Egyptian billionaire Elsewedy family’s foundation set to skill up 20,000 students

Elsewedy Electric Foundation, led by the Egyptian billionaire family, has announced plans to equip 20,000 students for the job market within the next four years. This initiative, through the Elsewedy Technical Academy, underscores the family’s commitment to enhancing employability and reducing skills imbalances in Egypt.

Ahmed El-Sewedy, chairperson of the Board of Trustees of the Elsewedy Electric Foundation, outlined the strategic importance of the initiative. “Our mission is to ensure resilience to future changes while meeting the demands of employers,” stated Elsewedy, emphasizing the need to align educational offerings with labor market needs.

Elsewedy Technical Academy: A decade of progress

Established in 2011, the Elsewedy Technical Academy has been dedicated to providing high-quality technical education in line with global standards. Notably, approximately 10 percent of graduates secure employment within Elsewedy Electric, reflecting the effectiveness of the training provided.

The Ministry of Education has expressed support for the initiative, recognizing its pivotal role in addressing the skills gap in Egypt. Over the past decade, the academy has expanded its footprint, establishing four schools across various governorates and producing over a thousand graduates, with 80 percent successfully securing employment.

Plans are underway to further expand the academy’s reach to the Delta regions, complementing its existing locations in Cairo and Alexandria. Operating as a non-profit entity since its inception, the Elsewedy Technical Academy collaborates with leading Egyptian and international firms to deliver innovative training programs.

Elevating technical education: Elsewedy’s vision

The Elsewedy Electric Foundation’s commitment to advancing technical education in Egypt is further demonstrated by its partnerships with industry leaders to provide cutting-edge training solutions. This initiative comes at a crucial time as the demand for skilled workers continues to rise, ensuring Egypt’s workforce remains competitive in the global economy.

Elsewedy Electric, founded in 1938, has been a key player in the electrical equipment manufacturing sector, with a significant presence across the Middle East and North Africa. The Elsewedy family’s substantial 68.1 percent stake in the company, collectively valued at more than $900 million, highlights their long-standing dedication to fostering economic development and human capital in Egypt.