In Africa, where well over 600m people do not have access to electricity, an Egyptian energy company is leading the way in making a difference through the innovative solutions that it is offering its clients not only in Africa but also the Middle East.
Elsewedy Electric, the Egyptian energy solution provider, is going places. The family business, founded in 1938, is now ranked number six on the list of the top 100 companies in Egypt.
What is more, at the fifth edition of the Africa CEO Forum in Geneva in March 2017, Elsewedy Electric bagged the Best African Company of the Year Award.
Africa is where the company is growing its business rapidly and this was acknowledged by the award, which was presented to the Group CEO, Eng. Ahmed Ahmed Sadek Elsewedy. He noted that: "As an African company, Elsewedy has an obligation to take part in the development of Africa."
The company is dedicated to the development of the African private sector. Fittingly, the theme of the Africa CEO Forum was "Rethinking Africa's business model". And that is exactly what Elsewedy Electric has been doing in a number of African countries where there is an acute need for energy to drive development and lift people out of poverty.
For instance, in Angola Elsewedy Electric is undertaking a contract for three power generation plants valued at $484.5m. The project is part of the Angolan government's 2016 Emergency Power Plan to increase the thermoelectric generation capacity.
The company is building the power plants through one of its subsidiaries, which signed the deal with Angola's Ministry of Electricity and Water, using GE gas turbines. The contract will see an increase in power generation in three regions: Camama, Cazenga and South Lunda.
In Togo, its subsidiary Elsewedy Power has signed a supply contract with Compagnie Energie Electrique du Togo to supply 300,000 prepaid meters with a contract value of 44m [euro]. The contract is to be implemented over a period of nine months from the start of the fourth quarter of 2017.
Another prepaid meter project is being undertaken on behalf of the Zimbabwe Electricity Transmission and Distribution Company for 90,000 standard transfer specification (STS) prepaid split meters. The first batch was delivered in October 2016, and rollout is expected to continue in 2017.
Solera, a sister company of Elsewedy Electric, is a one-stop shop for all solar applications, starting with on-grid, off-grid, fuel saver, and other related projects. It is undertaking two projects--one in...