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Egyptian billionaire Sadek El-Sewedy, the non-executive chairman of Elsewedy Electric, has seen the value of his stake in the company drop by nearly $60 million in just eight days, as profit-taking and market swings weighed on the stock.
El-Sewedy’s stake slips amid market decline
El-Sewedy owns 546.5 million shares, giving him a 25.53-percent stake in the power and infrastructure group. From Aug. 17 to Aug. 25, the market value of his stake slipped from EGP43.88 billion ($905.28 million) to EGP41.04 billion ($846.66 million), cutting $58.62 million from his stake.
The decline wiped out gains made only a few weeks earlier. In July, his stake had climbed by $40.28 million, rising from EGP39.9 billion ($803.36 million) to EGP41.9 billion ($843.63 million). The reversal underscores the ongoing uncertainty, even as investors continue to bet on the long-term resilience of the country’s infrastructure sector.
Elsewedy Electric shares slide 6.5 percent
Founded in 1938 by the El-Sewedy family, Elsewedy Electric started as a modest electrical shop before gradually growing into a multinational manufacturer of cables, transformers, meters, and infrastructure solutions. Over the years, it has established itself as an important player in power projects across Africa and the Middle East.
That long history of expansion has not shielded the company from recent market pressures. In the past few weeks, its share price has slipped 6.48 percent, dropping from EGP80.3 ($1.66) on Aug. 17 to EGP75.1 ($1.55) at the time of this report. The slide cut Elsewedy Electric’s market capitalization to just under $3.4 billion, adding to the strain on its performance this year.
Your money and your life
So far in 2025, Elsewedy Electric shares have fallen 1.03 percent, reducing a $100,000 investment at the start of the year to about $98,970. The decline underscores pressure on Egypt’s energy and infrastructure sector as investors adjust positions after months of gains.
