Table of Contents
Key Points
- Safwan Thabet’s Juhayna stake surged $81.89 million in 58 days, lifting his fortune to nearly $600 million.
- Juhayna shares gained 16.7% since June 19, raising market cap to $571 million on the Egyptian Exchange.
- Despite the rebound, Juhayna stock remains down 13.3% year-to-date, leaving investors cautious on sustained growth.
Egyptian multimillionaire Safwan Thabet, a prominent figure in North Africa’s consumer goods sector, has witnessed a sharp rebound in his fortune as shares of Juhayna Food Industries rallied on the Egyptian Exchange (EGX).
Thabet, who controls 50.1 percent of Juhayna through Pharon Investments Limited, has added EGP3.95 billion ($81.89 million) to his fortune over the past 58 days. The surge has pushed the market value of his stake to nearly $600 million, restoring momentum after months of volatility in the consumer goods sector.
The latest upswing marks a reversal of earlier losses. Between April 14 and May 11, the billionaire investor saw his stake value decline by $44.99 million, dropping from EGP15.54 billion ($306.98 million) to EGP13.26 billion ($262 million) amid weak investor sentiment.
Thabet’s holdings approach $600 million
Founded more than four decades ago by Thabet, Juhayna Food Industries has become one of Egypt’s largest producers of dairy, juice, and packaged goods. Despite recent concerns that saw some investors trimming positions, the company’s shares have staged an impressive recovery.
The stock has gained 16.73 percent on the EGX over the past 58 days, climbing from EGP25.10 ($0.52) on June 19 to EGP29.30 ($0.61). This surge pushed Juhayna’s market capitalization to $571 million, rewarding long-term shareholders and bolstering Thabet’s dominance in Egypt’s food industry.
Thabet’s holdings in Juhayna have risen from EGP23.63 billion ($489.36 million) on June 19 to EGP27.58 billion ($571.25 million), underscoring his resilience in a market shaped by shifting consumer demand and strategic expansion efforts.
Investors remain cautious despite gains
Despite recent gains, Juhayna’s shares remain down 13.34 percent year-to-date, highlighting ongoing challenges in the Egyptian equities market. A $100,000 investment at the start of 2025 would now be worth just $86,660, reflecting a paper loss of $13,340.
Still, Thabet’s recovery signals renewed confidence in the company’s growth trajectory. With demand for dairy and packaged foods expected to climb, Juhayna remains well-positioned to navigate economic headwinds while delivering long-term value to shareholders.
