Development

• Group CEO: Omar El Hamamsy

Sector: Real Estate & Construction

Market Value: $344 million Sales: $332 million

Profits: $62 million Assets: $914 million

ODE is the largest subsidiary of Orascom Development Holding. It develops fully-integrated destinations, including hotels, residential units, leisure facilities and supporting infrastructure. ODE owns a land bank of 50.25 million square meters and 24 hotels with a total of 4,932 rooms across four destinations: El Gouna, Taba Heights, Makadi Heights, and Byoum. It has also launched O West. Early in 2023, ODE signed a master agreement with Egyptian authorities for the remaining 17.4 million square meter land bank in El Gouna for $112 million.

23 Palm Hills Developments (PHD)

• Chairman and Group CEO: Yasseen Mansour

Sector: Real Estate & Construction

Market Value: $198 million Sales: $440 million

Profits: $42 million Assets: $1.6 billion

PHD has a land bank of over 29 million square meters. It had delivered 13,564 units within its developments as of 2022. The company has projects under development across Egypt in West Cairo, East Cairo, North Coast, and Alexandria, with a total sales backlog of over $776 million. Founder, Group CEO and Chairman Yasseen Mansour has a net worth of $1.3 billion, according to Forbes World’s Billionaires 2023 ranking. Mansour-Maghraby Investment and Development Company is the major shareholder, with a 41.5% stake.

23 alBaraka Bank Egypt

• Vice Chairman and CEO: Hazem Hegazy

Sector: Banking and financial services

Market Value: $196 million Sales: $285 million

Profits: $57 million Assets: $2.8 billion

The bank offers Shariah-compliant financial services across 33 branches and employs 1,161 people. In 2022, the bank’s net profit jumped to $57 million, an increase of 55.3% compared to 2021. By the end of 2022, the bank increased its capital to $164.5 million from $60 million in 2021. The Bahrain-based Al Baraka Banking Group is the major shareholder of alBaraka Bank Egypt, with a 73.7% stake.

25 Oriental Weavers

• Chairwoman: Yasmine Khamis

Sector: Industrials

Market Value: $363 million Sales: $428 million

Profits: $31 million Assets: $620 million

The Oriental Weavers Group manufactures carpets and rugs. The group distributes its products across 130 countries, with 26 production facilities in Egypt, the U.S., and China and distribution hubs in the U.K., U.S., and U.A.E. It produced 144.5 million meters of carpet in 2022 with 63% of its revenues generated from export sales in the 2022 financial year. In December 2022, Farida and Yasmine Khamis transferred their combined 24.62% stake in Oriental Weavers Carpet to London-based FYK limited, which is fully owned by the two sisters.

26 Egyptian Gulf Bank (EGBANK)

• Vice Chairman and Managing Director: Nidal Assar

Sector: Banking and financial services

Market Value: $219 million Sales: $287 million

Profits: $27 million Assets: $2.8 billion

EGBANK was established to support developmental projects in Egypt and the Arab world. It currently provides corporate, retail, and investment banking services through 60 branches across Egypt and employs 2,057 people. The bank owns the Egyptian Gulf Holding Company for Financial Investments. The Misr Insurance Company is the bank’s main shareholder, with an 11% stake.

27 Sidi Kerir Petrochemicals Company (SIDPEC)

• Chairman and CEO: Mohamed Ibrahim Sector: Petrochemicals

Market Value: $550 million Sales: $280 million

Profits: $40 million Assets: $285 million

SIDPEC produces ethylene, polyethylene, Butene-1, and LPG. The company has 12 distributors in Egypt, as well as international distributors in the U.A.E., the U.S., France, the U.K., Austria, China, and Germany, among other countries. In 2022, the company produced 273,000 tons of ethylene and 227,000 tons of polyethylene. It recoded $40 million in net profits in 2022, an increase of 131.3% compared to 2021. The Egyptian Petrochemicals Holding Company is the main shareholder with a 20% share.

28 Alexandria Mineral Oils Company (AMOC)

• Chairman and CEO: Amr Lotfy

Sector: Petrochemicals

Market Value: $439 million Sales: $596 million

Profits: $39 million Assets: $159 million

AMOC is a second stage refinery, operating two complexes in Alexandria, with a designed capacity of 1.35 million tons, producing LPG, naphtha, gasoil, fuel oil, lube base oils, and wax. The company’s net profit increased by 143.9% to $39 million in 2022. It owns 86.45% of the Alexandria Waxes Company. The Alexandria Petroleum Company owns 20.8% of the company.

29 Alexandria Container & Cargo Handling Company

• Executive Managing Director: Alaa Mohamed Ibrahim

Sector: Shipping & Transportation Services

Market Value: $1.3 billion Sales: $92 million

Profits: $66 million Assets: $181 million

Alexandria Container & Cargo Handling Company operates two main terminals: the Alexandria Terminal, with a capacity of 500,000 TEUs, and the El-Dekheilla Terminal, with a capacity of a million TEUs. The company handled nearly 840,000 containers in the fiscal year 2021/22. In April 2022, Alpha Oryx Limited—a subsidiary of ADQ—acquired a 32% stake in the company in a deal valued at $186.1 million.

31 Raya Holding

• CEO and Managing Director: Ahmed Khalil

Sector: Investments

Market Value: $169 million Sales: $660 million

Profits: $14 million Assets: $671 million

Raya Holding was founded in 1999 through the merger of seven national IT companies. It currently operates in different areas, including IT, consumer electronics and home appliances trading, data center outsourcing services, smart buildings, food and beverage manufacturing and trading, among other sectors. The company employs more than 15,250 people, with a customer base spanning Egypt, Saudi Arabia, the U.A.E., Bahrain, Poland, and Nigeria, as of September 2022. The investment conglomerate manages 38 subsidiaries, including the e-payment and financial services provider company Aman Holding.

29 Suez Canal Bank

• Chairman and Managing Director: Hussein Refaie

Sector: Banking and financial services

Market Value: $117 million

Sales: $233 million

Profits: $34 million Assets: $2.4 billion

Established in 1978, Suez Canal Bank provides retail, corporate and investment banking services through 49 branches across Egypt. It employs 1,442 people. The bank’s net profit increased by 72% to $34 million in 2022. The Arab International Bank owns 41.5% of the bank, the Libyan Foreign Bank holds 27.7%, and the Suez Canal Authority (Pension Fund) owns 10%.

32 Société Arabe Internationale de Banque (saib)

• Chairman and Managing Director:

Tarek ALkholy

Sector: Banking and financial services

Market Value: $58 million Sales: $425 million

Profits: $30 million Assets: $3.5 billion saib offers conventional and Shariah-compliant banking services. It also has several mutual funds, including the saib Fund 2, El Rabeh Fund, Youmy Fund, and the Sanabel Islamic Fund. The bank had 39 branches and employed over 1,700 people as of 2022. The Arab International Bank is the major shareholder with a 50.4% stake, while the Arab Contractors Investment Company holds 17.3%, and Misr Insurance Company owns a 11.3% stake.

33 Juhayna Food Industries

• Vice Chairman and CEO: Seif Thabet

Sector: Food and Beverages

Market Value: $410 million Sales: $367 million

Profits: $21 million Assets: $206 million

Established in 1983 by the Egyptian businessman Safwan Thabet, Juhayna Food Industries manufactures, processes, and packages dairy, juice, and cooking products. The company has four facilities, a network of distribution centers serving more than 136,000 retail outlets nationwide, and a 500-feddan, fully-owned dairy farm covering a sizeable portion of the company’s raw milk needs. Seif Thabet was appointed vice chairman and CEO in February 2023.

34 Edita Food Industries

• Chairman and Managing Director: Hani Berzi

Sector: Food and Beverages

Market Value: $373 million Sales: $248 million

Profits: $31 million Assets: $187 million

Edita manufactures branded baked snack products. Its brands include Todo, Molto, Bake Rolz, Bake Stix, Freska, Oniro and MiMix. The company produced 127,100 tons of snack foods in 2022 with over 3.5 billion packs sold. In April 2022, Edita inaugurated its first overseas production facility in Morocco where it recorded $5.7 million in revenue and sold 84.3 million packs in its first full year of operations. The company derived 92.9% of its revenue from Egypt and 7.1% from regional export markets in 2022.

35 Madinet Masr

• President and CEO: Abdallah Sallam

Sector: Real Estate & Construction

Market Value: $242 million Sales: $172 million

Profits: $23 million Assets: $452 million

Madinet Masr is a real estate developer with a land bank of 9.6 million square meters. As of 2022, the company had 15 projects across two main developments: Taj City, which is a mixed-use development project on 3.6 million square meters of land in the Eastern Suburbs of Cairo, and Sarai, which has a total area of 5.5 million square meters near the New Administrative Capital. Taj and Sarai are set to become home to almost 32,000 families. In March 2023, the company rebranded from Madinet Nasr for Housing & Development to Madinet Masr, as part of its strategy to expand nationally and regionally.

36 Six of October Development & Investment Company (SODIC)

• General Manager: Ayman Amer

Sector: Real Estate & Construction

Market Value: $193 million Sales: $252 million

Profits: $17 million Assets: $982 million

SODIC is a mixed-use developer with a land bank of 16 million square meters across three geographies in Egypt. In 2022, SODIC sold 2,873 units, generating gross contracted sales of $688.2 million, an increase of 87% compared to 2021. SODIC’s total backlog of unrecognized revenue stood at $1.1 billion as of March 2023. Aldar Properties and ADQ own 85.5% of SODIC.

37 Egyptian Chemical Industries Company (Kima)

• Executive Managing Director: Abdel-Majeed Hegazy

Sector: Petrochemicals

Market Value: $309 million Sales: $144 million

Profits: $21 million Assets: $446 million

Established in 1956, Kima produces chemical products such as urea fertilizer, liquid ammonia, high density ammonium nitrate and ferro silicon. In May 2023, it signed an MOU to set up a new line to produce nitric acid and nitrates, with investments amounting to $280 million, in addition to $32.3 million in local funding, in cooperation with an Emirati company. The Holding Company for Chemical Industries is Kima’s largest shareholder with a stake of 69.8% as of March 2023.

38 Egyptian Satellites Company (Nilesat)

• Chairman and CEO: Sameh Katta

Sector: Media

Market Value: $193 million Sales: $100 million

Profits: $39 million Assets: $650 million

Nilesat was the first company in Egypt to operate and control satellites in geostationary orbit. It launched Nilesat-101, Nilesat-102, and Nilesat-201 between 1998 and 2010. In June 2022, the company launched its fourth satellite, the Nilesat 301 communications satellite, from Florida, on board a SpaceX Falcon 9 rocket. The new satellite will deliver communications and satellite broadband services to Egypt and neighboring countries in North Africa and the Middle East.

39 CI Capital Holding

• Managing Director and Group CEO: Hesham Gohar Sector: Financial services

Market Value: $159 million Sales: $126 million

Profits: $28 million Assets: $771 million

CI Capital is a diversified financial services group, providing investment banking, securities brokerage, research, asset management, custody, leasing, and microfinance services. The company’s asset management arm saw its assets under management grow by 254% in 2022 to hit $1.7 billion. The group’s advisory business concluded eight transactions in 2022 with an aggregate deal size of $485 million. In May 2023, CI Capital acted as a joint financial advisor and a bookrunner in the $121.2 million follow-on sale of 9.5% share of Telecom Egypt.

40 eFinance Investment Group

• Chairman and CEO: Ibrahim Sarhan

Sector: Financial services Market Value: $1.1 billion Sales: $85 million

Profits: $26 million Assets: $192 million

The eFinance Investment Group’s flagship subsidiary is eFinance for Digital Operations, which processes the Egyptian government’s G2G, G2B, and G2C payments. In 2022, the third-party acquiring platform processed a total of $77.6 billion in payments and collections for the Egyptian government. PIF’s Saudi Egyptian Investment Company is the largest shareholder with a 25% stake, while the National Investment Bank owns 21.8%, and four entities—Banque Misr, the National Bank of Egypt, the Egyptian Banks Company, and Egyptian Company for Investment Projects —each own 6.7%. In April 2023, the group kicked off its international expansions with the signing of an MoU with Saudi’s Thiqah Business Services.

42 Fawry for Banking and Payment Technology Services

• Cofounder and CEO: Ashraf Sabry

Sector: Financial services Market Value: $625 million Sales: $74 million

Profits: $11 million Assets: $208 million Fawry’s primary services include enabling electronic bill payments and mobile top-ups. Through its peer-to-peer model, it enables corporates and SMEs to accept electronic payments through websites, mobile phones, and POS systems. With a network of 36 member banks and more than 280,000 agents, Fawry serves 49.4 million users and processed transactions of $6.8 billion in 2022. In November 2022, the company’s subsidiary, Fawry Microfinance, launched a digital loan request and tracking mobile app, Tamweelak Fawry, while it plans to launch BNPL service in 2023. ADQ is the largest shareholder, with a 12.6% stake.

41 Integrated Diagnostics Holdings (IDH)

• Group CEO: Hend El Sherbini

Sector: Healthcare Market Value: $489 million

Sales: $117 million

Profits: $17 million Assets: $171 million

IDH’s operations network extends beyond Egypt to Jordan, Sudan, and Nigeria. As of December 2022, IDH had 552 lab branches, up by 50 branches compared to 2021. It completed 32.7 million tests in 2022. The company served 8.7 million patients last year, a 16% decrease compared to 2021. El Sherbini has been the IDH Group’s CEO since 2012. The company is listed on the London Stock Exchange.

43 Egyptian International Pharmaceutical Industries Company (EIPICO)

• Chairman and Managing Director: Ahmed Kelani

Sector: Pharmaceuticals Market Value: $108 million Sales: $128 million

Profits: $21 million Assets: $219 million

EIPICO manufactures over 400 pharmaceutical products covering 25 therapeutic classes, including antibiotics, lyophilized products, and spansule capsules. The company was established in 1980 and started production in 1985. EIPICO operates two factories and is in the process of completing its third facility, EIPICO 3, which is designed to produce biological and biosimilar products. EIPICO’s total exports amounted to about $52 million in 2022, constituting a market share of nearly 25% of total Egyptian pharmaceutical exports.

44 Egypt Gas

• Chairman and Managing Director: Wael Gowayed Sector: Utilities

Market Value: $104 million Sales: $227 million

Profits: $10 million Assets: $418 million

Egypt Gas was established in 1983 to focus on natural gas activities. It is 83.2% owned by the Egyptian Natural Gas Holding Company. The company doubled its authorized capital to $65 million in March 2023. In 2022, Egypt Gas added 450,000 home customers bringing its total number of clients to six million. It also provided gas delivery to 697 commercial establishments, boosting the total number to 7,375 facilities. Egypt Gas increased its revenue by 30% in 2022 to hit $227 million.

45 Contact Financial Holding

• Managing Director and Group CEO: Said Zater

Sector: Financial services

Market Value: $135 million

Sales: $92 million

Profits: $17 million

Assets: $301 million

Contact Financial Holding is a non-banking financial services provider offering consumer and corporate financing and insurance services. It recently launched the rebranded version of the Contact App, ContactNow. The app’s total registered users hit 304,000 in December 2022, with more than 256,000 new registrations completed throughout 2022 alone. ContactNow plans to add payment and investment services to its roster in the second half of 2023. The average number of monthly users of the company’s AI-based pricing tool, contactcars.com, hit 1.3 million in 2022.

45 Misr Al-Gadida For Housing & Development

• Managing Director and CEO: Tamer Nasser

Sector: Real Estate & Construction

Market Value: $430 million Sales: $58 million

Profits: $21 million Assets: $160 million

Misr Al-Gadida For Housing & Development has been specialized in master-planned communities in Egypt since its inception in 1906. Its footprint projects include Heliopolis, New Heliopolis, Heliopark, Al-Obour City, Maryland Park, and Granada City. It pursues investors to operate the 11,112 square meter historic city of Granada in Cairo’s Heliopolis suburb. The Holding Company for Construction & Development owns a 72.25% stake in the company, making it the largest shareholder.

47 Ibnsina Pharma

• Vice Chairman and Managing Director: Mohsen Mahgoub

Sector: Pharmaceuticals

Market Value: $61 million Sales: $720 million

Profits: $6 million Assets: $416 million

Ibnsina Pharma had a 23% share of the Egyptian pharmaceutical distribution market in December 2022. It distributed pharmaceuticals for more than 350 companies locally and internationally to about 47,000 clients in 2022 through a network of 65 operational sites and a fleet of 803 vehicles. Ibnsina Pharma plans to focus on exports, targeting four African countries: Ghana, Kenya, Rwanda, and Tanzania. It tapped into the hospital business with the acquisition of El Shorouk Hospital in 2022.

48 Egyptian Financial & Industrial Company (EFIC)

• Managing Director: Abdul Azim Al Abbasi

Sector: Petrochemicals

Market Value: $116 million Sales: $119 million

Profits: $24 million Assets: $149 million

EFIC was established in 1929 and is considered one of the largest Egyptian companies producing phosphate fertilizers. It produces chemical materials, manures, and agricultural fertilizers. Banque Misr sold its 9.98% stake in the company in August 2022 for around $5 million. Metallurgical Industries Holding company is the largest shareholder with a 27.1% stake, while MidFirt Misr owns 25.7% of the company.

49 Minapharm Pharmaceuticals

• Chairman and CEO: Wafik Bardissi

Sector: Pharmaceuticals

Market Value: $78 million Sales: $117 million

Profits: $20 million Assets: $220 million

Minapharm Pharmaceuticals’ history dates back to the 1950s, when the first privatelyowned factory in Egypt, Heliopolis Pharmaceutical Laboratories was established. It stopped its activities in the 1960s and was re-established as Minapharm Pharmaceuticals in 1992. Minapharm employs over 1,400 people. In 2023, it received regulatory approval from the Paul-Ehrlich Institute for a phase 1 multi-center clinical trial in Germany for its Adalimumab biosimilar.

50 MM Group for Industry and International Trade (MTI)

• CEO: Khaled Mahmoud

Sector: Retail

Market Value: $193 million Sales: $223 million

Profits: $11 million Assets: $113 million

MTI operates various business lines, such as consumer electronics, automotive, telecommunication, seamless pipes, and tractors. The company’s geographical coverage has access to over 40,000 points of sale. It has partnerships with global brands, including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier, and Bosch. Rolaco EGB Investment boosted its 14.87% stake in MTI to 15.02% in January 2023.