr. Trawally, he was very glad to partner with a “successful Liberian businessman” in order to contribute to the reconstruction of Liberia.
He said initially his company is investing US$10 million in the first year, which began yesterday, and that that amount may increase in the coming years.
In an interview, Mr. Trawally said he was the happiest man in Liberia following the signing of the MOU. He told our reporter at the Egyptian Ambassador’s residence in Monrovia, that every businessman in a developing economy longs and prays for such a day to come in his life.
Trawally, whose business success story was once highlighted on the BBC’s Network Africa show, said his fortune had not only come by his hands, but because every Liberian stands with him.
He hoped that the investment would grow.
In special remarks, Ambassador Maher El-Adawy stated that he promised President Ellen Johnson Sirleaf to bring Egyptian investors to Liberia.
Mssrs. Al Kawass and Fomba affixing signatures on the document as Amb. El-Adawy waits to do same as a witness
Amb. El-Adawy said, “I am fulfilling my promise. This is a remarkable day in my two-year stay in Liberia.”
The Egyptian diplomat said Tuesday’s signing ceremony was the 14th of such concrete investments he had helped bring to Liberia.
Excerpts from the MOU, which was witnessed by the Ambassador reads: “Whereas, Mr. Ayman Hamdy Hassan Abdelgawad [Al Kawass] is fully capitalized and has financial independent to undertake this investment package, but is interested in tapping the local expertise of a Liberian business entrepreneur and has identified Mr. Fomba V. Trawally; That, in return Mr. Fomba V. Trawally will muster all of the local talents for the success of this company and that Mr. Trawally ten percent is applicable only on the net profit after sales.”
The MOU is binding on the parties, their successors-in-business or interest, administrators, their heirs and attorneys, “as if they were signatories to said document from its inception,” the MOU concluded.