1 Commercial International Bank (CIB)

• CEO and Managing Director: Hussein Abaza

Sector: Banking and financial services

Market Value: $5.2 billion

Sales: $2.1 billion

Profits: $523 million

Assets: $20.6 billion

CIB was established in 1975 as a joint venture between the National Bank of Egypt and the Chase Manhattan Bank. Today, it employs 7,700 people and serves two million customers across 190 branches and 21 units. In January 2023, CIB acquired the remaining 49% stake of Mayfair CIB in Kenya for a total transaction value of $40 million. CIB has several subsidiaries, including CVentures, Damietta Shipping, and Commercial International for Finance. In April 2022, Alpha Oryx Limited—a subsidiary of the U.A.E.’s ADQ— acquired an 18.6% stake in CIB for $987.5 million.

2 Qnb Alahli

• CEO: Mohamed Mahmoud Bedeir

Sector: Banking and financial services

Market Value: $1.3 billion Sales: $1.6 billion

Profits: $335 million Assets: $15.6 billion

In 2013, Qatari QNB Group acquired the majority stake in Egypt’s NSGB Bank and changed its name to QNB ALAHLI. Today, it owns a 94.97% stake in QNB ALAHLI. It provides services to 1.4 million customers through a network of 232 branches, 893 ATMs, and 56,000 POS. QNB ALAHLI has four subsidiaries: QNB ALAHLI Leasing, QNB ALAHLI Life Insurance, QNB ALAHLI Factoring and QNB ALAHLI Asset Management Egypt Company. In March 2023, QNB ALAHLI launched its first green retail-financing program in cooperation with the European Bank for Reconstruction and Development, the European Union, and the Green Climate Fund.

3 Telecom Egypt

• Managing Director and CEO: Mohamed Nasr Eldin

Sector: Telecommunications

Market Value: $1.3 billion Sales: $1.4 billion

Profits: $297 million Assets: $3.9 billion

Telecom Egypt provides mobile, fixed lines, and data services. The company owns 45% of Vodafone Egypt. In January 2023, it received approval from the National Telecom Regulatory Authority to obtain an additional 5MHz of spectrum in the 1,800MHz band for $125 million. In June 2022, Telecom Egypt signed six new commercial and strategic agreements with Etisalat Misr worth $549.5 million. In May 2023, the Egyptian government sold an additional 9.5% stake in Telecom Egypt in the secondary market for $121.2 million, bringing its ownership down to 70%.

4 Elsewedy Electric

• Group president and CEO: Ahmed Elsewedy

Sector: Industrials

Market Value: $1.2 billion Sales: $3 billion

Profits: $186 million Assets: $3.7 billion

Elsewedy Electric operates in key business lines, including wires and cables, electrical products, turnkey projects, meters, transformers, and renewables. With 31 production facilities in 15 countries, it exports to over 110 countries worldwide. In April 2023, Elsewedy Electric collaborated with Urbacon Trading and Contracting Company to build the Zliten power plant in Libya, at a value of $870 million. In January 2023, Elsewedy Cables Qatar announced that it will establish new underground extra high voltage cables for Qatar General Electricity & Water Corporation “Kahramaa” with a project value exceeding $328 million. The Elsewedy Family owns 68.1% of the company.

5 Egypt Kuwait Holding (EKH)

• CEO: Sherif El-Zayat

Sector: Investments

Market Value: $1.4 billion Sales: $1.1 billion

Profits: $362 million Assets: $2 billion

EKH works across six sectors: petrochemicals, fertilizers, gas distribution, electricity generation and distribution, upstream oil and gas, and non-banking financial services. Its portfolio includes Sprea Misr, AlexFert, NatEnergy, Delta Insurance, and Bedayti. In March 2023, The company acquired an additional 13.12% stake in Bawabet Al Kuwait Holding Company for $66.4 million, bringing its total shareholding in the company to 84.79%. As a result of this acquisition, its total shareholding in Alexandria Fertilizers Company increased from 61.57% to 69.42%. EKH is dual listed on the Egyptian Stock Exchange and Boursa Kuwait.

6 Ezz Steel

• Managing Director: Hassan Nouh

Sector: Industrials

Market Value: $707 million Sales: $2.7 billion

Profits: $215 million Assets: $2.1 billion

Ezz Steel is one of the largest steel producers in the Middle East and North Africa. In 2022, the company produced 3.2 million tons of rebar and wire rod, and 1.8 million tons of flat steel used in engineering industries. The company, which has four plants across Egypt, is dual listed on the Egyptian Stock Exchange and the London Stock Exchange. The company’s founder, Ahmed Ezz, owns 60.7% of Ezz Steel. The company owns 64.1% of AL Ezz Dekheila Steel Co. – Alexandria.

7 Faisal Islamic Bank of Egypt (FIBE)

• Governor: Abd El Hamid Aboumoussa

Sector: Banking and financial services

Market Value: $621 million Sales: $602 million

Profits: $156 million Assets: $5 billion

FIBE provides retail and corporate banking services and investment activities through 41 branches across Egypt. It employs more than 1,700 people and had over 1.9 million customer accounts as of the end of 2022. The bank’s net profit hit $156 million in 2022, an increase of 60% compared to 2021. The Al Awqaf Egyptian Authority is the largest shareholder in the bank with 15.35%, followed by Ithmaar Bank with 14%.

8 Talaat Moustafa Group Holding (TMG Holding)

• CEO and Managing Director: Hisham Talaat Moustafa

Sector: Real Estate & Construction

Market Value: $648 million Sales: $642 million

Profits: $72 million Assets: $5.3 billion

TMG Holding is the largest listed real estate company in Egypt with $5.3 billion in assets as of 2022. It currently has a land bank of 74 million square meters, of which 30 million is yet to be developed. Among its flagship projects are Al Rehab City, which covers over 9.9 million square meters and hosts 200,000 residents, and Madinaty, which covers over 33.6 million square meters of land with 700,000 target residents, as well as Noor city, and Celia. TMG Holding also owns four hotels in Sharm El Sheikh, Alexandria, and Cairo.

10 Orascom Construction

• CEO: Osama Bishai

Sector: Real Estate & Construction

Market Value: $390 million Sales: $4.2 billion

Profits: $134 million Assets: $3.5 billion

Orascom Construction was established more than 73 years ago by late billionaire Onsi Sawiris, the father of the Arab world’s current richest billionaire Nassef Sawiris. In 2022, the company signed new awards worth $3.6 billion, of which $2.3 billion were in the Middle East and $1.3 billion were in the U.S. In May 2022, the company, in a consortium with Siemens Mobility and The Arab Contractors, signed the second phase of Egypt’s first high-speed rail system to expand the network to 2,000 kilometers, with a share of $1.2 billion.

8 Misr Fertilizers Production Company (MOPCO)

• Chairman and Managing Director: Mohamed Sobhy

Sector: Industrials

Market Value: $1.3 billion Sales: $610 million

Profits: $235 million Assets: $1.4 billion

MOPCO produced approximately two million tons of urea product and 1.2 million tons of ammonia product in 2022. It also exports urea to Europe, Latin America, Asia, Africa, and North America. In August 2022, the Saudi Egyptian Investment Company acquired a 25% stake in MOPCO, to become the second largest shareholder after the Egyptian Petrochemicals Holding Company (ECHEM), which owns a 30.75% stake. In February 2023, MOPCO,ECHEM, and Norwegian company Scatec signed an agreement for the production of green ammonia from green hydrogen.

11 Al Ezz Dekheila Steel Co. – Alexandria (EZDK)

• Managing Director: Raed El-Beblawy Sector: Industrials

Market Value: $583 million Sales: $2.4 billion

Profits: $208 million Assets: $2.1 billion

Previously known as Alexandria National Iron and Steel Co, AL Ezz Dekheila Steel Co.– Alexandria is a subsidiary of Ezz Steel. It is one of the largest steel manufacturing facilities in Egypt, with $2.4 billion in sales in 2022. Ezz Steel owns 64.1% of AL Ezz Dekheila Steel Co.– Alexandria, the National Investment Bank owns 8.2%, and the National Bank of Egypt owns 5.8%. The company’s subsidiaries include Ezz Flat Steel, Ezz Rolling Mills, and the Hadid for Industry, Trading, and Contracting Company (Contrasteel). The company acquired 18% of Egyptian Steel in 2022.

12 Abu Qir Fertilizers and Chemical Industries Company (AFC)

• Chairman and CEO: Abed Ezz El Regal

Sector: Industrials

Market Value: $2 billion Sales: $528 million

Profits: $293 million Assets: $723 million

AFC produces and markets nitrogen fertilizers, chemical products and other related materials in Egypt and abroad. As of the fiscal year ended June 2022, the company’s total production reached 2.2 million tons and it exported to 40 clients across 24 markets. It owns three plants that produce ammonia, urea, ammonium nitrate, and liquid fertiliser. ADQ’s Alpha Oryx Limited Company is the major shareholder with 21.5%, followed by the Saudi Egyptian Investment Company with 19.8% and the Egyptian General Petroleum Corporation with 19.1%. In 2022, the company announced a $1.2 billion project with a production capacity of 1,200 tons per day of ammonia, 1,830 tons per day of sulfuric acid, and 2,400 tons per day of granular ammonium nitrate.

13 EFG Holding

• Group CEO: Karim Awad

Sector: Banking and financial services

Market Value: $687 million Sales: $581 million

Profits: $71 million Assets: $3.4 billion

EFG Hermes Holding is one of the largest financial institutions in MENA. It rebranded to EFG Holding in May 2023 to reflect the group’s expansion across financial services. Today, it operates across 12 countries, including Egypt, the U.A.E., Saudi Arabia, Kuwait, the U.S., and the U.K. In April 2023, the company completed its exit from Oman with a plan to exit from Pakistan and Jordan. The company had AUMs of over $3.5 billion, as of the end of 2022, with its investment bank division concluding 32 deals valued at $14.3 billion. In 2023, it completed advisory on the $2.5 billion IPO of ADNOC Gas on ADX. It has recently increased its authorized capital from $194 million to $970 million.

14 EMAAR Misr

• CEO: Mostafa El Kady

Sector: Real Estate & Construction

Market Value: $451 million Sales: $476 million

Profits: $212 million Assets: $2.4 billion

EMAAR Misr plans and constructs urban areas in Egypt. It is affiliated with Emaar Properties, which owns an 87% stake. In mid2022, the company signed a partnership contract with Eagle Hills Egypt, to develop a residential, touristic, and commercial project in the North Coast, and acquired a 25% stake in Eagle Hills. In July 2022, the company launched the first phase of SOUL project in North Coast, with an expected investment cost of $1.7 billion.

15 Eastern Company

• CEO: Hany Aman

Sector: Retail

Market Value: $1.2 billion Sales: $554 million

Profits: $130 million Assets: $864 million

The Eastern Company is the only local manufacturer of cigarettes in Egypt. In May 2022, the company got the approval to acquire 24% of the United Tobacco Company. The Holding Company for Chemical Industries owns 50.95% of the company’s shares. The company’s revenues increased by 7% in the fiscal year ended June 2022.

16 GB Corp

• CEO: Nader Ghabbour

Sector: Automotive

Market Value: $215 million Sales: $963 million

Profits: $341 million Assets: $1.1 billion

In January 2023, GB Auto Group rebranded to GB Corp, which provides its services through two main entities: GB Auto, which operates the core automotive business, and GB Capital, which oversees the operations of the group’s non-bank financial service providers. With over 25 brands in its portfolio, the group sold 38,103 cars in Egypt and Iraq in 2022. In February 2023, the company’s subsidiary MNT-Halan announced an equity investment of $200 million from Chimera Abu Dhabi in exchange for over 20% of the company. It also sold a 45% stake in GB Lease to Chimera in 2022.