Forbes Middle East Reveals The Top Listed Companies In Egypt

Meet Egypt’s 50 Most Powerful Listed Firms

• The market value of the 50 companies totals $29.4 billion.
• Commercial International Bank (CIB) leads the list as Egypt’s biggest company.
• Orascom Construction tops Egypt’s real estate sector.

Dubai, June 10, 2024: Forbes Middle East has unveiled its annual Top 50 Listed Companies in Egypt ranking for 2024, showcasing the country’s most valuable and profitable players.

The 50 listees in the 2024 ranking witnessed their sales in USD shrink by almost 20% to $26.4 billion in 2023 compared to 2022. Their total net profits decreased by 9% to $4.5 billion, and total assets fell by 18.1% to $89.4 billion, down from $109.2 billion in 2022. The aggregate market cap of these companies reached $29.4 billion as of April 26, 2024, reflecting a 3.3% decline compared to the previous year.

However, financial metrics improved in local currency, with market cap, sales, profits, and assets increasing by 49.8%, 25%, 41%, and 27% in EGP, respectively.

The list, derived from the Egyptian Exchange, ranked firms based on their sales, assets, and profits for the financial year of 2023, alongside their market value as of April 26, 2024. Each metric was given equal weight and companies with identical scores received the same rank. Companies that had not disclosed their 2023 audited financial statements as of April 26, 2023, were excluded.

Egypt’s largest private bank, Commercial International Bank (CIB), leads the list with a market cap of $4.7 billion and $17.4 billion in assets. In 2023, CIB’s net profits soared by 83.5% to $619 million.

QNB ALAHLI and industrials titan Elsewedy Electric round up the top three, each boasting a market cap of $1.4 billion.

The banking and financial services sector dominates the ranking with 16 entries, generating $8.4 billion in sales and holding $58.5 billion in total assets. The real estate and construction industry, along with the industrials sector, follow with nine and seven entries, respectively. Billionaire-founded Orascom Construction stands out as the nation’s largest real estate player, with a market cap of $543 million.

Notably, the list includes only one company each from the media (Egyptian Satellite Company – Nilesat), shipping and transportation services (Alexandria Container & Cargo Handling Company), telecommunications (Telecom Egypt), and utilities (TAQA Arabia) sectors.

Top 5 Listed Companies in Egypt 2024

1 | Commercial International Bank (CIB)

Sector: Banking & Financial Services

2 | QNB ALAHLI

Sector: Banking & Financial Services

3 | Elsewedy Electric

Sector: Industrials 

4 | Telecom Egypt  

Sector: Telecommunications

5 | Orascom Construction

Sector: Real Estate & Construction

Click here for the complete ranking of the Top 50 Listed Companies in Egypt 2024.

About Forbes Middle East

Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.