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Ahmed El Sewedy, president and CEO of Elsewedy Electric, sat down with Egyptian Prime Minister Mostafa Madbouly on Sunday May 24 to lay out the company's expansion plans across several sectors, with automotive manufacturing emerging as the most significant new announcement from the meeting.
El Sewedy told Madbouly that new vehicle models will be produced in Egypt in partnership with global manufacturers through the Elsewedy-Ezz factory. The facility has an estimated annual production capacity of 80,000 vehicles, aimed at meeting local demand and expanding exports, with total investments described as running into the billions of Egyptian pounds. The automotive announcement marks Elsewedy Electric's most direct entry yet into a sector traditionally dominated by state-linked entities and international joint ventures.
The meeting also reviewed the company's projects in Borg El Arab, Upper Egypt and other emerging industrial zones, alongside planned investments in new industrial areas across the country. Madbouly framed the discussion within the government's broader industrial expansion agenda, stressing the importance of localising strategic industries and strengthening the role of private sector institutions as key partners in economic development.
El Sewedy said Egypt currently offers significant investment opportunities across industry and tourism, citing current regional developments as factors creating openings that the country's business community should move quickly to capture. He stressed the importance of capitalising on those opportunities to support Egypt's broader economic and development objectives.
Elsewedy Electric is one of Egypt's most globally connected industrial companies, listed on the Egyptian Exchange and operating across more than 100 countries through its cables, energy solutions, digital services and industrial development businesses. The El Sewedy family controls a 68.1 percent stake. Under Ahmed El Sewedy's leadership, the company has pursued an aggressive pan-African and regional expansion strategy, committing $2.5 billion to Algeria in September 2025 and completing projects in Tanzania, Saudi Arabia and other markets alongside its core Egyptian operations.
The meeting with Madbouly follows a period of intense deal activity. In May 2026, Elsewedy's subsidiary signed a $1 billion contract as part of an Egyptian-Italian consortium developing the second phase of the Hassi Bir Rekaiz oil field in Algeria in partnership with Sonatrach and PTT Exploration and Production. The automotive announcement adds a domestic manufacturing dimension to what has historically been an infrastructure and energy-focused growth story.
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