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Egypt Report
Marcopolis presents the Egypt Report focused on investments, doing business, economy, stability and security and other topics featuring interviews with key executives and business leaders. The sectors under review are industry, construction, tourism, logistics and others.
CompaniesDecember 19, 2022
Top 10 Companies in Egypt | Egypt’s Largest Companies
The top 10 list of the largest companies in Egypt is compiled and updated by the MarcoPolis research team. The list is topped by Commercial International Bank (CIB), QNB ALAHLI, Telecom Egypt and Elsewedy Electric.
Top 10 Companies in Egypt | Egypt’s Largest Companies
The List
| Rank | Company | Industry | Description |
|---|---|---|---|
| 1 |
Commercial International Bank (CIB) |
Banking & Finance | CIB was founded in 1975 as Chase National Bank, a joint venture between Chase Manhattan Bank and the National Bank of Egypt (NBE). In 1987, Chase divested its stake to NBE, who renamed the former joint venture Commercial International Bank. CIB is the leading private-sector bank in Egypt, offering a broad range of financial products and services to its customers, which include more than 500 of Egypt’s largest corporations, enterprises of all sizes, institutions, and households. CIB has become the most profitable commercial bank operating in Egypt for more than 40 years. |
| 2 |
QNB ALAHLI |
Banking & Finance | QNB ALAHLI is one of the leading financial institutions in Egypt established in 1978 and ranked as the second largest private bank in Egypt. QNB ALAHLI provides its services to more than 1.3 million clients served by 7000 banking professionals with a network of 231 branches, along with 883 ATMs and 58,711 POS to serve clients nationwide. The bank established several subsidiaries in specialized fields such as QNB ALAHLI Leasing founded in 1997 as one of early entrants to the Egyptian leasing market, QNB ALAHLI Life Insurance established in 2003 to provide a diverse range of products to cater the clients’ needs for life insurance and savings, and QNB ALAHLI Factoring founded in 2012 as financial institutions involved in all types of local and international factoring services. |
| 3 |
Telecom Egypt |
Telecoms | Telecom Egypt is Egypt’s primary telephone company. It started in 1854 with the first telegraph line in Egypt. In 1998, it replaced the former Arab Republic of Egypt National Telecommunication Organization. Since its establishment in 1854, Telecom Egypt has played a pivotal role in driving growth within the local ICT market, capitalizing on its vast infrastructure, which is one of the largest in the region. Its domestic and international infrastructure has helped it serve various customer groups including consumers, enterprises, domestic and international carriers. Through its five business units, Telecom Egypt boasts a consolidated top-line of EGP 22.8 billion. |
| 4 |
Elsewedy Electric |
Industry | Elsewedy Electric Co S.A.E. is an Egyptian multinational electrical company. It was founded in 1938 by the Elsewedy family. Elsewedy Electric is a global leader that has evolved from a local manufacturer of electrical products into an integrated infrastructure solutions provider with over 17,000 employees and more than USD 3.8 billion market capitalization. The company operates in 5 key business sectors: wire, cable and accessories; electrical products; engineering and construction; digital solutions; and infrastructure investments. With a strong presence in 19 different countries, 31 production facilities spread across African and Asian countries including Egypt, Algeria, KSA, Qatar, Indonesia, Pakistan, and Tanzania, Elsewedy Electric exports a wide range of high-end products to over 110 countries worldwide. |
| 5 |
Talaat Moustafa Group Holding (TMG Holding) |
Real Estate | Talaat Moustafa Group Holding was founded in 1974 by the late Talaat Moustafa and is headed by his son, Hisham Talaat Moustafa. TMG Holding is a leading conglomerate with special emphasis on developing integrated communities, including, but not limited to, mixed-use real estate and hospitality projects across Egypt’s key cities, with a land bank of 53 million sqm. The group has a strong track record of 50 years in the housing and real estate development industry, having developed over 33 million sqm of land and sold over 90,000 units. TMG’s vision is 'community development' through establishing self-sustained residential city and community complexes for the upper and middle classes. The holding was the first to present the gated community concept, in its pioneering projects Al Rabwa – Al Shiekh Zayed City and Mayfair – Al Sherouq City. |
| 6 |
Al Ezz Dekheila Steel Co. – Alexandria (EZDK) |
Industry | Al Ezz Dekheila Steel Co. – Alexandria (EZDK), a subsidiary of Ezz Steel, is the largest steel manufacturing facility in Egypt, with a total capacity of 3.2 million tons of finished steel products per annum, comprising 2.1 million tpa of long products (rebar and wire rod) and 1.1 million tpa of hot rolled coil. It is located in Dekheila, west of Alexandria, Egypt’s second biggest city and its main port. The company was established by Egyptian public-sector institutions, Japanese institutions and global financial institutions, and has been producing long products since 1986 and flat steel since 2000. EZDK uses integrated state-of-the-art Direct Reduced Iron (DRI) based Electric Arc Furnace (EAF) technology, enabling it to link the efficient EAF with iron ore as its primary raw material, achieving greater flexibility and cost efficiency, and higher steel quality than the standard EAF and conventional technology. |
| 7 |
Orascom Construction |
Real Estate | Orascom Construction PLC is a leading engineering, procurement and construction (EPC) contractor based in Cairo, with a footprint covering the Middle East, Africa and the United States, and operations encompassing the infrastructure, industrial and commercial sectors. The Group owns 50% of BESIX Group, develops and invests in infrastructure opportunities, and holds a building materials and facilities management portfolio. The company was Egypt’s first multinational corporation and stands at the core of the Orascom Group companies. Orascom Construction was founded in 1950 and is active in more than 25 countries. |
| 8 |
Ezz Steel |
Industry | Ezz Steel is one of the world’s fastest growing and most technically advanced steel producers. It was founded in 1994, and it is the largest steel company in Egypt, the Middle East and North Africa Region. Ezz Steel has its head office in the Four Seasons Nile Plaza, Garden City, Greater Cairo. Ezz Steel has a total production capacity of 7 million tons of finished steel products per year. In 2021, the company produced 2.9 million tons of long products and 2.1 million tons of flat steel. The company’s sales increased 75% in 2021 compared to 2020. |
| 9 |
Eastern Company |
Retail | Eastern Company is engaged in manufacturing tobacco products and is the only local manufacturer of cigarettes in Egypt. The company’s product portfolio includes cigarettes, cigars, pipe tobacco, and molasses tobacco, as well as other related products such as cigarettes’ filter rods and homogenized tobacco. During the financial year ending June 2021, the company produced 70 billion cigarettes and sold nearly 67 billion, an increase of 12% compared to the previous year. In December 2021, the Eastern Company entered an agreement with the Al-Mansour International Distribution Company to manufacture the Evolve brand, which is a product of the Imperial Tobacco Group. |
| 10 |
Faisal Islamic Bank of Egypt (FIBE) |
Banking & Finance | Faisal Islamic Bank of Egypt is the first Egyptian Islamic and commercial bank. FIBE has 39 branches across Egypt. The bank has officially started its operations in 1979, but in fact, the beginning was more than five years before that date, when the bank’s founders met and agreed to establish a bank in Egypt operating in accordance with the Islamic Sharia to serve as a model for Islamic banking all over the world. Client accounts increased by 5.3% to hit 1.9 million by the end of March 2022. The Al Awqaf Egyptian Authority is the largest shareholder in the bank with 15.35%, followed by Ithmaar Bank with 14%. |
