Egypt’s El Sewedy Electric: Africa investments exceed 3.4 bln pounds

Egyptian cable maker El Sewedy Electric’s chief executive says investments in Africa have exceeded 3.4 billion Egyptian pounds ($192.3 million).

Ahmed El Sewedy made his remarks on the sidelines of Zambian President, Edgar Lungu’s visit to PI Parks Industrial Zone in 10th of Ramadan City.

Lungu heads a top delegate including 4 ministers and 37 Zambian businessmen for a three-day visit started on November 14th, aiming to strengthen the bilateral relations in industrial, economic, and business spheres.

El Sewedy Electric is one of the leading investment groups in Africa, focusing mainly on Electricity, energy, and industrial zones. It has a large generator facility in Zambia, and is willing to establish an Egyptian industrial zone in Ethiopia.

El Sewedy further said the group sees Africa as the best and most feasible investment option for Egyptian endeavors, bearing in mind that Egypt is a major player in the continent and its economy.

This will help the African market in meeting its dire need for infrastructure developments, namely electricity, roads, sewage, and telecommunication, El Sewedy added.