The family’s wealth had taken a hit between March 14 and 28, with the market value of their stake tumbling EGP5.36 billion …
El-Sewedy family
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Despite this financial setback of $677 million, the El-Sewedy family maintains their position as one of Egypt’s leading billionaire families.
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According to Billionaires.Africa, the market value of the El-Sewedy family’s share in Elsewedy Electric has gained EGP4.02 billion ($129.96 million) in the …
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In 2023, Elsewedy Electric shares on the Egyptian Exchange experienced a remarkable surge of 130.7 percent.
- Hot News
Egyptian billionaire El-Sewedy family’s inks $300-million deal for agricultural food complex
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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Ahmed El-Sewedy and siblings Sadek and Mohammed hold a combined 68.1-percent majority stake in Elsewedy Electric, a staggering 1.48 billion ordinary shares.
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This venture comes on the heels of Elsewedy Electric’s $40 million investment in a Tanzanian electrical tools factory in 2021.
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The market value of the El-Sewedy family’s stake in Elsewedy Electric has slumped by $76 million in the past eight days.
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The El-Sewedy family’s fortune has seen an exceptional upturn this year, solidifying their position among Egypt’s billionaire elite.
- North Africa
Egypt’s billionaire El-Sewedy family suffers $50 million loss from El Sewedy Electric stake
The El-Sewedy family, represented by Sadek, Ahmed, and Mohammed Elsewedy, owns 68 percent of Elsewedy Electric.