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Egyptian businessman Ahmed El-Sewedy, CEO of Elsewedy Electric, has seen the value of his stake in the company rise by $51 million in the past 23 days. The increase comes as the electric giant’s shares gradually climbed on the Egyptian Exchange (EGX).
El-Sewedy owns 546 million shares, representing a 25.5 percent stake in the Cairo-based energy and infrastructure company. His holdings have increased by EGP2.47 billion ($51.92 million) in recent times, rising from EGP39.71 billion ($834.91 million) on Sept. 29 to EGP42.18 billion ($886.83 million).
Shares extend modest rally
Elsewedy Electric, founded by the El-Sewedy family in 1938 as a small electrical store, has grown into a multinational producer of cables, transformers, meters, and large-scale infrastructure solutions. The company remains involved in power projects across Africa and the Middle East, supported by decades of steady development.
In the past 23 days, Elsewedy Electric shares have risen 6.22 percent, climbing from EGP72.69 ($1.5284) on Sept. 29 to EGP77.21 ($1.6235). The gain has pushed the company’s market capitalization above $3.4 billion, benefiting investors and reaffirming its role as a leading player in the region’s electrical industry.
Market gains and broader implications
Elsewedy Electric shares are up 0.27 percent for the year. A $100,000 investment at the start of 2025 would now be worth $100,270, reflecting a mere gain of $270. Ahmed El-Sewedy’s latest gains underscore how fluctuations on the EGX continue to shape the fortunes of investors while highlighting the challenges companies face in a complex economic environment
