Forbes Middle East has revealed its annual ranking of Egypt’s Top 50 Listed Companies for 2023, highlighting the Country’s biggest public companies. To develop the ranking, Forbes Middle East gathered data from the Egyptian Exchange and ranked companies based on their reported sales, assets, and profits for 2022 and market value as of April 30, 2023. Companies that hadn’t disclosed their 2022 full-year audited financial statements as of April 25, 2023, were excluded. Currency exchange rates were taken as of April 30, 2023.
Commercial International Bank (CIB)—Egypt’s largest listed bank—tops the ranking for the second consecutive year, with a market value of $5.2 bn and total assets of $20.6 bn. In January 2023, CIB acquired the remaining 49% stake of Mayfair CIB in Kenya for a total transaction value of $40 M. QNB ALAHLI and Telecom Egypt make up the top three.
Green energy investments prevailed as a top priority for several companies on the list. 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. Whereas in February 2023, Misr Fertilizers Production Company (MOPCO), ECHEM, and Norwegian company Scatex signed an agreement to produce green ammonia from green hydrogen.
On the innovation front, Egyptian Satellites Company (Nilesat) launched its fourth satellite on board a SpaceX Falcon 9 rocket in June 2022, which will deliver broadband services to Egypt and neighboring countries in MENA. And in May 2022, Orascom Construction, in a consortium with Siemens Mobility and The Arab Contractors, signed the second phase of Egypt’s first high-speed rail system to expanding the network to 2,000 kilometers, with a share of $1.2 bn. Ranked 10th, Orascom Construction also generated the most sales in 2022 at $4.2 bn.
Here you are Top 5 Listed Companies in Egypt 2023:
1 | Commercial International Bank (CIB)
Sector: Banks & Financial Services
CEO and Managing Director: Hussein Abaza
2 | QNB ALAHLI
Sector: Banks & Financial Services
CEO: Mohamed Mahmoud Bedeir
3 | Telecom Egypt
Sector: Telecommunications
Managing Director and CEO: Mohamed Nasr Eldin
4 | Elsewedy Electric
Sector: Industrials
Group President and CEO: Ahmed Elsewedy
5 | Egypt Kuwait Holding (EKH)
Sector: Investments
CEO: Sherif El-Zayat
For the complete ranking of the “Top 50 Listed Companies in Egypt 2023” click here.
