Founded in 1938 by the El-Sewedy family, Elsewedy Electric has become a major force in the electrical equipment manufacturing sector.
Egyptian billionaire family
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This increase is fueled by heightened investor interest in the Cairo-based company on the Egyptian Exchange.
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This latest venture with MAFI comes shortly after Elsewedy Electric announced plans to launch a multimillion-dollar industrial city project in Tanzania.
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The Khamis family, Egyptian multimillionaires, holds a majority stake of 56.58 percent in the company, which distributes its products in Oriental Weavers.
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Egyptian businessman Ahmed El Sewedy’s electric company records over $185 million in profit in 2022
El Sewedy Electric specializes in the production of electrical equipment and cables.