Ahmed El-Sewedy gains $116m in Elsewedy Electric stake

Egyptian billionaire Ahmed El-Sewedy, the chief executive of Elsewedy Electric, has seen the value of his stake in the company climb sharply over the past three weeks, marking another strong stretch for one of Egypt’s most influential industrial groups.

El-Sewedy’s holdings in the Cairo-based energy and infrastructure company gained $115.93 million in market value between Dec. 8 and Dec. 31, driven by a steady rise in the firm’s share price on the Egyptian Exchange. The increase adds fresh strength to his long-standing position in the company, which has been central to his family’s business interests for generations.

Ahmed El-Sewedy’s Elsewedy Electric stake climbs

Ahmed El-Sewedy owns 546 million shares of Elsewedy Electric; this stake translates to a 25.5 percent stake in the company. In recent times, the market value of his stake has risen from EGP35.79 billion ($752.82 million) on Dec. 8 to EGP41.3 billion ($868.76 million).

The latest increase follows an earlier gain of $51.92 million recorded between Sept. 29 and Oct. 22, when the value of his stake rose from $834.91 million to $886.83 million. It reflects continued investor demand as the company secures contracts in infrastructure, power generation and large-scale engineering, reinforcing its established position.

Elsewedy Electric’s long-built regional scale

Founded in 1938 as an electrical shop, the company has grown into a multinational producer of cables, transformers, meters and energy systems. It operates across Africa and the Middle East, supplying transmission lines, renewable projects and industrial infrastructure, as governments increase spending on power networks and related infrastructure across the region.

Elsewedy Electric shares have climbed 15.4 percent over the past five days alone, rising from EGP65.52 ($1.3782) on Dec. 8 to EGP75.61 ($1.5904). The gain has lifted the company’s market capitalization above $3.4 billion, thus supporting investors after a difficult year pressured by currency volatility and elevated input costs for players in the industrial sector.