Elsewedy Electric [SWDY.CA] has made offers to the governments of Ethiopia, Zambia, Zimbabwe, Sudan and Mozambique to establish projects for electricity generation from traditional and new sources. Ahmed Elsewedy, the group’s CEO, stated that Elsewedy would finance and execute the five projects, whereas the governments of those countries would repay the group in 10 years. Elsewedy also met with the Ethiopian Prime Minister, who promised to resolve the group’s issues with the allocation of 2mn square metres of land to establish an industrial zone in Adis Aababa. It is worth noting that Elsewedy has investments worth EGP3.4bn in Africa.

Elsewedy Electric: EGP140.81 as of 13 Dec. 2017, Rating: Buy, TP: EGP125.00/share, MCap: USD1,720mn, SWDY EY/SWDY.CA