Home » Egyptian tycoon Alaa Arafa’s GTEX lists on EGX, market cap nears $20 million

Egyptian tycoon Alaa Arafa’s GTEX lists on EGX, market cap nears $20 million

Arafa emphasizes commitment to fabric and retail sectors

by Omokolade Ajayi
Alaa Arafa

Egyptian investment holding company, GTEX for Commercial and Industrial Investments, led by businessman Alaa Arafa, commenced trading on the Egyptian Exchange’s (EGX) Main Board on March 24, marking a significant milestone.

The listing, which follows GTEX’s demerger from Al-Arafa for Investments and Consultancies S.A.E., propels the company onto the EGX platform with an initial market capitalization of $19.8 million (as of this writing).

This move signifies a pivotal moment for GTEX, opening doors for public ownership and underscoring its commitment to global expansion. The company aims to leverage its industrial holdings, including Golden Tex Wool Company and UK-based Bird Group, to strengthen its competitive edge.

Egyptian tycoon Alaa Arafa, emphasizes commitment to fabric and retail sectors

GTEX has solidified its position as a leading investment holding company, boasting a diversified portfolio across multiple sectors. Textiles, real estate, retail, and financial services all fall under GTEX’s umbrella. Notably, a significant portion of GTEX’s portfolio is anchored by a substantial stake in Goldentex Wool Co., a major textile manufacturer with a strong export presence.

Commenting on the successful listing, Arafa, GTEX’s vice chairman and managing director, expressed pride in establishing the company and emphasized its commitment to ramping up investments in textiles, fabrics, and retail. Arafa outlined plans to drive export growth through innovation, scientific research, and technological advancements, both domestically and internationally.

Alaa Arafa’s transformative leadership: From family business to global player

Alaa Arafa’s journey exemplifies his vision and leadership. He transformed his family business into Arafa Holding, a renowned apparel and textile manufacturer and fashion retailer. He expanded into the energy sector with Dolphinus Holdings, showcasing his drive for success. Arafa’s investments span real estate, agriculture, cement, and food, bolstering Egypt’s economy.

Beyond business, Arafa is deeply committed to philanthropy. He co-founded Yahiya Arafa’s Children Charity Foundation, dedicated to supporting public hospitals in Egypt serving underprivileged children, showcasing his dedication to social welfare.

With strategic investments and a diverse portfolio, including subsidiaries like Baird Group managing brands across physical and digital marketplaces, GTEX under Arafa’s leadership is poised for continued growth and success in the global market.

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