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Egyptian businessman Safwan Thabet, founder of one of North Africa’s leading consumer goods companies, has gained more than $40 million on paper from his holdings in Juhayna Food Industries, following a rebound in the company’s stock on the Egyptian Exchange.
Thabet, who controls 50.1 percent of Juhayna through Pharon Investments Limited, saw the market value of his stake rise by EGP1.93 billion ($40.05 million) over the past two weeks to $536 million. This follows earlier gains of $81.89 million between June 19 and Aug. 16, when his stake climbed from EGP23.63 billion ($489.36 million) to EGP27.58 billion ($571.25 million).
Juhayna stock rebounds after recent decline
Founded more than 40 years ago by Thabet, Juhayna is a top producer of dairy, juice, and packaged goods in Egypt. Its shares, in recent times, have risen by 8.07 percent from EGP25.4 ($0.527) on Sept. 9 to EGP27.45 ($0.569), lifting its market cap to $536 million.
For Thabet, the increase reflects both resilience and strong demand for consumer products. His holdings climbed from EGP23.91 billion ($496.26 million) on Sept. 9 to EGP25.84 billion ($536.31 million), cementing his spot as a key figure in Egypt’s consumer goods sector.
Challenges remain for investors
Despite the short-term gains, Juhayna shares remain down 18.81 percent so far this year. A $100,000 investment at the start of 2025 would now be worth roughly $81,190, highlighting the market’s ongoing volatility.
Thabet’s recent gain underscores how rallies can benefit major shareholders, even as some investors navigate uncertainty. The rebound is more than a financial boost—it strengthens his long-standing role in Egypt’s food industry and underscores the influence he continues to wield.
