SectionEgypt overview
Elsewedy Electric (SWDY)
Cable, electrical-products and energy-infrastructure group with operations across Africa and the Middle East.
About Elsewedy
Elsewedy Electric grew from a family electrical-trading business into one of the Middle East and Africa's largest manufacturers of cables and electrical products. Its business spans wires and cables, electrical components such as transformers and meters, and engineering, procurement and construction (EPC) of power and infrastructure projects.
The group has factories and projects in many countries across Africa, the Middle East and beyond, which gives it a sizeable share of revenue in foreign currencies. That exposure has made the stock a favourite of investors looking for a hedge against the Egyptian pound.
Its order book for power plants, grids and industrial projects is the key indicator to watch alongside metal prices, particularly copper and aluminium.