Table of Contents
Key Points
- Ahmed and Sadek El-Sewedy's stake in Elsewedy Electric increased by $127.92 million, fueled by a rally in the company’s share price.
- Elsewedy Electric’s stock rose 7.68%, pushing its market capitalization above $3.5 billion after strong financial results for 2024.
- The El-Sewedy brothers' combined stake is now valued at nearly $1.8 billion, showcasing their growing influence in Egypt’s business landscape.
Egyptian businessmen Ahmed and Sadek El-Sewedy have seen their combined stake in Elsewedy Electric grow by $127.92 million in just over a month, fueled by a strong rally in the company’s share price. As key figures behind one of Africa’s largest electric and infrastructure conglomerates, the brothers have further strengthened their standing in Egypt’s business world.
A surge in investor confidence, backed by solid financial results, has pushed Elsewedy Electric’s stock higher on the Egyptian Exchange (EGX). The share price has climbed 7.68 percent, rising from EGP77.12 ($1.52) on Feb. 11 to EGP83.04 ($1.64) in the latest market update. This increase has lifted its market capitalization past $3.5 billion, a milestone for the Egyptian group.
El-Sewedy brothers’ stakes climb by $127.91 million
Ahmed El-Sewedy, the company’s CEO, holds a 25.52 percent stake—equivalent to 546,252,820 shares. Since Feb. 11, the value of his stake has increased by $63.94 million, rising from EGP42.13 billion ($833 million) to EGP45.36 billion ($897 million).
Meanwhile, his brother, Sadek El-Sewedy, who serves as non-executive chairman, holds a 25.53 percent stake, or 546,502,820 shares. His holdings have gained $63.97 million, growing from EGP42.15 billion ($833.37 million) to EGP45.38 billion ($897.34 million) over the same period.
This surge comes on the heels of Elsewedy Electric’s exceptional financial performance. The company reported a 72.6 percent jump in net profit for 2024, reaching EGP17.46 billion ($344.74 million), while revenue soared 52.4 percent to EGP231.98 billion ($4.58 billion).
A family empire powering Egypt and beyond
Founded in 1938 by the El-Sewedy family, Elsewedy Electric started as a small electrical business and has grown into a global force in cables, transformers, energy meters, telecommunications, and power infrastructure. Today, it plays a key role in electrification and industrial development across Africa and the Middle East.
Under the leadership of Ahmed and Sadek El-Sewedy, the company has pushed aggressively into renewable energy, industrial automation, and smart infrastructure. Despite economic challenges, including currency devaluations and global supply chain disruptions, Elsewedy Electric has remained resilient, consistently outperforming competitors.
The brothers’ combined stake in the company is now valued at nearly $1.8 billion, a testament to their deep influence in the industry. Their latest $127 million gain adds to a steady increase in wealth, reflecting investor confidence in Elsewedy Electric as Egypt’s infrastructure sector continues to attract both local and international investment.
Stock performance and investor confidence
Elsewedy Electric’s stock has delivered strong returns for investors, posting a 9.44 percent gain year-to-date (YTD) on the EGX. A $100,000 investment in the company’s shares on Jan. 1, 2024, would now be worth $109,440—an impressive return in under three months.
Several factors have driven this rally, including a favorable currency translation effect, rising sales—particularly in the cables segment—and renewed investor interest in Egyptian industrial firms. With its expansion into new markets and strategic partnerships in renewable energy and smart grids, analysts remain optimistic about Elsewedy Electric’s long-term growth prospects.
Ahmed and Sadek El-Sewedy’s ability to steer the company through Egypt’s evolving economic landscape has solidified their reputation as industry leaders. Their influence in the power and electrical sectors, along with their sharp business instincts, positions them at the forefront of Egypt’s infrastructure transformation.
