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Elsewedy Electric, the Cairo-based cable and electrical equipment manufacturer controlled by Egypt’s El-Sewedy family, has signed a framework agreement through its Algerian subsidiary with the Algerian Investment Promotion Agency (AAPI). The electric firm will invest $2.5 billion in Algeria’s industrial and renewable-energy sectors.
The commitment marks Elsewedy’s most significant move in Algeria to date and builds on its strategy of developing industrial complexes in fast-growing African markets, following similar projects in Egypt and Tanzania.
The deal, announced at the fourth edition of the Intra-African Trade Fair (IATF 2025) in Algiers, shows Algeria’s efforts to attract large-scale foreign investment under its economic diversification program.
Expanding Algeria’s energy and industrial capacity
With the latest agreement, Elsewedy Electric will set up new production facilities for cables, transformers, and renewable-energy equipment. It is expected to generate thousands of jobs, advance technology transfer, and strengthen Algeria’s role as a hub for energy and infrastructure goods in North Africa.
Elsewedy has been active in Algeria since 2018, when it launched a $1 million unit with a capacity of 100,000 units per year. That foothold has grown steadily: the subsidiary now employs more than 600 people directly and around 1,000 indirectly, with a 35 percent local integration rate and an estimated 45 percent share of Algeria’s electrical equipment market.
The new $2.5 billion commitment represents a step change. If carried through, it will multiply the company’s industrial footprint and cement the El-Sewedy family-controlled group as a central player in Algeria’s supply chain at a time when the government is prioritizing local production.
Algeria’s investment strategy
Through the Investment Promotion Agency, Algeria has been rolling out measures to attract foreign investors, offering tax breaks, faster approvals and access to industrial land. Placing Elsewedy’s deal under this framework highlights its importance to the country’s wider industrialization push, which is also linked to opportunities under the African Continental Free Trade Area.
Elsewedy Electric’s wider role
Since it was founded in 1938, Elsewedy Electric has grown from a family-owned cable manufacturer into a global leader in energy, digital, and infrastructure solutions with operations in 15 countries across the Middle East, Africa, and beyond.
Under Ahmed El-Sewedy, the Cairo-based group has built a reputation as a dependable partner, creating jobs and supporting industrial growth while keeping projects in step with national development plans. Its $2.5 billion move in Algeria is set to deepen its presence in North Africa, marking a broader push into clean energy and industries rooted in local demand.
