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Egyptian billionaire Sadek El-Sewedy, the non-executive chairman of Elsewedy Electric, is edging toward a major personal milestone as the value of his holdings in the Cairo-based group approaches the $1 billion mark. The rise follows a steady climb in the company’s share price on the Egyptian Exchange (EGX), extending a stretch of gains that began earlier in the year.
Sadek El-Sewedy holds 546.5 million shares, equal to a 25.53 percent stake in Elsewedy Electric. In the past 6 weeks, the stake has increased by EGP2.46 billion ($52.31 million), from EGP40.35 billion ($856.49 million) on Oct. 1 to EGP42.82 billion ($913.21 million).
A stronger year for the El-Sewedy family business
The surge adds to an earlier $18.6 million increase recorded between Sept. 25 and 29, when the value of his stake rose from $826.94 million to $845.6 million. Taken together, the gains reflect a stronger year for the company and its shareholders, even as Egypt’s broader market continues to absorb currency pressure and shifting investor sentiment.
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.
Share price steady despite economic pressures
Over the past 47 days, Elsewedy Electric shares have gained 6.62 percent, rising from EGP73.84 ($1.5672) on Oct. 1 to EGP79 ($1.6767). The rise has pushed the company’s market capitalization above $3.6 billion, offering a lift to investors and reinforcing the company’s standing as one of the Egyptian Exchange’s most closely watched industrial stocks.
Elsewedy Electric shares are now up 2.60 percent for the year. A $100,000 investment at the start of 2025 would be worth about $102,600 today, a modest gain that reflects both the company’s resilience and the cautious tone of the wider market. For El-Sewedy, the latest increase brings him within reach of the $1 billion mark—a symbolic level that highlights how daily movements on the EGX continue to shape the fortunes of the country’s business leaders.
