Linked companies : El Sewedy Electric Company. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Agricultural tax rates to remain the same, actual taxes could increase according to land value: Ministry of Finance, Referendum results garner international response. Nigerian multimillionaire Ken Etete, 48, serves as the chairman and CEO of Century Group, which is the first domestic energy infrastructure provider. The bulk of his fortune comes from the familys business as the largest seller of GM vehicles in the world, and strong sales of Caterpillar machines. This substantial profit increase can be attributed to exceptional performances across the conglomerates operating units. Singer-songwriter who rose to fame in 2016 for his album Yawman Ma Hateer. Net Operating Cash-$225 -$196 $181 Net Investing Cash-$254 -$169 -$102 Net Financing Cash: $737 . El-Sewedy, alongside his siblings Sadek and Mohammed, collectively owns 68 percent of the company. Ahmed El Sewedy - egy-africa qualified institutional buyers or professional high net worth individuals in reliance on the Capital Market Law 95 for 1992, its Executive Regulations and CMA's . In collaboration with Southwire, USA a continuous cast and rolled copper rod plant has been brought up in 1998 to have the largest plant through the Middle East and North Africa. Mohamed M. Abou El Enein. The recent upswing in Mohammed Al-Amoudi's wealth follows a temporary exit from the Bloomberg Billionaires Index. Despite the challenges, however, there continue to be growth opportunities, particularly in core industries. The company has extensive holdings both locally and beyond borders, including in the Middle East, Africa, Europe and Asia. Karp is the co-founder of Palantir Technologies, a U.S. firm that specializes in big data analytics. While it has production facilities across 15 countries and exports to 110 countries, President and CEO Ahmed El Sewedy is looking to extend this energy success story. Ahmed Elsewedy | LinkedIn Egytech Cables, a 99.98-percent-owned subsidiary of Elsewedy Electric, recently signed a new contract with Kuwaits Public Authority for Housing Welfare worth KWD8.49 million ($28.1 million). Elsewedy Electric Co., Al Masah Capital Ltd. Total Insider Purchases and Sales Reported to the SEC, Vanguard Emerging Markets Stock Index Fund, Vanguard Total International Stock Index Fund, Vanguard Institutional Total Intl. The multinational electric company and leading energy solution provider with active operations in the Middle East and Africa ended the year with a strong double-digit revenue growth of 30 percent from EGP46.4 billion in 2020 to EGP60.5 billion in 2021. Ahmed El Sewedy became part of EL Sewedy Electric in 1986 after receiving his bachelor Degree in Electrical Engineering from Cairo University. Ahmed El Sewedy currently serves as President and CEO of the company, and holds a 22.44% equity stake. II, Vanguard FTSE All World (ex-US) Small Cap, iShares plc - Core MSCI Emerging Markets IMI UCITS ETF, iShares Tr. Corporate Governance - Elsewedy Website - El Sewedy Electric PSP | ElSEWEDY How Egyptian Tycoon, Ahmed El-Sewedy's Stake in Electric Company Ahmed El Sewedy, CEO of the company, commented on the groups financial performance for the year, stating that it concluded the year with a good performance as it continued to drive growth across all its operational sectors. By nationality, He is Egyptian, and currently, his food habit is mix vegetarian & non-vegetarian. Word From Elsewedy Electric PSP CEO "Our vision is to be the most admired leading EPC Contractor. Save my name, email, and website in this browser for the next time I comment. The significant rise can be attributed to the continuous upsurge in the companys shares since the beginning of the year. Building on this impressive financial performance, the group experienced a substantial profit increase in the first quarter of 2023, surging from EGP760.9 million ($24.62 million) in the same period last year to an impressive EGP2.9 billion ($94.01 million). Elsewedys growth has spread across all of its segments, and I anticipate that our recent investments will yield good returns in 2022 and beyond, he said. The remarkable increase in El-Sewedys ownership stake not only reaffirms his standing as one of the most prosperous investors on the Egyptian Stock Exchange but also firmly establishes his position as one of the wealthiest businessmen in the country. The. From 20022008, Ahmed Sadek Elsewedy, took the lead in the family business. International stock quotes are delayed as per exchange requirements. History SWDY.CA - | Stock Price & Latest News | Reuters A successful business needs more than a superior products and pitch, it needs ambition, innovation, dedication and sprinkle of love , so I bring that purpose and my belief to Elsewedy Electric. Net Income +3.05%: Earnings Per Share - Capital Spending - Gross Margin +17.49%: Cash Flow - Insider Trading Elsewedy Electric. Elsewedy Electric - Wikipedia The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Elsewedy Electric - Top 100 Companies in the - Forbes Middle East 2023 Billionaires.Africa. Mr. Mohamed Ahmed Sadek El-Sewedy is a Chairman & General Partner at Averroes Ventures. We also use third-party cookies that help us analyze and understand how you use this website. Since the beginning of this year, his stake has skyrocketed by an impressive $380 million. Previously, he worked as a journalist at Nairametrics. With a net worth of $136.7m, Soliman Abdel Mohsen is a shareholder in multiple companies, such as Citadel Capital, 6 October for Development and Investment and GB Auto. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. The cookie is used to store the user consent for the cookies in the category "Analytics". As a result of the strong performance, the electric companys assets increased significantly from EGP54.9 billion to EGP67.7 billion, while total wealth attributable to shareholders rose from EGP17 billion to EGP19.1 billion. The cookie is used to store the user consent for the cookies in the category "Performance". Stock Market Index Tr. There is evidence that short-term outcomes of operational disruptions to supply chains may lead to longer-lasting structural shifts. The groups revenue witnessed a remarkable 79.5-percent growth during the period under review, rising from EGP18.57 billion ($601.03 million) in Q1 2022 to EGP33.33 billion ($1.08 billion) in Q1 2023. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. The world's premier source of news on Africa's billionaires and UHNWIs. As of 2023, Osama Elhady's net worth is . Who is Ahmed El Shenawy? Wiki, Biography, Age, Spouse, Net Worth The remarkable performance has positioned the company as a . Necessary cookies are absolutely essential for the website to function properly. Previously, he worked as a journalist at Nairametrics. As the President and Chief Executive Officer of El Sewedy Electric S.A.E., he has turned it into one of the largest world-wide providers of integrated energy . of Employees 35 Years of Operation 22 Production Facilities 110 Export Countries 7.8 6.1 6.4 5.3 3.2 4.2 18% . Renowned Egyptian businessman Ahmed El-Sewedy has witnessed a staggering increase in the market value of his stake in El Sewedy Electric, soaring by more than $380 million since the start of the year. What you should know about El Sewedy Electric. As a result of the price drope, the market value of the familys joint shareholding fell from EGP14.5 billion ($923.7 million) to EGP12.8 billion ($814.7 million) between Jan. 1 and Feb. 16. Strong sales in their Caterpillar business throughout Africa, Russia and Iraq are making up for a slump in Egypt. Ahmed El-Sewedy, a renowned Egyptian entrepreneur, has experienced an astonishing surge in the market worth of his ownership share in El Sewedy Electric. He was also granted the Medaille de Paris because he personally oversaw the renovation of Frances Hotel Ritz, spending about $1m per room. As of 2022, Ahmed Elmohamady's net worth is $100,000 - $1M. Yasseen resigned as CEO, but remains chairman. More recently, solar has become an important source of power as its related costs fell exponentially over the past decade, making it competitive with traditional energy sources. In 1938, Elsewedy family started their business as a trader in electrical equipment. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. To serve the Levant markets, Elsewedy Cables set up an industrial facility for cables during 2005. Gabr founded and built conglomerate ARTOC, a company with interests in steel fabrication and logistical services for oil and gas companies. Subscribe to our newsletter and never miss our latest news, podcasts etc.. He was also the pioneer managing editor of Ventures Africa and built it into one of the continents most influential business news companies. SWDY.EG | Elsewedy Electric Company Profile & Executives - WSJ Although he comes at place 65 with a wealth of $13.5bn, he still is richer than Mark Zuckerberg, founder and owner of infamous most used website worldwide Facebook. The group entered the wind energy sector through the strategic acquisition of a Spanish wind turbine manufacturer MTorres Olvega Industrial[4] and a joint venture agreement with the German windmill tower manufacturer Siag. The 20 richest people on the Egyptian Exchange - Billionaires.Africa Omokolade Ajayi is a financial reporter at Billionaires.Africa. 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To keep reading for free, please enter your email! How much money is Osama Elhady worth at the age of 33 and what's his real net worth now? The country has the potential to be an industrial centre. It also highlights the opportunities that will raise the continents competitiveness on an international scale, as reduced tariffs stimulate production and trade, and boost regional value chains. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. Analytical cookies are used to understand how visitors interact with the website. Top 100 Companies in the Middle East 2021. Sawiris is the 4th richest man in Africa and also owns big stakes in cement giant Lafarge, and Texas Industries. The remarkable growth can be attributed to exceptional performances across the conglomerates operating units. Once organisations have deployed solutions that will carry them through this period of uncertainty, they must realign their strategies to maximise profitability and help mitigate any negative impacts on the broader domestic economy. June 2, 2023. Following its establishment in the Egyptian market. The company has played a vital role in the advancement of electrical projects across the Middle East and North Africa, making substantial contributions to the regions development. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The El-Sewedy family, represented by Sadek, Ahmed, and Mohammed El-Sewedy, owns a 68-percent stake in the group, which is worth EGP20.15 billion ($679.7 million) at the time of writing. This cookie is set by GDPR Cookie Consent plugin. Another company was established in 1998 to increase the capacities of serving cables accessories, Elsewedy SEDCO, for the production of cable joints and terminations in Egypt through collaboration with international companies. El-Sewedy Electrics 99.8-percent owned subsidiary, El Sewedy Electric for Transmission & Distribution, signed the new contract nearly two months after the group announced plans to establish a new subsidiary in Saudi Arabia as the leading group continues to diversify its operations across the region. The company was located in one of Egypt's industrial zones, 60km east of Cairo with expressways linking it to Egypt's major Mediterranean and Red Sea ports. Furthermore, retained earnings rose from EGP21.6 billion ($700 million) to EGP24.41 billion ($790 million), solidifying the conglomerates financial strength and future prospects. The Egyptian government nationalised his first construction business in 1971. Executive Board - El Sewedy Industries The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 2023 Forbes Middle East. He currently resides in Egypt. We kept our net profit margins nearly stable at around 6-percent. The Report highlights infrastructure, which is expanding under Egypts urban planning agenda and mega-project pipeline. In 2004, the company began through a joint venture with an Italian company called Italsmea. Elsewedy Electric Co. engages in manufacturing of cables and electrical products.It operates through the following business segments: Cables and Accessories, Electrical Products, Energy Measurement and Management, Transformers, Communications, Wind Energy Generation, Solar Energy Solutions, and Projects and Development.The company was founded in 1938 and is headquartered in Cairo, Egypt. 3 Things thats Happened Post Tinubus Win, Meyers Soaring Net Worth: Worlds Richest Woman Hits a Remarkable $92.6 Billion, Mining Escapades: Benedict Peters Sets Sights on Zimbabwes Vast Lithium Deposit, Billionaire Nigerian Oil Magnates fromSouth-South. Under their astute leadership, Elsewedy Electric witnessed an astonishing 48.96 percent surge in profit by the end of the 2022 fiscal year. Ahmed El Sewedy, president and CEO, Elsewedy Electric The groups profit soared from EGP760.9 million ($24.62 million) in the same period last year to an impressive EGP2.9 billion ($94.01 million). It included hit singles like "A'd El Hayah" and "Kam Zekra." Source of Money: Pop Singer: Real Name: Osama . At the beginning of the year, with a starting value of EGP17.71 billion ($573.26 million), the worth of Ahmed El-Sewedys stake has now escalated to EGP29.57 billion ($956.86 million) as of the current report. By clicking Accept All, you consent to the use of ALL the cookies. Egypt's billionaire El-Sewedy family loses $109 million from stake in The new subsidiary, which will begin operations after receiving regulatory approval from the relevant authorities, will provide opportunities for investors and other stakeholders in both countries and strengthen Elsewedy Electrics participation in the manufacturing and energy sectors. The El-Sewedy family, one of Egypts wealthiest families, has seen the market value of their joint interest in Elsewedy Electric fall by more than $109 million since the start of the year, owing to profit-taking and portfolio-rotation activities on the Egyptian Stock Exchange. Their astute leadership has propelled Elsewedy Electric to a staggering 48.96-percent surge in profit at the end of the 2022 fiscal year, with profits escalating from EGP3.86 billion ($125.4 million) to EGP5.75 billion ($186.9 million), driven by robust growth in sales and revenue. Moreover, turnkey projects generated revenues of EGP11.57 billion ($374.4 million), exhibiting a significant growth of 53.2 percent, with a notable 35 percent contribution to the groups consolidated revenues. We were struck at the time by his gutsy bet on Africa and on manufacturing, here and abroad. All Rights Reserved. Starting at EGP12 ($0.388), they have climbed to EGP20 ($0.648) as of the time of reporting. All Rights Reserved. Sedplast specialized in PVC compounds including soft and rigid PVC, as well as White master batch, Black master batch, Color master batch, and Additive master batch. In 1997, the company established an industrial facility to meet tailored customer requirements, including domestic appliance cords, Category 7 ethernet cables; twisted pair telephone cables for home and business premises, and complex instrumentation cables needed to monitor natural resources. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Ahmed El Sewedy. Today, it is a global provider of energy, digital, and infrastructure solutions. PDF PowerPoint Presentation Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Chairman of the Board. As of 2023, Essam El-Hadary's net worth is $100,000 - $1M. With a net worth of $116.1m, Mohamed Farid Khamis is the founder of Oriental Weavers, Egypts leading textiles company. Get expert, on-the-ground insights into the latest business and economic trends in more than 30 high-growth global markets. Four assets that make South African billionaire Johann Rupert Africas richest man, Kenyan tycoon Narendra Ravals Devki Group accelerates production to meet surging demand, Ethiopias richest man, Mohammed Al-Amoudi, makes shocking comeback on Bloombergs 500 richest list, African-American tech billionaire Alex Karps net worth nears $2 billion amid Palantir stock surge, Nigerian businessman Ken Etete pays $15 million to acquire FPSO, Hip-Hops first billionaire Jay-Z acquires Brazilian football agency, South African tycoon Saki Macozoma owns a $125-million mining fortune. 2023 Billionaires.Africa. We, as a company, managed to act in a way that demonstrates . With commentary from President Abdel Fattah El Sisi and key players across the public and private sectors, along with a sector-by-sector guide for investors, The Report provides insight into areas of the economy that are set to drive long-term growth. All Rights Reserved. The construction and fertiliser companys shares fell almost one-third during the protests leading up to former president Hosni Mubaraks resignation in February 2011. Profits surged from EGP760.9 million ($24.62 million) in the corresponding period last year to an impressive EGP2.9 billion ($94.01 million). Founded in 1938 by the El-Sewedy family, Elsewedy Electric is a leading player in the electrical equipment manufacturing industry and has been instrumental in the development of electrical projects across the Middle East and North Africa. Source: Diversified . Subscribe to our newsletter to get our newest articles instantly! The first and most important thing that organisations should do to sustain their companies in light of the pandemic is to ensure business continuity while offsetting disruptions, whether they be predictable or otherwise. But to determine who is the richest of them all and who follows, one needs to carefully evaluate the wealth of each. Importantly, our corporate governance structure has . These cookies will be stored in your browser only with your consent. But opting out of some of these cookies may affect your browsing experience. AHMED EL SEWEDY: Almost every industry around the world has been affected by the Covid-19 pandemic, and everyone has to work hard to overcome these uncertain times. Since 2008, five additional cables facilities have been established in Algeria, Saudi Arabia, Ethiopia, Yemen, and Qatar. Meet Ahmed El Sewedy, President and CEO, Elsewedy Electric Link Copied! His son Nassef took over in 1995. Read more about this report and view purchase options in our online store. EL SEWEDY ELECTRIC COMPANY - Dun & Bradstreet In the, Djibouti: Economic Snapshot 2023 Goalkeeper who made more than 150 international appearances for Egypt, winning four Africa Cup of Nations tournaments. He has a degree in economics and is a certificate holder of the CFA Institutes Investment Foundation Program. With a net worth of $149mn, Ahmed Sewedy is the CEO and Managing Director at El Sewedy electro-meter. Nigerian multimillionaire Ken Etete, 48, serves as the chairman and CEO of Century Group, which is the first domestic energy infrastructure provider. 2003 was the year where the company began to diversify its specialty to more than cables, a transformers industrial facility to manufacture 6,000 units yearly. It was founded in 1938 by the Elsewedy family. PDF El Sewedy Cables Executes LE 1 - InktankIR Elsewedy Electric shares were trading at EGP8.67 ($0.55) per share as of press time on Feb. 16, 1.4-percent higher than their starting price on the local exchange yesterday morning. All Rights Reserved. Egypt's 16 richest men - Dailynewsegypt It also looks at key investments in the energy, The right direction: Industries not eligible for the green bond market have a new option to fund their shift towards more sustainable activityAs companies look to shift towards more environmentally sustainable operations, those in fossil fuel or heavy-polluting sectors are increasingly turning to transition bonds a relatively new class of debt instrument used to fund a companys shift towards reduced environmental impact or lower carbon emissions. The recent upswing in Mohammed Al-Amoudi's wealth follows a temporary exit from the Bloomberg Billionaires Index. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. According to reports, Ahmed El-Sewedy, acknowledged as one of Egypts most affluent entrepreneurs, has observed a significant increase in the market value of his ownership share in El Sewedy Electric. Ahmed El-Sewedy, a renowned Egyptian entrepreneur, has experienced an astonishing surge in the market worth of his ownership share in El Sewedy Electric. The financial performance was led by a 60-percent rise in wire and cable sales from EGP18.5 billion ($1.2 billion) to EGP29.6 billion ($1.9 billion), a 36.7-percent increase in transformer sales revenue, and an 11.5-percent increase in turnkey projects.

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