Ahmed El Sewedy is considered to be one of the most recognizable Egyptian Multimillionaires who has succeeded in leading a family business into an Egyptian manufacturing conglomerate.
The company now manufactures and sells integrated energy products and services in seven energy segments: cables and accessories, electrical products, telecommunications, transformers, wind energy generation, energy measurement and management, engineering, procurement and contracting.
The soft-spoken El Sewedy has led the transformation of the family business once known as Arab Cables into a giant with more than 30 production facilities in 17 countries that sells its products today in more than 110 markets, making it one of the world’s largest providers of integrated energy solutions.
Awards and recognition
Forbes has recognized El Sewedy Electric among the top 100 companies in the Middle East due to its sector-based contribution to significantly boost local economic growth for two consecutive years.
His company was ranked 4th in Egypt, and the 87th in the Middle East. It is deemed one of the five distinguished Egyptian firms on the list, and one of the nine identified industrial businesses in the region.
In addition, popular Egyptian economic outlet Amwal Al Ghad has put his company on the list of top 50 companies in the Egyptian market for four consecutive years.
Furthermore, Elsewedy Electric was ranked third place in the “Most Honored” segment for the second time in the Institutional Investor’s 2020 Emerging Europe, the Middle East, and Africa (EMEA) Executive Team survey.
It also offered special recognition to Elsewedy Electric’s esteemed leader, namely Ahmed El Sewedy as the “Best CEO”; this award confirms that his company has one of the most reliable executive teams in the EMEA region, thanks to its distinguished communication with a wide network of investors as well as performance measures, compared with its industry peers.
His leadership
The shift from a mere trading business to the manufacturing of cables and their various components and accessories accelerated starting from 1986 when Ahmed El Sewedy, the current President and CEO of El Sewedy Electric, took the leadership of the family business.
The company strategy has since then focused on acquiring manufacturing expertise of electricity generation and distribution equipment and expand the geographical reach of the company in Africa and the Middle East.
The first factory outside Egypt was built in 2002 in Giad south of Khartoum in Sudan and was followed by facilities in Syria (2005), Ghana (2006), Algeria and Zambia (2008), Saudi Arabia, Ethiopia and Yemen (2009) and Qatar (2010).
During his years of leadership, El sewedy has increased the company’s value of business almost a hundred times.
El Sewedy Electric has seen leap in growth and wide expansion under his leadership. Through streamlining operations, acquiring new businesses, penetrating new markets the company was able to expand dramatically from 2003 and afterwards.
The expansion plan of Elsewedy faced its first hurdle with the 2008 global financial crisis. As government and companies across Africa and the Middle East slashed their investments, Elsewedy struggled to fill its order books that year. Yet, he managed to lead his company to a market capitalisation around USD 1.8 bn at the end of 2017.
What began as a local trader in electrical equipment has grown into a significant contributor to the economic growth of Egypt under Ahmed El Sewedy leadership, and one that now also provides technical education opportunities for young Egyptians.
Elsewedy Electric and Elsewedy Technical Academy
Elsewedy Electric Foundation, a non for profit development organization, has managed to establish Elsewedy Technical Academy in 2011 as a commitment from the industry to lead enhancing the Technical and Vocational Education and Training (TVET) system in Egypt and the region,since then STA expanded to serve other industries.
Ahmed El Sewedy is also the Chairman of the ECBC (Egypt China Business Council), and also, Chairman of Egypt Ethiopia Business Council, Egypt Iraq Business Council, and Egypt Lebanon Business Council and Egypt Zambia Business Council.
There are currently two STA operating in Egypt, located in the 10th of Ramadan Industrial Area, with the total capacity of 1200 students, in the following fields: Energy Components, Industrial Electronics, Mechanics Maintenance and Repair, Mechanics Maintenance and Repair for heavy equipment, Logistics, Steel, Plastic, Food and ICT. A total of 400 qualified graduates are introduced to the market each year, with high employment rate at Elsewedy Electric factories.
