El-Sewedy brothers lose $175 million after becoming Egypt's newest billionaires
Ahmed El-Sewedy, CEO of Elsewedy Electric, and his brother Sadek, the company’s non-executive chairman, hold a majority 51.05 percent stake.
Elsewedy Electric
Egyptian businessman Mohammed Elsewedy's stake in electric giant exceeds $770 million
Elsewedy, who serves as the company's vice president, holds a 17.76-percent stake —equivalent to 385.6 million ordinary shares.
Azza Elsewedy becomes top female investor on EGX with $80-million stake in Elsewedy Electric
Elsewedy claims the top spot on the Egyptian Exchange with stake in multinational cable and electrical equipment manufacturer, Elsewedy Electric.
UAE group offers $558 million for stake in Egyptian billionaire family’s electric company
Founded in 1938 by the El-Sewedy family, Elsewedy Electric has become a major force in the electrical equipment manufacturing sector.
Ahmed El-Sewedy-led electric group seals deal to advance grain silos industry in Egypt
This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing.
Egypt’s El-Sewedy family loses $136.5 million from Elsewedy Electric shares
Despite this financial setback of EGP136.55 billion ($136.53 million), the El-Sewedy family remains one of Egypt’s leading billionaire families.
Egyptian tycoon Ahmed El Sewedy’s electric firm announces $22-million dividend for shareholders
This decision underscores the company’s commitment to rewarding its stakeholders for their continued support.
El-Sewedy family’s investment in electrical equipment group rebounds above $1 billion
The family’s wealth had taken a hit between March 14 and 28, with the market value of their stake tumbling EGP5.36 billion ($324.08 million).
Egypt’s El-Sewedy family loses billionaire status as Elsewedy Electric shares tumble
Their 68.1-percent stake in Elsewedy Electric, once valued at $1.29 billion on March 14, has declined to $970.05 million at the time of drafting this report.
Egypt’s billionaire El-Sewedy family loses $677 million as Egyptian pound tumbles
Despite this financial setback of $677 million, the El-Sewedy family maintains their position as one of Egypt’s leading billionaire families.
Egyptian billionaire Ahmed El-Sewedy-led electric firm unveils industrial city in Tanzania
Spanning an expansive 2.6 million square meters, EIC represents East Africa’s first fully integrated industrial hub.
Egypt’s billionaire El-Sewedy family gains nearly $100 million in less than two weeks
This upswing solidifies their position as one of Egypt’s wealthiest families and prominent investors on the Egyptian Exchange.
Egyptian billionaire Ahmed El-Sewedy’s firm on track to finish $2.9-billion Tanzanian dam
Egyptian billionaire Ahmed El-Sewedy disclosed that the dam is now 94-percent complete and undergoing rigorous testing.