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. As a result of its impressive financial performance in the first quarter of the 2023 fiscal year, El Sewedy Electrics total assets surged from EGP113.95 billion ($3.68 billion) to EGP133.51 billion ($4.32 billion). Africa's Business Space At Your Finger Tips! June 2, 2023. 5th Settlement 1st District Plot No. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". With a net worth of $2bn ($2.6 bn in 2011), Onsi Sawiris is the patriarch of Egypts wealthiest family and shares the fourth and fifth rank with Yasseen Mansour in this list. Sadek Ahmed Sadek El Sewedy is a non-executive chairman of Elsewedy Electric, a multinational company that manufactures and sells integrated energy products and services, such as electrical cables and transformers. Other interests include the largest supermarket chain in Egypt (Metro), and the Philip Morris franchise. With net worth of $1.4bn, Mohamed Fayed is the last on the list of Egyptian billionaires. Among its various operating segments, El Sewedy Electrics wires and cables division emerged as the largest contributor to total revenues, accounting for an impressive 54 percent of the groups consolidated top-line. 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. The first Arab in the long list of the Worlds Richest People list comes at place 26, with no other than Prince Alwaleed Bin Talal Alsaud from Saudi Arabia. Essam El-Hadary Net Worth 2023: Money, Salary, Bio - CelebsMoney 27, New Cairo Cairo CA 11853 Egypt. As of 2023, Essam El-Hadary's net worth is $100,000 - $1M. In this report, Egypt Business Directory brings you Egypts 16 Richest Men and tells you a little more about them. The company was founded in 1938 as a trader in electrical equipment. In light of the headwinds created by the Covid-19 pandemic, how can the private sector shift to create long-term gains? But to determine who is the richest of them all and who follows, one needs to carefully evaluate the wealth of each. Karp is the co-founder of Palantir Technologies, a U.S. firm that specializes in big data analytics. Restructuring supply chains and ramping up digitally transformative operational models could lead to an even stronger commitment to achieving sustainability goals, while also building businesses more resilient to future risks. Elsewedy Electric is an Egyptian international electrical corporation established in 1938 by the Elsewedy family. $100,000 - $1M . In 2010, Elsewedy Cables renamed itself Elsewedy Electric, to reflect the recent diversification of its portfolio of energy products and services. Undeterred, he rebuilt what became Orascom Construction Industries. 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. Produced by a dedicated team of in-country analysts, our research provides the in-depth business intelligence you need to evaluate, enter and excel in these exciting markets. He is the editor-in-chief of Billionaires.Africa. 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. Interview: Ahmed El Sewedy In light of the headwinds created by the Covid-19 pandemic, how can the private sector shift to create long-term gains? 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. Ahmed El-Sewedy-led Elsewedy Electric wins $176.10 million Saudi solar How Egyptian Tycoon Ahmed El-Sewedys Stake in Electric Company Reaches The recent upswing in Mohammed Al-Amoudi's wealth follows a temporary exit from the Bloomberg Billionaires Index. El Sewedy Electric, the Egyptian conglomerate led by tycoon Ahmed El-Sewedy, achieved extraordinary financial success in the first quarter of 2023, with its profit exceeding EGP2.9 billion ($94 million), driven by significant revenue growth across all its operating units. United Metals acquired Special High Grade Zinc with a purity of 99.995% according to ASTM B6. Ahmed El Sewedy - egy-africa While it has production facilities across 15 countries and exports to 110 countries, President and CEO Ahmed El. Since the beginning of this year, his stake has skyrocketed by an impressive $380 million. Meet Ahmed El Sewedy, President and CEO, Elsewedy Electric Elsewedy Electric - Wikipedia 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. Another son, Naguib, built a separate telecom company, while son Samih went into hotels and real estate. Ahmed El Sewedy's electric company records $94 Million profit in Q1 2023 Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. 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. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Consequently, the market capitalization of the group has exceeded $1.4 billion. As of 2023, Osama Elhady's net worth is . Chairman of the Board. Source: Kantar Media, President & Chief Executive Officer & Director. Being a vivid art collector and with focus on Orientalist art, Gabr owns a foundation that promotes East-West dialogue through arts, science and business, aiming to reconstruct the relationship between governments on each side of the world. Since then, Italsmea Elsewedy was renamed Elsewedy SEDCO for Petroleum Services to supply electrical bulk materials and explosion-proof equipment for petroleum companies. Since its establishment in 1938 by the El-Sewedy family, El Sewedy Electric has been instrumental in the development of electrical projects across the Middle East and North Africa. He is responsible for executing professional Services, including profitability, delivery quality, cost . Ahmed Elmohamady (born September 9, 1987) is famous for being soccer player. Ahmed El Sewedy President and CEO , Elsewedy Electric June 10, 2022 Heading Egypt-based Elsewedy Electric is Ahmed El Ssewedy, president and CEO of the region's leading electronic components manufacturer. 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 . El Sewedy Electric, an Egypt-based integrated cable and electrical product manufacturer led by multimillionaire businessman Ahmed El Sewedy, has announced a double-digit increase in its profit for 2021. Youssef is responsible for building Egypts largest supermarket chain, Metro, but now devotes time to the family foundation, which targets illiteracy and education. Mike Adenuga, the renowned Nigerian billionaire and business magnate, is not only recogniz, The Board of Director of Medview Airline Plc has resolved to engage in lease . Previously, he worked as a journalist at Nairametrics. It started its first cable production plant in 1984. All rights reserved. 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. Ahmed Elmohamady Net Worth 2023: Money, Salary, Bio - CelebsMoney Back in the 50s, he set up a The General Navigation Company (Genavco), which was later nationalised by Gamal Abdel Nasser. Elsewedy Electric is a fully integrated energy solutions provider aiming to offer its customers one-stop solutions in terms of designing, engineering, procurement and construction. This article also features in The Report: Egypt 2020. Data may be intentionally delayed pursuant to supplier requirements. With a net worth of $720m, Shafik Gabr is the richest known millionaire in Egypt. Despite the challenges, however, there continue to be growth opportunities, particularly in core industries. Ahmed El Shenawy was born on 14 May 1991 in . He was also granted the Medaille de Paris because he personally oversaw the renovation of Frances Hotel Ritz, spending about $1m per room. As part of its efforts to strengthen Egypt-Saudi Arabia trade relations and expand its operations throughout the Middle East and North Africa region, the group announced nearly two months ago plans to establish a new firm in Saudi Arabia. The recent upswing in Mohammed Al-Amoudi's wealth follows a temporary exit from the Bloomberg Billionaires Index. 2023 Billionaires.Africa. 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. who was a member of the Egyptian national team which won the Africa Cup of Nations. The first and most important Ahmed Fikri Abdul Wahab, El Sewedy Electric Co: Profile and Biography El Sewedy Electric, the Egyptian conglomerate led by tycoon Ahmed El-Sewedy, achieved extraordinary financial success in the first quarter of 2023, with its profit exceeding EGP2.9 billion ($94 million), driven by significant revenue growth across all its operating units. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Ahmed El Sewedy, President and CEO, Elsewedy Electric The segment recorded revenues of EGP17.9 billion ($579.4 million) in the first quarter of 2023. The groups meters segment also experienced noteworthy growth, with revenues doubling to EGP1.633 billion ($52.76 million) due to increased volumes and pricing. Summary. The recent upswing in Mohammed Al-Amoudi's wealth follows a temporary exit from the Bloomberg Billionaires Index. According to data tracked by Billionaires.Africa, El-Sewedy, recognized as one of Egypts wealthiest entrepreneurs, has witnessed a substantial rise in the market value of his stake in El Sewedy Electric. 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. 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. But opting out of some of these cookies may affect your browsing experience. EL SEWEDY: Egypt has long made use of renewable energy sources including the Nile, which provides hydroelectric power and accounts for nearly 10% of total power production. 2023 Billionaires.Africa. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Source: FactSet. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. Omokolade Ajayi is a financial reporter at Billionaires.Africa. PDF PowerPoint Presentation Egypt's billionaire El-Sewedy family loses $109 million from stake in Ahmed El-Sewedy, a renowned Egyptian entrepreneur, has experienced an astonishing surge in the market worth of his ownership share in El Sewedy Electric. Osama Elhady Net Worth 2023: Money, Salary, Bio - CelebsMoney Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Ahmed El-Sewedy's fortune soars as stake in electric company approaches The El-Sewedy family, represented by Sadek, Ahmed and Mohammed Elsewedy, owns 68 percent of the corporation, or 1,478,689,860 ordinary shares. Profits surged from EGP760.9 million ($24.62 million) in the corresponding period last year to an impressive EGP2.9 billion ($94.01 million). The company manufactures and sells integrated energy products and services in seven energy segments: Electrical cables and accessories, electrical products, telecommunications, transformers, wind energy generation, energy measurement and management, engineering, procurement and contracting. Ahmed El Sewedy. All Rights Reserved. It does not store any personal data. Omokolade is a seasoned financial analyst and reporter with in-depth knowledge of and expertise in equity markets, and financial and economic analysis. Caption: Ahmed El Sewedy, the CEO of El-Sewedy Electric, has a net worth of $341.79 million according to Forbes in 2015. , Find our research on the Bloomberg Terminal, Dow Jones Factiva, Eikon, S&P Capital IQ, LexisNexis and more. The cookie is used to store the user consent for the cookies in the category "Analytics". El-Sewedy, alongside his siblings Sadek and Mohammed, collectively owns 68 percent of the company. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Values delayed up to 15 minutes Today's Range 20.36 - 21.17 52 Week Range 5.57 - 21.17 Profile Charts. Nigerian multimillionaire Ken Etete, 48, serves as the chairman and CEO of Century Group, which is the first domestic energy infrastructure provider. Stock Market Index Tr. Karp is the co-founder of Palantir Technologies, a U.S. firm that specializes in big data analytics. Ahmed Elsewedy | LinkedIn Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Furthermore, retained earnings rose from EGP21.6 billion ($700 million) to EGP24.41 billion ($790 million), solidifying the conglomerates financial strength and future prospects. All Rights Reserved. With demand for clean energy expected to increase, the creation of a sustainable production ecosystem that benefits all by offering complete solutions for wind, solar and hydro energy should be prioritised in every market of the world. 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. Previously, he worked as a journalist at Nairametrics. Onsi Sawiris With a net worth of $2bn ($2.6 bn in 2011), Onsi Sawiris is the patriarch of Egypt's wealthiest family and shares the fourth and fifth rank with Yasseen Mansour in this list. This cookie is set by GDPR Cookie Consent plugin. Nigerian multimillionaire Ken Etete, 48, serves as the chairman and CEO of Century Group, which is the first domestic energy infrastructure provider. Sawiris is Africas 9th richest man and also delved into Egyptian politics, forming the Free Egyptians Party in April 2011 to promote free markets and a secular platform. With over a decade of experience creating impactful narratives about Africa, Mfonobong Nsehe is one of the most recognized journalism and communications professionals on the continent. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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.
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ahmed el sewedy net worth
