Egypt’s wealthy Khamis family gains $11 million from Oriental Weavers stake in 6 days
The Khamis family, one of Egypt’s wealthiest, holds a majority stake in Oriental Weavers, a leading carpet manufacturer with a global presence.
The Khamis family, one of Egypt’s wealthiest, holds a majority stake in Oriental Weavers, a leading carpet manufacturer with a global presence.
Founded in 1938 by the El-Sewedy family, Elsewedy Electric has become a major force in the electrical equipment manufacturing sector.
This increase is fueled by heightened investor interest in the Cairo-based company on the Egyptian Exchange.
This latest venture with MAFI comes shortly after Elsewedy Electric announced plans to launch a multimillion-dollar industrial city project in Tanzania.
The Khamis family, Egyptian multimillionaires, holds a majority stake of 56.58 percent in the company, which distributes its products in Oriental Weavers.
El Sewedy Electric specializes in the production of electrical equipment and cables.